Gulf International Bank UK Ltd Sells 78 Shares of SBA Communications Co. (NASDAQ:SBAC)

Gulf International Bank UK Ltd lessened its holdings in SBA Communications Co. (NASDAQ:SBAC) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,475 shares of the technology company’s stock after selling 78 shares during the period. Gulf International Bank UK Ltd’s holdings in SBA Communications were worth $1,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBAC. Ashton Thomas Securities LLC purchased a new position in shares of SBA Communications in the 3rd quarter worth approximately $26,000. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the 4th quarter worth approximately $27,000. Capital Performance Advisors LLP purchased a new position in shares of SBA Communications in the 3rd quarter worth approximately $35,000. Oakworth Capital Inc. boosted 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 during the last quarter. Finally, Farther Finance Advisors LLC lifted 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 valued at $52,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays dropped their price objective on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Wells Fargo & Company upped 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. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, JMP Securities assumed coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective on the stock. Five equities research 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $253.07.

SBA Communications Stock Performance

SBA Communications stock opened at $217.90 on Friday. The stock has a market cap of $23.43 billion, a P/E ratio of 34.37, a PEG ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The firm’s fifty day moving average price is $203.81 and its 200-day moving average price is $220.40.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $1.11 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.04%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is presently 63.98%.

Insider Transactions at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was 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 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.