Cbre Investment Management Listed Real Assets LLC Sells 31,485 Shares of SBA Communications Co. (NASDAQ:SBAC)

Cbre Investment Management Listed Real Assets LLC trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 22.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,300 shares of the technology company’s stock after selling 31,485 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned 0.10% of SBA Communications worth $21,664,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications during the third quarter worth about $26,000. Evermay Wealth Management LLC acquired a new position in shares of SBA Communications during the 4th quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications during the 3rd quarter worth approximately $35,000. Oakworth Capital Inc. increased its position in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SBAC. JMP Securities initiated coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Barclays dropped their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $253.07.

SBA Communications Price Performance

SBA Communications stock opened at $219.35 on Wednesday. The company has a market capitalization of $23.59 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 0.74 and a beta of 0.69. The company’s fifty day moving average price is $204.51 and its two-hundred day moving average price is $220.48. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. 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.