Cbre Investment Management Listed Real Assets LLC Cuts Holdings in SBA Communications Co. (NASDAQ:SBAC)

Cbre Investment Management Listed Real Assets LLC cut its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 22.9% during the 4th quarter, Holdings Channel reports. The firm owned 106,300 shares of the technology company’s stock after selling 31,485 shares during the quarter. Cbre Investment Management Listed Real Assets LLC’s holdings in SBA Communications were worth $21,664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBAC. Exchange Traded Concepts LLC boosted its stake in SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after acquiring an additional 50 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of 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 period. Versant Capital Management Inc raised its position 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 valued at $73,000 after purchasing an additional 53 shares during the period. Auxano Advisors LLC raised its position in shares of SBA Communications by 2.3% in the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock valued at $495,000 after purchasing an additional 54 shares during the period. Finally, Lake Street Advisors Group LLC increased its holdings in SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock worth $225,000 after acquiring an additional 61 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Down 1.0 %

SBAC opened at $219.35 on Wednesday. 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 $23.59 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 0.74 and a beta of 0.69. The company’s 50 day moving average is $204.51 and its 200 day moving average is $220.48.

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 given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.02%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SBAC. JMP Securities began coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. 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 reaffirmed an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Finally, Wells Fargo & Company raised their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. 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. According to MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $253.07.

Insider Buying and Selling

In other news, EVP Donald Day sold 2,321 shares of the 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 transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

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.