SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lessened its holdings in SBA Communications Co. (NASDAQ:SBAC) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,510 shares of the technology company’s stock after selling 490 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in SBA Communications were worth $3,976,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of SBA Communications by 32.5% in the 3rd 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. Janney Montgomery Scott LLC increased its holdings in SBA Communications by 59.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company’s stock worth $973,000 after acquiring an additional 1,511 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of SBA Communications in the third quarter valued at about $331,000. Assetmark Inc. raised its holdings in shares of SBA Communications by 4,633.3% during the third quarter. Assetmark Inc. now owns 426 shares of the technology company’s stock valued at $103,000 after acquiring an additional 417 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in SBA Communications in the 3rd quarter valued at about $26,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC opened at $220.42 on Wednesday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The stock has a market capitalization of $23.72 billion, a PE ratio of 34.77, a PEG ratio of 0.74 and a beta of 0.74. The stock has a 50-day simple moving average of $206.33 and a 200-day simple moving average of $220.51.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is 63.98%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. 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 objective for the company. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Barclays decreased their price target 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. Finally, Wells Fargo & Company lifted 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. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $252.54.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the transaction, the vice president now owns 6,079 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value 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 $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

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.