Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 770 Shares of SBA Communications Co. (NASDAQ:SBAC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,586 shares of the technology company’s stock after selling 770 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.17% of SBA Communications worth $36,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications during the fourth quarter valued at approximately $27,000. Oakworth Capital Inc. raised its holdings in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group purchased a new stake in shares of SBA Communications in the 4th quarter worth about $56,000. Versant Capital Management Inc boosted its stake in shares of SBA Communications by 17.3% during the 4th 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 in the last quarter. Finally, Sherman Asset Management Inc. bought a new stake in SBA Communications during the 4th quarter valued at approximately $73,000. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SBAC shares. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Wells Fargo & Company increased their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, JMP Securities started coverage on SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.54.

Insider Buying and Selling at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications Trading Down 1.5 %

Shares of SBAC opened at $219.79 on Thursday. The business’s fifty day simple moving average is $208.59 and its two-hundred day simple moving average is $220.20. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The company has a market cap of $23.65 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

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

SBA Communications Company 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.