Citizens Financial Group Inc. RI Sells 490 Shares of SBA Communications Co. (NASDAQ:SBAC)

Citizens Financial Group Inc. RI cut its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,510 shares of the technology company’s stock after selling 490 shares during the period. Citizens Financial Group Inc. RI’s holdings in SBA Communications were worth $3,976,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SBAC. Ashton Thomas Securities LLC bought a new position in shares of SBA Communications during the 3rd quarter valued at approximately $26,000. Evermay Wealth Management LLC bought a new position in SBA Communications during the fourth quarter valued at $27,000. Farther Finance Advisors LLC lifted its position in SBA Communications by 32.5% during the third 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. Oakworth Capital Inc. grew its stake in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after buying an additional 144 shares in the last quarter. Finally, CKW Financial Group bought a new stake in shares of SBA Communications in the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $220.42 on Wednesday. The firm’s 50 day simple moving average is $206.33 and its 200-day simple moving average is $220.51. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The firm has a market cap of $23.72 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

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 dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 2.01%. SBA Communications’s payout ratio is 63.98%.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of analyst reports. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. BMO Capital Markets restated a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Barclays cut their price objective on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.54.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

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.