Cynosure Group LLC Sells 97 Shares of SBA Communications Co. (NASDAQ:SBAC)

Cynosure Group LLC decreased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.4% in the 4th quarter, Holdings Channel reports. The fund owned 1,426 shares of the technology company’s stock after selling 97 shares during the quarter. Cynosure Group LLC’s holdings in SBA Communications were worth $291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Oak Thistle LLC raised its stake 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 valued at $1,350,000 after purchasing an additional 2,863 shares during the period. Czech National Bank raised its position in SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after buying an additional 1,421 shares during the last quarter. First Hawaiian Bank lifted its stake in SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after acquiring an additional 5,897 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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. Finally, Nordea Investment Management AB boosted its position in SBA Communications by 49.3% during the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock worth $141,205,000 after acquiring an additional 226,878 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on SBAC. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. JMP Securities started coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. Morgan Stanley started coverage on SBA Communications in a report on Tuesday. They set an “equal weight” rating and a $240.00 price target for the company. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. 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. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $251.92.

Insider Buying and Selling

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

SBA Communications Trading Up 5.3 %

NASDAQ:SBAC opened at $230.87 on Friday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The stock has a market capitalization of $24.85 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 0.74 and a beta of 0.74. The firm has a fifty day simple moving average of $213.02 and a two-hundred day simple moving average of $218.98.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 1.92%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. SBA Communications’s payout ratio is presently 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.