Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in SBA Communications Co. (NASDAQ:SBAC)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 3.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 163,079 shares of the technology company’s stock after acquiring an additional 5,307 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in SBA Communications were worth $32,909,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Oak Thistle LLC grew 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 worth $1,350,000 after buying an additional 2,863 shares during the last quarter. Czech National Bank boosted its holdings in SBA Communications by 6.5% in the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after acquiring an additional 1,421 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in SBA Communications by 14,529.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock worth $60,495,000 after acquiring an additional 249,610 shares in the last quarter. First Hawaiian Bank grew its stake in shares of SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after acquiring an additional 5,897 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of SBA Communications by 3.0% during the fourth 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. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC opened at $216.84 on Friday. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The business has a fifty day moving average of $211.31 and a 200 day moving average of $219.36. The firm has a market capitalization of $23.34 billion, a P/E ratio of 34.20, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is 63.98%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SBAC. JMP Securities initiated coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Finally, Barclays lifted their target price on SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $252.85.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by 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.