Mutual of America Capital Management LLC Trims Stock Position in SBA Communications Corporation (NASDAQ:SBAC)

Mutual of America Capital Management LLC lowered its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,503 shares of the technology company’s stock after selling 377 shares during the period. Mutual of America Capital Management LLC’s holdings in SBA Communications were worth $2,751,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Dodge & Cox grew its stake in SBA Communications by 352.5% during the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock valued at $1,497,167,000 after acquiring an additional 5,722,740 shares in the last quarter. Geode Capital Management LLC grew its stake in SBA Communications by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company’s stock valued at $586,827,000 after acquiring an additional 71,023 shares in the last quarter. Deutsche Bank AG grew its stake in SBA Communications by 5.9% during the fourth quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company’s stock valued at $491,549,000 after acquiring an additional 134,624 shares in the last quarter. Cohen & Steers Inc. grew its stake in SBA Communications by 29.8% during the fourth quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company’s stock valued at $383,762,000 after acquiring an additional 432,644 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in SBA Communications by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,493,020 shares of the technology company’s stock valued at $304,277,000 after purchasing an additional 7,078 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

In related news, Director Jack Langer sold 5,000 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director directly owned 10,522 shares in the company, valued at $2,531,487.98. This represents a 32.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.92% of the stock is owned by corporate insiders.

SBA Communications Stock Performance

Shares of SBAC opened at $233.90 on Friday. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 1.92 and a beta of 0.78. SBA Communications Corporation has a fifty-two week low of $192.55 and a fifty-two week high of $252.64. The firm has a 50 day moving average price of $230.92 and a 200-day moving average price of $220.32.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were issued a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.90%. SBA Communications’s dividend payout ratio is currently 60.91%.

Analysts Set New Price Targets

Several brokerages have issued reports on SBAC. Bank of America began coverage on shares of SBA Communications in a research report on Monday, May 19th. They set a “buy” rating and a $260.00 target price for the company. BMO Capital Markets lifted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “market perform” rating in a research report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 target price for the company. in a research report on Tuesday, May 20th. UBS Group lifted their target price on shares of SBA Communications from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Finally, Scotiabank began coverage on shares of SBA Communications in a research report on Thursday. They set a “sector perform” rating and a $252.00 target price for the company. Eight equities research 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, the company has an average rating of “Moderate Buy” and an average target price of $255.31.

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.