Russell Investments Group Ltd. Decreases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Russell Investments Group Ltd. lessened its holdings in SBA Communications Co. (NASDAQ:SBAC) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 357,024 shares of the technology company’s stock after selling 11,825 shares during the period. Russell Investments Group Ltd. owned approximately 0.33% of SBA Communications worth $72,715,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications in the 4th quarter worth about $27,000. Graney & King LLC purchased a new position in SBA Communications in the fourth quarter worth about $29,000. Oakworth Capital Inc. increased its stake in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after acquiring an additional 144 shares during the last quarter. CKW Financial Group bought a new stake in SBA Communications during the fourth quarter worth approximately $56,000. Finally, Versant Capital Management Inc raised its position in SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Down 4.7 %

Shares of SBA Communications stock opened at $219.91 on Friday. The stock’s fifty day moving average price is $213.48 and its 200-day moving average price is $218.63. The firm has a market cap of $23.67 billion, a P/E ratio of 34.69, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $1.11 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.02%. SBA Communications’s dividend payout ratio (DPR) is 63.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley assumed coverage on SBA Communications in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price on the stock. Wells Fargo & Company increased their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Barclays lifted their price target on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $251.92.

Insider Activity

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

SBA Communications Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.