SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Cypress Capital Group

Cypress Capital Group lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,075 shares of the technology company’s stock after selling 91 shares during the period. Cypress Capital Group’s holdings in SBA Communications were worth $1,034,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Oak Thistle LLC increased its holdings in SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after purchasing an additional 2,863 shares during the last quarter. Czech National Bank increased its holdings in SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after purchasing an additional 1,421 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in SBA Communications by 14,529.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock valued at $60,495,000 after purchasing an additional 249,610 shares during the last quarter. First Hawaiian Bank increased its holdings in SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after purchasing an additional 5,897 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in SBA Communications by 135.5% in the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after purchasing an additional 241,916 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC opened at $220.38 on Thursday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The stock has a market cap of $23.70 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. The firm has a fifty day moving average price of $204.87 and a 200 day moving average price of $220.48.

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 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 yield of 2.01%. SBA Communications’s payout ratio is 63.98%.

Insider Activity at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on SBAC shares. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays decreased their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company raised their price target 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. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, JMP Securities started coverage on shares of SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target for the company. Five 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.07.

SBA Communications Company 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.