Russell Investments Group Ltd. Decreases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Russell Investments Group Ltd. lowered its position in SBA Communications Co. (NASDAQ:SBAC) by 3.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 357,024 shares of the technology company’s stock after selling 11,825 shares during the quarter. Russell Investments Group Ltd.’s holdings in SBA Communications were worth $72,715,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SBAC. Exchange Traded Concepts LLC boosted its holdings in SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after acquiring an additional 50 shares in the last quarter. Versant Capital Management Inc boosted its stake in 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 purchasing an additional 53 shares in the last quarter. Auxano Advisors LLC grew its position in 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 purchasing an additional 54 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock valued at $225,000 after purchasing an additional 61 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of SBA Communications by 1.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company’s stock worth $1,011,000 after buying an additional 64 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Insider Activity at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm’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 value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several research reports. Barclays upped their target price on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Morgan Stanley initiated coverage on SBA Communications in a report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price for the company. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday. Six 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. Based on data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $251.92.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $219.91 on Friday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The company’s fifty day moving average price is $213.48 and its 200 day moving average price is $218.63. The company has a market capitalization of $23.67 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $1.11 per share. The ex-dividend date was Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.02%. SBA Communications’s dividend payout ratio (DPR) is 63.98%.

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.