Xponance Inc. Sells 1,065 Shares of SBA Communications Co. (NASDAQ:SBAC)

Xponance Inc. lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,080 shares of the technology company’s stock after selling 1,065 shares during the quarter. Xponance Inc.’s holdings in SBA Communications were worth $3,073,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SBAC. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications during the fourth quarter valued at approximately $27,000. Oakworth Capital Inc. increased its position in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the last quarter. CKW Financial Group purchased a new stake in shares of SBA Communications during the fourth quarter valued at approximately $56,000. Versant Capital Management Inc increased its position in shares of 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 acquiring an additional 53 shares during the last quarter. Finally, Sherman Asset Management Inc. purchased a new stake in shares of SBA Communications during the fourth quarter valued at approximately $73,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Barclays decreased their target price on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company raised 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. JMP Securities assumed 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. Finally, 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. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $252.54.

Insider Activity at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $220.97 on Friday. The stock has a market cap of $23.78 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The stock has a fifty day moving average of $209.01 and a 200-day moving average of $220.21.

SBA Communications Increases Dividend

The firm also recently disclosed 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. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 2.01%. 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.