SBA Communications Co. (NASDAQ:SBAC) Position Increased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its position in SBA Communications Co. (NASDAQ:SBAC) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,136 shares of the technology company’s stock after purchasing an additional 125 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in SBA Communications were worth $6,346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications during the 4th quarter worth about $27,000. Graney & King LLC acquired a new position in SBA Communications in the fourth quarter worth approximately $29,000. Oakworth Capital Inc. raised its position in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares in the last quarter. CKW Financial Group acquired a new stake in SBA Communications in the fourth quarter valued at approximately $56,000. Finally, Sherman Asset Management Inc. acquired a new stake in SBA Communications in the fourth quarter valued at approximately $73,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now directly owns 6,079 shares of the company’s stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. JMP Securities assumed coverage on SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target for the company. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company raised their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.85.

SBA Communications Price Performance

Shares of SBAC stock opened at $220.01 on Tuesday. The stock’s fifty day simple moving average is $211.64 and its 200 day simple moving average is $219.06. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The firm has a market cap of $23.68 billion, a price-to-earnings ratio of 34.70, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $1.11 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.02%. The ex-dividend date was Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

SBA Communications Company 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.