SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,812 shares of the technology company’s stock after purchasing an additional 528 shares during the quarter. Asset Management One Co. Ltd.’s holdings in SBA Communications were worth $11,139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Ballentine Partners LLC acquired a new position in SBA Communications during the 4th quarter valued at approximately $511,000. UMB Bank n.a. raised its stake in SBA Communications by 12.0% during the 4th quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock valued at $171,000 after acquiring an additional 72 shares in the last quarter. Independence Bank of Kentucky raised its stake in SBA Communications by 96.3% during the 4th quarter. Independence Bank of Kentucky now owns 265 shares of the technology company’s stock valued at $67,000 after acquiring an additional 130 shares in the last quarter. Washington Capital Management Inc. raised its stake in SBA Communications by 50.5% during the 4th quarter. Washington Capital Management Inc. now owns 3,085 shares of the technology company’s stock valued at $783,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in SBA Communications by 6.0% during the 4th quarter. Blue Trust Inc. now owns 1,391 shares of the technology company’s stock valued at $353,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling

In related news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now directly owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

SBA Communications Stock Performance

SBAC opened at $213.40 on Monday. SBA Communications Co. has a one year low of $185.23 and a one year high of $267.42. The stock’s fifty day moving average is $215.11 and its 200-day moving average is $222.43. The company has a market capitalization of $23.07 billion, a PE ratio of 46.29, a P/E/G ratio of 1.31 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The firm had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.11 EPS. On average, equities research analysts forecast that SBA Communications Co. will post 12.59 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, March 13th. SBA Communications’s payout ratio is presently 85.03%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several recent analyst reports. Barclays cut their target price on SBA Communications from $265.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 5th. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research note on Thursday, March 7th. Finally, BMO Capital Markets cut their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $268.38.

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.