Insider Selling: SBA Communications Co. (NASDAQ:SBAC) VP Sells 2,209 Shares of Stock

SBA Communications Co. (NASDAQ:SBAC) VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

SBA Communications Stock Up 0.5 %

Shares of NASDAQ:SBAC traded up $1.18 on Monday, hitting $224.91. 1,453,483 shares of the company traded hands, compared to its average volume of 847,459. The stock has a 50 day simple moving average of $206.00 and a 200-day simple moving average of $220.56. The company has a market cap of $24.18 billion, a PE ratio of 35.47, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.97%. SBA Communications’s dividend payout ratio is presently 63.98%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SBAC shares. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. JMP Securities initiated coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Finally, Wells Fargo & Company upped their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.54.

Institutional Trading of SBA Communications

A number of institutional investors and hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC grew its stake in shares of SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after acquiring an additional 50 shares during the period. Farther Finance Advisors LLC raised 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 buying an additional 53 shares during the last quarter. Versant Capital Management Inc lifted its holdings 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 buying an additional 53 shares during the period. Auxano Advisors LLC boosted its stake in shares of SBA Communications by 2.3% in the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after buying an additional 54 shares during the last quarter. Finally, DoubleLine ETF Adviser LP grew its holdings in shares of SBA Communications by 0.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company’s stock worth $1,577,000 after acquiring an additional 57 shares during the period. Institutional investors own 97.35% of the company’s stock.

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.