SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd cut its stake in SBA Communications Co. (NASDAQ:SBAC) by 31.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,603 shares of the technology company’s stock after selling 12,900 shares during the period. Vinva Investment Management Ltd’s holdings in SBA Communications were worth $5,816,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Oak Thistle LLC raised its stake in shares of SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after purchasing an additional 2,863 shares in the last quarter. Czech National Bank lifted its holdings in SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after buying an additional 1,421 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of SBA Communications by 14,529.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock worth $60,495,000 after acquiring an additional 249,610 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after acquiring an additional 5,897 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of SBA Communications by 135.5% during the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after acquiring an additional 241,916 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SBAC. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Barclays cut their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Finally, StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Five research 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $252.54.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the company’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 transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

SBA Communications Price Performance

SBAC opened at $223.15 on Wednesday. The business has a 50 day moving average price of $208.18 and a two-hundred day moving average price of $220.21. The company has a market capitalization of $24.01 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 1.99%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

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.