Erste Asset Management GmbH Cuts Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Erste Asset Management GmbH lowered its holdings in SBA Communications Co. (NASDAQ:SBAC) by 45.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 600 shares of the technology company’s stock after selling 500 shares during the period. Erste Asset Management GmbH’s holdings in SBA Communications were worth $122,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. State Street Corp increased its position in shares of SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after acquiring an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. Victory Capital Management Inc. grew its holdings in SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after purchasing an additional 565,137 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after purchasing an additional 38,725 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its stake in SBA Communications by 23,553.0% during the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock valued at $229,648,000 after acquiring an additional 1,122,064 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Finally, Wells Fargo & Company increased their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $252.54.

SBA Communications Stock Up 1.7 %

Shares of NASDAQ:SBAC opened at $218.23 on Friday. The company has a market cap of $23.48 billion, a PE ratio of 34.42, a P/E/G ratio of 0.74 and a beta of 0.74. The company’s 50-day moving average price is $207.20 and its 200 day moving average price is $220.32. 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 disclosed 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 is Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.03%. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm’s 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 transaction, the vice president now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, 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 disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.