Integrated Advisors Network LLC Sells 1,229 Shares of SBA Communications Co. (NASDAQ:SBAC)

Integrated Advisors Network LLC lessened its holdings in SBA Communications Co. (NASDAQ:SBAC) by 44.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,546 shares of the technology company’s stock after selling 1,229 shares during the quarter. Integrated Advisors Network LLC’s holdings in SBA Communications were worth $340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SBAC. Independence Bank of Kentucky acquired a new stake in SBA Communications during the first quarter worth about $28,000. Graney & King LLC bought a new stake in shares of SBA Communications during the 4th quarter worth approximately $29,000. NBC Securities Inc. boosted its position in shares of SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock worth $44,000 after acquiring an additional 189 shares in the last quarter. Farther Finance Advisors LLC increased its stake in SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company’s stock valued at $55,000 after acquiring an additional 45 shares during the last quarter. Finally, State of Wyoming increased its stake in SBA Communications by 75.8% in the fourth quarter. State of Wyoming now owns 276 shares of the technology company’s stock valued at $56,000 after acquiring an additional 119 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Citigroup boosted their target price on SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. JMP Securities upped their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 29th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Morgan Stanley assumed coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $253.43.

SBA Communications Stock Down 0.1%

Shares of SBAC opened at $227.83 on Friday. The business’s fifty day moving average is $228.82 and its 200 day moving average is $216.85. SBA Communications Co. has a 12-month low of $187.06 and a 12-month high of $252.64. The stock has a market cap of $24.48 billion, a P/E ratio of 35.94, a P/E/G ratio of 0.74 and a beta of 0.78.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be issued a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.95%. SBA Communications’s dividend payout ratio is currently 60.91%.

Insider Activity

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total value of $1,202,950.00. Following the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.92% of the stock is currently owned by corporate insiders.

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.