Mitsubishi UFJ Trust & Banking Corp Raises Holdings in SBA Communications Corporation $SBAC

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 46.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 836,956 shares of the technology company’s stock after purchasing an additional 265,648 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.78% of SBA Communications worth $161,825,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SBAC. Janney Montgomery Scott LLC raised its holdings in shares of SBA Communications by 0.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after acquiring an additional 46 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of SBA Communications by 20.0% during the second quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after acquiring an additional 50 shares during the last quarter. MAI Capital Management increased its position in SBA Communications by 7.9% during the 2nd quarter. MAI Capital Management now owns 680 shares of the technology company’s stock worth $160,000 after purchasing an additional 50 shares in the last quarter. Penserra Capital Management LLC raised its stake in SBA Communications by 12.5% in the 2nd quarter. Penserra Capital Management LLC now owns 587 shares of the technology company’s stock valued at $137,000 after purchasing an additional 65 shares during the last quarter. Finally, CVA Family Office LLC lifted its holdings in SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Up 1.0%

Shares of SBA Communications stock opened at $187.16 on Friday. The business’s fifty day moving average price is $190.83 and its 200 day moving average price is $201.86. SBA Communications Corporation has a twelve month low of $179.89 and a twelve month high of $245.16. The stock has a market capitalization of $19.94 billion, a P/E ratio of 24.40, a PEG ratio of 1.74 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. The company had revenue of $732.33 million for the quarter, compared to the consensus estimate of $715.65 million. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $3.32 EPS. As a group, sell-side analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 13th were issued a $1.11 dividend. The ex-dividend date was Thursday, November 13th. This represents a $4.44 annualized dividend and a yield of 2.4%. SBA Communications’s dividend payout ratio (DPR) is presently 57.89%.

Analyst Ratings Changes

A number of brokerages have recently commented on SBAC. Williams Trading set a $237.00 price target on shares of SBA Communications in a report on Tuesday, November 4th. Royal Bank Of Canada decreased their target price on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. BMO Capital Markets cut their price target on SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Finally, Wells Fargo & Company lowered their price objective on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.18.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.