SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 20,715 shares of the technology company’s stock after selling 395 shares during the quarter. Amalgamated Bank’s holdings in SBA Communications were worth $4,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in SBA Communications by 219,537.5% in the third quarter. International Assets Investment Management LLC now owns 35,142 shares of the technology company’s stock valued at $8,459,000 after purchasing an additional 35,126 shares during the period. Assenagon Asset Management S.A. increased its holdings in SBA Communications by 1.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock worth $1,086,000 after purchasing an additional 64 shares during the period. abrdn plc raised its position in SBA Communications by 61.5% in the 3rd quarter. abrdn plc now owns 107,303 shares of the technology company’s stock valued at $25,803,000 after purchasing an additional 40,849 shares in the last quarter. Integrated Advisors Network LLC purchased a new position in shares of SBA Communications in the 3rd quarter valued at about $620,000. Finally, First Trust Direct Indexing L.P. grew its holdings in SBA Communications by 12.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,948 shares of the technology company’s stock worth $469,000 after acquiring an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Activity

In other news, EVP Donald Day sold 2,321 shares of SBA Communications 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 completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on 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 position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications Trading Down 0.1 %

Shares of SBAC opened at $217.90 on Friday. The company has a 50-day moving average of $203.81 and a two-hundred day moving average of $220.39. The stock has a market cap of $23.43 billion, a P/E ratio of 34.37, a PEG ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.04%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s payout ratio is 63.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SBAC. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays decreased their target price on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Finally, StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications currently 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.