Keybank National Association OH Sells 1,408 Shares of SBA Communications Co. (NASDAQ:SBAC)

Keybank National Association OH decreased its position in SBA Communications Co. (NASDAQ:SBAC) by 53.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,251 shares of the technology company’s stock after selling 1,408 shares during the quarter. Keybank National Association OH’s holdings in SBA Communications were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Oak Thistle LLC raised its position in SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after buying an additional 2,863 shares during the last quarter. Czech National Bank raised its position in SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after buying an additional 1,421 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in SBA Communications by 14,529.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock worth $60,495,000 after buying an additional 249,610 shares during the last quarter. First Hawaiian Bank raised its position in SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after buying an additional 5,897 shares during the last quarter. Finally, Bank of Montreal Can raised its position in SBA Communications by 135.5% in the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock worth $100,351,000 after buying an additional 241,916 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the company’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 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 $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Trading Down 2.0 %

Shares of NASDAQ:SBAC opened at $220.42 on Wednesday. The stock has a 50 day moving average of $206.33 and a 200 day moving average of $220.51. The company has a market cap of $23.72 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. 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 disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.01%. SBA Communications’s payout ratio is 63.98%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays reduced their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus target price of $252.54.

SBA Communications 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.