SBA Communications Co. (NASDAQ:SBAC) Shares Sold by DnB Asset Management AS

DnB Asset Management AS reduced its holdings in SBA Communications Co. (NASDAQ:SBAC) by 1.2% during the 4th quarter, Holdings Channel reports. The firm owned 17,643 shares of the technology company’s stock after selling 208 shares during the quarter. DnB Asset Management AS’s holdings in SBA Communications were worth $3,596,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC boosted its stake in SBA Communications by 1.3% during the 4th 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. Pictet Asset Management Holding SA grew its stake in shares of SBA Communications by 0.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 220,756 shares of the technology company’s stock valued at $44,990,000 after buying an additional 1,774 shares during the period. Nomura Asset Management Co. Ltd. grew its position in SBA Communications by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,136 shares of the technology company’s stock worth $6,346,000 after acquiring an additional 125 shares during the period. Norges Bank acquired a new stake in shares of SBA Communications during the 4th quarter worth about $268,287,000. Finally, Blair William & Co. IL increased its position in shares of SBA Communications by 4.3% during the fourth quarter. Blair William & Co. IL now owns 77,481 shares of the technology company’s stock valued at $15,791,000 after acquiring an additional 3,229 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Up 1.5 %

Shares of SBA Communications stock opened at $220.01 on Tuesday. The company has a 50-day moving average of $211.64 and a two-hundred day moving average of $219.06. The stock has a market cap of $23.68 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $1.11 dividend. The ex-dividend date was Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.02%. SBA Communications’s dividend payout ratio is currently 63.98%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of research reports. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Barclays increased their target price on SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. Finally, Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average target price of $252.85.

Insider Transactions at SBA Communications

In related 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 transaction of $495,213.62. Following the sale, the vice president now owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.