Pictet Asset Management Holding SA Acquires 1,774 Shares of SBA Communications Co. (NASDAQ:SBAC)

Pictet Asset Management Holding SA raised its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.8% in the fourth quarter, HoldingsChannel reports. The firm owned 220,756 shares of the technology company’s stock after buying an additional 1,774 shares during the quarter. Pictet Asset Management Holding SA’s holdings in SBA Communications were worth $44,990,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SBAC. The Manufacturers Life Insurance Company lifted its position in shares of SBA Communications by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 87,054 shares of the technology company’s stock worth $20,954,000 after purchasing an additional 1,539 shares during the period. FMR LLC raised its stake in SBA Communications by 18.1% in the third quarter. FMR LLC now owns 387,967 shares of the technology company’s stock worth $93,384,000 after buying an additional 59,368 shares in the last quarter. Townsquare Capital LLC lifted its holdings in SBA Communications by 36.2% in the third quarter. Townsquare Capital LLC now owns 1,867 shares of the technology company’s stock worth $449,000 after buying an additional 496 shares during the period. Public Sector Pension Investment Board raised its position in shares of SBA Communications by 25.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 18,732 shares of the technology company’s stock worth $4,509,000 after acquiring an additional 3,820 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of SBA Communications by 377.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after purchasing an additional 700,791 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $216.84 on Monday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The stock’s fifty day moving average price is $211.31 and its 200-day moving average price is $219.20. The company has a market cap 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 business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Insider Transactions at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. 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 note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays raised their target price on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company boosted their price target on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $252.85.

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.