Insider Selling: SBA Communications Co. (NASDAQ:SBAC) VP Sells $495,213.62 in Stock

SBA Communications Co. (NASDAQ:SBAC) VP Joshua Koenig sold 2,209 shares of the 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 completion of the transaction, the vice president now directly 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

SBA Communications Stock Performance

SBA Communications stock opened at $216.48 on Thursday. The company has a market capitalization of $23.30 billion, a PE ratio of 34.15, a P/E/G ratio of 0.74 and a beta of 0.74. The company has a 50 day moving average price of $206.59 and a 200-day moving average price of $220.49. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 2.05%. SBA Communications’s payout ratio is 63.98%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SBAC shares. Barclays lowered their price objective on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. JMP Securities assumed coverage on shares of SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.54.

Institutional Investors Weigh In On SBA Communications

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of SBA Communications by 59.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company’s stock valued at $973,000 after purchasing an additional 1,511 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the 3rd quarter valued at about $35,000. CWA Asset Management Group LLC purchased a new stake in shares of SBA Communications in the 3rd quarter worth approximately $331,000. Finally, Assetmark Inc. boosted its stake in shares of SBA Communications by 4,633.3% during the third quarter. Assetmark Inc. now owns 426 shares of the technology company’s stock valued at $103,000 after purchasing an additional 417 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

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.