Rafferty Asset Management LLC Sells 1,124 Shares of SBA Communications Co. (NASDAQ:SBAC)

Rafferty Asset Management LLC trimmed its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,154 shares of the technology company’s stock after selling 1,124 shares during the quarter. Rafferty Asset Management LLC’s holdings in SBA Communications were worth $2,885,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SBAC. Evermay Wealth Management LLC bought a new stake in SBA Communications during the fourth quarter worth about $27,000. Graney & King LLC acquired a new position in shares of SBA Communications during the fourth quarter worth approximately $29,000. Oakworth Capital Inc. lifted its position in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group acquired a new position in shares of SBA Communications during the fourth quarter worth approximately $56,000. Finally, Sherman Asset Management Inc. acquired a new position in shares of SBA Communications during the fourth quarter worth approximately $73,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Performance

SBAC opened at $235.51 on Tuesday. The firm’s fifty day moving average is $224.85 and its two-hundred day moving average is $215.90. The firm has a market cap of $25.34 billion, a PE ratio of 37.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a twelve month low of $185.44 and a twelve month high of $252.64.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be issued a $1.11 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.89%. SBA Communications’s dividend payout ratio (DPR) is presently 60.91%.

Insider Transactions at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the 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 owns 10,522 shares of the company’s stock, valued at $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly 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 disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SBAC. Bank of America began coverage on shares of SBA Communications in a research report on Monday. They set a “buy” rating and a $260.00 target price on the stock. Raymond James reiterated a “strong-buy” rating and set a $268.00 target price (up from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Morgan Stanley began coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price on the stock. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.93.

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.