National Bank of Canada FI Sells 3,453 Shares of SBA Communications Co. (NASDAQ:SBAC)

by · The Markets Daily

National Bank of Canada FI cut its position in SBA Communications Co. (NASDAQ:SBAC – Free Report) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,373 shares of the technology company’s stock after selling 3,453 shares during the quarter. National Bank of Canada FI owned 0.06% of SBA Communications worth $13,938,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Oak Thistle LLC increased its stake in shares of SBA Communications by 76.1% in the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after buying an additional 2,863 shares during the period. Czech National Bank raised its position in shares of SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after purchasing an additional 1,421 shares during the period. First Hawaiian Bank lifted its holdings in shares of 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 purchasing an additional 5,897 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after purchasing an additional 38,725 shares during the period. Finally, Nordea Investment Management AB increased its stake in SBA Communications by 49.3% during the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock valued at $141,205,000 after purchasing an additional 226,878 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Finally, Morgan Stanley started coverage on SBA Communications in a report on Tuesday. They set an “equal weight” rating and a $240.00 price target for the company. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $251.92.

Get Our Latest Stock Report on SBAC

Insider Activity

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred on Friday, March 7th. The shares were 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $219.91 on Friday. The stock has a market capitalization of $23.67 billion, a PE ratio of 34.69, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The business’s fifty day moving average price is $213.48 and its 200-day moving average price is $218.81.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

SBA Communications Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Co. (NASDAQ:SBAC – Free Report).