Townsquare Capital LLC Has $229,000 Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Townsquare Capital LLC trimmed its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 39.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,125 shares of the technology company’s stock after selling 742 shares during the quarter. Townsquare Capital LLC’s holdings in SBA Communications were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBAC. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications in the 4th quarter valued at $27,000. Graney & King LLC acquired a new position in SBA Communications in the fourth quarter valued at $29,000. Oakworth Capital Inc. boosted its position in 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 acquired a new stake in SBA Communications during the 4th quarter worth about $56,000. Finally, Versant Capital Management Inc raised its position in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after acquiring an additional 53 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Up 2.6 %

Shares of SBAC opened at $231.42 on Wednesday. The stock has a market capitalization of $24.90 billion, a P/E ratio of 36.50, a PEG ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The firm has a fifty day simple moving average of $218.11 and a two-hundred day simple moving average of $216.85.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $1.11 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Thursday, March 13th. SBA Communications’s payout ratio is presently 63.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JMP Securities started coverage on SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Wells Fargo & Company boosted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, Barclays raised their target price on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $251.92.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred 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 directly owns 6,079 shares in the company, valued at $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 SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

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.