SBA Communications Co. (NASDAQ:SBAC) Stock Holdings Lessened by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its stake in SBA Communications Co. (NASDAQ:SBAC) by 4.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,568 shares of the technology company’s stock after selling 130 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in SBA Communications were worth $523,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SBAC. Evermay Wealth Management LLC purchased a new position in SBA Communications in the 4th quarter worth about $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications during the fourth quarter valued at approximately $29,000. Oakworth Capital Inc. lifted its position 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 valued at $47,000 after acquiring an additional 144 shares in the last quarter. CKW Financial Group acquired a new position in SBA Communications in the 4th quarter worth approximately $56,000. Finally, Sherman Asset Management Inc. purchased a new position in SBA Communications during the 4th quarter worth approximately $73,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. Wells Fargo & Company upped their target price on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. BMO Capital Markets restated a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Four investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.85.

SBA Communications Price Performance

NASDAQ SBAC opened at $216.84 on Friday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The stock’s 50-day moving average is $211.31 and its two-hundred day moving average is $219.36. The firm has a market cap of $23.34 billion, a P/E ratio of 34.20, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.05%. The ex-dividend date was Thursday, March 13th. SBA Communications’s payout ratio is 63.98%.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of the company’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 sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

SBA Communications Company 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.