Mitsubishi UFJ Trust & Banking Corp Decreases Stake in SBA Communications Co. (NASDAQ:SBAC)

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 46.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,123 shares of the technology company’s stock after selling 328,252 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.35% of SBA Communications worth $75,648,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SBAC. Exchange Traded Concepts LLC raised its position in shares of SBA Communications by 15.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after buying an additional 50 shares in the last quarter. Versant Capital Management Inc raised its position in SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares during the period. Auxano Advisors LLC lifted its stake in shares of SBA Communications by 2.3% in the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock valued at $495,000 after purchasing an additional 54 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of SBA Communications by 5.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock worth $225,000 after purchasing an additional 61 shares during the period. Finally, Torray Investment Partners LLC increased its position in shares of SBA Communications by 0.7% during the 4th quarter. Torray Investment Partners LLC now owns 9,788 shares of the technology company’s stock valued at $1,995,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company increased their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. Finally, Barclays upped their target price on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Four investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.85.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $214.31 on Wednesday. The business’s 50-day moving average is $210.45 and its 200 day moving average is $219.73. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The firm has a market capitalization of $23.06 billion, a P/E ratio of 33.80, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.07%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is 63.98%.

Insider Activity at SBA Communications

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 transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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.