Clearbridge Investments LLC Has $64.31 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Clearbridge Investments LLC cut its stake in SBA Communications Co. (NASDAQ:SBAC) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 315,544 shares of the technology company’s stock after selling 1,366 shares during the quarter. Clearbridge Investments LLC’s holdings in SBA Communications were worth $64,308,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SBAC. Evermay Wealth Management LLC bought a new stake in SBA Communications in the 4th quarter valued at $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth $29,000. Oakworth Capital Inc. boosted its position in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the period. CKW Financial Group acquired a new position in shares of SBA Communications in the fourth quarter valued at about $56,000. Finally, Sherman Asset Management Inc. acquired a new position in shares of SBA Communications in the fourth quarter valued at about $73,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, March 25th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays lifted their price objective on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $252.85.

Insider Activity at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The stock was 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. This represents a 26.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

SBA Communications Trading Up 1.5 %

Shares of NASDAQ SBAC opened at $220.01 on Tuesday. The stock has a 50-day moving average price of $211.64 and a two-hundred day moving average price of $219.06. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The company has a market cap of $23.68 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.02%. 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. SBA Communications’s dividend payout ratio is currently 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.