LM Advisors LLC Sells 6,390 Shares of SBA Communications Co. (NASDAQ:SBAC)

LM Advisors LLC trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 54.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,388 shares of the technology company’s stock after selling 6,390 shares during the quarter. LM Advisors LLC’s holdings in SBA Communications were worth $1,098,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Oak Thistle LLC boosted its position in shares of SBA Communications by 76.1% during 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 last quarter. Czech National Bank lifted its holdings in shares of SBA Communications by 6.5% in the fourth 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of SBA Communications by 14,529.1% in the third 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 in the last quarter. First Hawaiian Bank lifted its holdings in shares of SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after acquiring an additional 5,897 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of SBA Communications by 135.5% in the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after purchasing an additional 241,916 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction 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 transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on SBAC. JMP Securities assumed coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Tuesday. Barclays boosted their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, March 21st. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $252.85.

SBA Communications Trading Up 0.2 %

Shares of NASDAQ SBAC opened at $214.70 on Thursday. The stock has a market cap of $23.10 billion, a PE ratio of 33.86, a P/E/G 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. The company has a 50-day moving average of $210.80 and a 200 day moving average of $219.70.

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 given a dividend of $1.11 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.07%. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

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.