Sentry Investment Management LLC Sells 66 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sentry Investment Management LLC reduced its stake in SBA Communications Co. (NASDAQ:SBAC) by 14.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 404 shares of the technology company’s stock after selling 66 shares during the period. Sentry Investment Management LLC’s holdings in SBA Communications were worth $82,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in SBAC. Ashton Thomas Securities LLC purchased a new stake in SBA Communications in the third quarter valued at approximately $26,000. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications during the 4th quarter valued at about $27,000. Capital Performance Advisors LLP bought a new stake in SBA Communications in the 3rd quarter worth approximately $35,000. Oakworth Capital Inc. lifted its position in 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 during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SBAC has been the topic of several research reports. Wells Fargo & Company lifted their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research 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 research report on Monday. JMP Securities started coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective on the stock. Finally, BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $253.07.

Insiders Place Their Bets

In related news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were 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 in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC stock opened at $218.20 on Friday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The firm has a market cap of $23.46 billion, a P/E ratio of 34.42, a P/E/G ratio of 0.74 and a beta of 0.69. The business’s 50 day moving average price is $203.52 and its 200-day moving average price is $220.38.

SBA Communications Increases Dividend

The business also recently disclosed 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. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, March 13th. 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.