Checchi Capital Advisers LLC Has $299,000 Holdings in SBA Communications Co. (NASDAQ:SBAC)

Checchi Capital Advisers LLC lessened its position in SBA Communications Co. (NASDAQ:SBAC) by 4.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,466 shares of the technology company’s stock after selling 75 shares during the quarter. Checchi Capital Advisers LLC’s holdings in SBA Communications were worth $299,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications in the third quarter valued at $26,000. Evermay Wealth Management LLC purchased a new stake in SBA Communications in the 4th quarter worth about $27,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications in the 3rd quarter worth about $35,000. Oakworth Capital Inc. boosted its position in SBA Communications by 161.8% during the 4th 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 period. Finally, Farther Finance Advisors LLC grew its stake in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SBAC. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. BMO Capital Markets restated a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Wells Fargo & Company increased their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $253.07.

SBA Communications Trading Up 1.3 %

Shares of NASDAQ:SBAC opened at $218.20 on Friday. The firm has a market capitalization of $23.46 billion, a PE ratio of 34.42, a PEG ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The business’s 50 day moving average is $203.52 and its 200-day moving average is $220.38.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is 63.98%.

Insider Activity

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.