SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 15.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,554 shares of the technology company’s stock after selling 292 shares during the period. Oppenheimer Asset Management Inc.’s holdings in SBA Communications were worth $317,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in SBA Communications by 59.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company’s stock worth $973,000 after buying an additional 1,511 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in SBA Communications by 23.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,777 shares of the technology company’s stock worth $668,000 after buying an additional 536 shares during the last quarter. Van ECK Associates Corp boosted its holdings in SBA Communications by 12.8% in the 3rd quarter. Van ECK Associates Corp now owns 25,644 shares of the technology company’s stock worth $6,249,000 after buying an additional 2,905 shares during the last quarter. Finally, National Pension Service boosted its holdings in SBA Communications by 12.8% in the 3rd quarter. National Pension Service now owns 178,966 shares of the technology company’s stock worth $43,077,000 after buying an additional 20,307 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several research analyst reports. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Barclays lowered their target price on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Finally, StockNews.com cut 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 given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and an average price target of $253.07.

SBA Communications Stock Down 0.7 %

Shares of NASDAQ SBAC opened at $218.74 on Friday. The firm has a market cap of $23.52 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The business’s 50 day moving average is $205.16 and its two-hundred day moving average is $220.46.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. SBA Communications’s payout ratio is presently 63.98%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction on Friday, December 20th. The shares were 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 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.