SBA Communications Co. (NASDAQ:SBAC) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lessened its holdings in SBA Communications Co. (NASDAQ:SBAC) by 63.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,109 shares of the technology company’s stock after selling 104,130 shares during the quarter. ExodusPoint Capital Management LP’s holdings in SBA Communications were worth $12,454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SBAC. Oak Thistle LLC raised its position in shares of SBA Communications by 76.1% during the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after acquiring an additional 2,863 shares in the last quarter. Czech National Bank increased its stake in SBA Communications by 6.5% in the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after purchasing an additional 1,421 shares during the last quarter. First Hawaiian Bank raised its holdings in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock worth $266,675,000 after buying an additional 38,725 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of SBA Communications by 49.3% in the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock valued at $141,205,000 after buying an additional 226,878 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Up 5.3 %

Shares of SBAC opened at $230.87 on Friday. The company has a market capitalization of $24.85 billion, a PE ratio of 36.41, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The company has a 50-day simple moving average of $213.02 and a 200-day simple moving average of $218.98.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $1.11 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 1.92%. SBA Communications’s payout ratio is 63.98%.

Analyst Ratings Changes

SBAC has been the topic of several research analyst reports. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley initiated coverage on SBA Communications in a research report on Tuesday. They set an “equal weight” rating and a $240.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Wells Fargo & Company lifted their price target on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $251.92.

Insider Activity at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 6,079 shares in the company, valued at $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 is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

About SBA Communications

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.