Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 770 Shares of SBA Communications Co. (NASDAQ:SBAC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in SBA Communications Co. (NASDAQ:SBAC) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 178,586 shares of the technology company’s stock after selling 770 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in SBA Communications were worth $36,396,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its holdings in SBA Communications by 1.8% in the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after purchasing an additional 81,566 shares during the period. JPMorgan Chase & Co. raised its holdings in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after purchasing an additional 605,872 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in SBA Communications by 8.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock worth $379,290,000 after purchasing an additional 142,054 shares during the period. Victory Capital Management Inc. raised its holdings in SBA Communications by 46.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after acquiring an additional 565,137 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in SBA Communications by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after acquiring an additional 38,725 shares during the period. 97.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business’s 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 completion of the transaction, the vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SBAC has been the topic of a number of recent analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Barclays decreased their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company raised their price target on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, JMP Securities initiated coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $252.54.

SBA Communications Trading Down 1.5 %

SBAC opened at $219.79 on Thursday. The firm has a market cap of $23.65 billion, a P/E ratio of 34.67, a P/E/G 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. The stock has a 50-day moving average of $208.59 and a 200 day moving average of $220.20.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $1.11 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 2.02%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

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.