Aviva PLC Decreases Stake in SBA Communications Co. (NASDAQ:SBAC)

Aviva PLC trimmed its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 123,895 shares of the technology company’s stock after selling 2,356 shares during the period. Aviva PLC’s holdings in SBA Communications were worth $25,250,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after purchasing an additional 50 shares in the last quarter. Versant Capital Management Inc lifted its holdings in SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after buying an additional 53 shares during the last quarter. Auxano Advisors LLC boosted its position in shares of SBA Communications by 2.3% during the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after acquiring an additional 54 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of SBA Communications by 5.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock valued at $225,000 after acquiring an additional 61 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in SBA Communications by 1.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company’s stock worth $1,011,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

NASDAQ:SBAC opened at $219.91 on Monday. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The firm’s fifty day moving average price is $213.48 and its 200 day moving average price is $218.48. 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. SBA Communications’s payout ratio is 63.98%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. JMP Securities started coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (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 Wednesday, April 2nd. Finally, Morgan Stanley initiated coverage on SBA Communications in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $251.92.

Insider Activity at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the 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 completion of the transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

About SBA Communications

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.