SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC cut its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,455 shares of the technology company’s stock after selling 1,128 shares during the quarter. Trillium Asset Management LLC’s holdings in SBA Communications were worth $11,302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Exchange Traded Concepts LLC grew its stake in shares of SBA Communications by 15.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after purchasing an additional 50 shares during the period. Versant Capital Management Inc grew its stake in shares of SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after purchasing an additional 53 shares during the period. Auxano Advisors LLC boosted its position in shares of SBA Communications by 2.3% in the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after buying an additional 54 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in shares of SBA Communications by 5.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock worth $225,000 after buying an additional 61 shares in the last quarter. Finally, Torray Investment Partners LLC boosted its position in shares of SBA Communications by 0.7% in the 4th quarter. Torray Investment Partners LLC now owns 9,788 shares of the technology company’s stock worth $1,995,000 after buying an additional 67 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBAC has been the topic of several recent research reports. JMP Securities initiated coverage on shares of SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $252.54.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of the 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 sale, the executive vice president now directly 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. Insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC stock opened at $223.15 on Wednesday. The firm has a market cap of $24.01 billion, a P/E ratio of 35.20, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The firm’s 50-day simple moving average is $208.18 and its 200-day simple moving average is $220.21.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio 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.