Sequoia Financial Advisors LLC Decreases Stake in SBA Communications Co. (NASDAQ:SBAC)

Sequoia Financial Advisors LLC reduced its holdings in SBA Communications Co. (NASDAQ:SBAC) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,498 shares of the technology company’s stock after selling 155 shares during the period. Sequoia Financial Advisors LLC’s holdings in SBA Communications were worth $713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBAC. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the fourth quarter worth about $27,000. Oakworth Capital Inc. lifted its stake in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after buying an additional 144 shares in the last quarter. CKW Financial Group purchased a new position in shares of SBA Communications in the fourth quarter worth about $56,000. Versant Capital Management Inc lifted its stake in shares of SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after buying an additional 53 shares in the last quarter. Finally, Sherman Asset Management Inc. purchased a new position in shares of SBA Communications in the fourth quarter worth about $73,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of the firm’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 transaction of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, 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. Insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC opened at $218.23 on Monday. 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 $23.48 billion, a PE ratio of 34.42, a P/E/G ratio of 0.74 and a beta of 0.74. The firm has a 50-day simple moving average of $207.20 and a two-hundred day simple moving average of $220.27.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Analyst Upgrades and Downgrades

SBAC has been the topic of several research reports. Wells Fargo & Company raised their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. JMP Securities initiated coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $252.54.

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.