Aviva PLC Lowers Holdings in SBA Communications Co. (NASDAQ:SBAC)

Aviva PLC reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 123,895 shares of the technology company’s stock after selling 2,356 shares during the period. Aviva PLC owned approximately 0.12% of SBA Communications worth $25,250,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in SBA Communications during the fourth quarter worth about $268,287,000. Wealthfront Advisers LLC grew its stake in shares of 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 worth $229,648,000 after purchasing an additional 1,122,064 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of 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. lifted its stake in shares of SBA Communications by 46.5% in 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 during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in SBA Communications by 39.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,100,724 shares of the technology company’s stock worth $224,328,000 after buying an additional 312,125 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business’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 sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This 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 available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of recent analyst reports. Barclays lifted their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, March 21st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Morgan Stanley assumed coverage on SBA Communications in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price for the company. Finally, JMP Securities began coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $251.92.

SBA Communications Trading Down 4.7 %

NASDAQ SBAC opened at $219.91 on Monday. The stock has a fifty day simple moving average of $213.48 and a 200-day simple moving average of $218.48. The stock has a market cap of $23.67 billion, a PE ratio of 34.69, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Thursday, March 13th. SBA Communications’s dividend payout ratio is currently 63.98%.

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.