SBA Communications Co. (NASDAQ:SBAC) Stock Holdings Reduced by Brown Advisory Inc.

Brown Advisory Inc. trimmed its stake in SBA Communications Co. (NASDAQ:SBAC) by 81.6% during the fourth quarter, Holdings Channel reports. The fund owned 73,010 shares of the technology company’s stock after selling 323,583 shares during the quarter. Brown Advisory Inc.’s holdings in SBA Communications were worth $14,880,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of SBAC. NewEdge Advisors LLC boosted its stake in SBA Communications by 23.9% during the 4th quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company’s stock valued at $260,000 after purchasing an additional 246 shares during the period. Oak Thistle LLC grew its holdings in shares of SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after purchasing an additional 2,863 shares during the last quarter. Czech National Bank grew its position in SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after acquiring an additional 1,421 shares during the last quarter. First Hawaiian Bank grew its holdings in shares of SBA Communications by 91.0% during the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after purchasing an additional 5,897 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after acquiring an additional 38,725 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Trading Up 0.4 %

SBAC opened at $242.83 on Wednesday. The company has a market cap of $26.13 billion, a P/E ratio of 38.30, a PEG ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 1-year low of $185.44 and a 1-year high of $252.64. The company’s 50 day moving average is $222.66 and its 200-day moving average is $216.37.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Thursday, May 22nd. SBA Communications’s dividend payout ratio is currently 60.91%.

Insider Buying and Selling

In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now directly owns 10,522 shares of the company’s stock, valued at approximately $2,531,487.98. The trade was a 32.21 % decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SBAC shares. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities boosted their price target on SBA Communications from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Tuesday, April 29th. Raymond James reiterated a “strong-buy” rating and set a $268.00 target price (up previously from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Finally, Citigroup boosted their price target on SBA Communications from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $252.38.

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.