IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 736 Shares of SBA Communications Co. (NASDAQ:SBAC)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in SBA Communications Co. (NASDAQ:SBAC) by 12.0% during the fourth quarter, HoldingsChannel reports. The fund owned 5,384 shares of the technology company’s stock after selling 736 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in SBA Communications were worth $1,097,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in SBAC. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications in the fourth quarter valued at approximately $27,000. Graney & King LLC bought a new stake in SBA Communications during the 4th quarter valued at $29,000. Oakworth Capital Inc. lifted 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 acquiring an additional 144 shares in the last quarter. CKW Financial Group purchased a new stake in shares of SBA Communications during the fourth quarter worth $56,000. Finally, Versant Capital Management Inc boosted its holdings in shares of SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after acquiring an additional 53 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Barclays raised their price target 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. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $252.85.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications 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 of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Stock Up 0.8 %

SBAC opened at $216.38 on Friday. The stock has a market cap of $23.29 billion, a PE ratio of 34.13, a PEG ratio of 0.74 and a beta of 0.74. The business has a 50 day moving average of $211.04 and a 200-day moving average of $219.68. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $1.11 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.05%. SBA Communications’s payout ratio is presently 63.98%.

About SBA Communications

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.