Schroder Investment Management Group Trims Stake in SBA Communications Co. (NASDAQ:SBAC)

Schroder Investment Management Group reduced its holdings in SBA Communications Co. (NASDAQ:SBAC) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,742 shares of the technology company’s stock after selling 8,535 shares during the quarter. Schroder Investment Management Group owned 0.19% of SBA Communications worth $40,815,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after acquiring an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of SBA Communications by 8.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock valued at $379,290,000 after purchasing an additional 142,054 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after buying an additional 565,137 shares in the last quarter. Finally, Norges Bank bought a new stake in SBA Communications in the 4th quarter worth approximately $268,287,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Activity

In other SBA Communications news, 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 value 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. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SBAC. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays lifted their target price on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company increased 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. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.92.

SBA Communications Price Performance

Shares of NASDAQ 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 company’s 50-day moving average is $211.96 and its 200 day moving average is $218.90. The stock has a market capitalization of $23.72 billion, a P/E ratio of 34.77, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $1.11 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.01%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is currently 63.98%.

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.