Daiwa Securities Group Inc. Sells 76,849 Shares of SBA Communications Co. (NASDAQ:SBAC)

Daiwa Securities Group Inc. trimmed its holdings in SBA Communications Co. (NASDAQ:SBAC) by 72.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 29,682 shares of the technology company’s stock after selling 76,849 shares during the quarter. Daiwa Securities Group Inc.’s holdings in SBA Communications were worth $6,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SBAC. Ashton Thomas Securities LLC bought a new stake in shares of SBA Communications in the third quarter worth approximately $26,000. Evermay Wealth Management LLC purchased a new stake in SBA Communications in the fourth quarter worth approximately $27,000. Oakworth Capital Inc. grew its position in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares during the period. Farther Finance Advisors LLC raised its stake in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares during the last quarter. Finally, CKW Financial Group bought a new position in shares of SBA Communications during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Wells Fargo & Company boosted their price target on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $252.54.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction 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 sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction 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 sale, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

SBA Communications Stock Performance

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

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $1.11 per share. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.05%. This is a boost 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.