Amundi Sells 200,121 Shares of SBA Communications Co. (NASDAQ:SBAC)

Amundi cut its stake in SBA Communications Co. (NASDAQ:SBAC) by 19.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 805,575 shares of the technology company’s stock after selling 200,121 shares during the period. Amundi’s holdings in SBA Communications were worth $162,655,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of SBA Communications by 59.7% during the third 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 in the last quarter. Capital Performance Advisors LLP bought a new position in shares of SBA Communications in the third quarter valued at approximately $35,000. CWA Asset Management Group LLC acquired a new position in shares of SBA Communications in the 3rd quarter worth approximately $331,000. Finally, Assetmark Inc. grew its position in SBA Communications by 4,633.3% during the 3rd quarter. Assetmark Inc. now owns 426 shares of the technology company’s stock worth $103,000 after acquiring an additional 417 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Up 2.3 %

Shares of NASDAQ SBAC opened at $223.73 on Monday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The stock has a market cap of $24.06 billion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 0.74 and a beta of 0.74. The company’s fifty day moving average is $205.57 and its 200-day moving average is $220.52.

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 issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.98%. 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. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of research analyst reports. JMP Securities started coverage on shares of SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective on the stock. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Barclays dropped their price objective on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $252.54.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the stock in a transaction dated 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 owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

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.