Schroder Investment Management Group Lowers Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Schroder Investment Management Group lowered its stake in SBA Communications Co. (NASDAQ:SBAC) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 200,742 shares of the technology company’s stock after selling 8,535 shares during the quarter. Schroder Investment Management Group’s holdings in SBA Communications were worth $40,815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications in the fourth quarter worth $27,000. Graney & King LLC bought a new position in SBA Communications in the 4th quarter worth about $29,000. Oakworth Capital Inc. boosted its stake 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 in the last quarter. CKW Financial Group purchased a new stake in SBA Communications during the 4th quarter valued at about $56,000. Finally, Sherman Asset Management Inc. bought a new stake in SBA Communications during the 4th quarter valued at about $73,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $220.42 on Wednesday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The company’s fifty day simple moving average is $211.96 and its 200-day simple moving average is $218.90. The stock has a market capitalization of $23.72 billion, a PE ratio of 34.77, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $1.11 per share. The ex-dividend date was 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 2.01%. SBA Communications’s payout ratio is 63.98%.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SBAC has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Morgan Stanley began coverage on SBA Communications in a research note on Tuesday. They set an “equal weight” rating and a $240.00 target price on the stock. JMP Securities initiated coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. BMO Capital Markets reaffirmed 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, Barclays boosted their target price on SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus target price of $251.92.

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.