SBA Communications Co. (NASDAQ:SBAC) Position Lifted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.9% during the fourth quarter, HoldingsChannel reports. The fund owned 11,364 shares of the technology company’s stock after acquiring an additional 105 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in SBA Communications were worth $2,883,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB lifted its position in shares of SBA Communications by 6.3% in the 4th quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock worth $68,854,000 after buying an additional 16,244 shares during the last quarter. Legacy Trust bought a new position in shares of SBA Communications in the 4th quarter worth about $3,256,000. Natixis Advisors L.P. lifted its position in shares of SBA Communications by 18.8% in the 3rd quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company’s stock worth $7,348,000 after buying an additional 5,814 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of SBA Communications in the 4th quarter worth about $2,122,000. Finally, Wakefield Asset Management LLLP lifted its position in shares of SBA Communications by 11.0% in the 4th quarter. Wakefield Asset Management LLLP now owns 13,964 shares of the technology company’s stock worth $3,543,000 after buying an additional 1,389 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on SBAC. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Thursday, March 7th. BMO Capital Markets dropped their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Finally, Barclays dropped their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $268.00.

SBA Communications Trading Up 0.8 %

SBA Communications stock opened at $198.30 on Wednesday. The stock has a market cap of $21.44 billion, a price-to-earnings ratio of 43.02, a PEG ratio of 1.21 and a beta of 0.56. The company’s 50-day moving average price is $210.70 and its two-hundred day moving average price is $222.84. SBA Communications Co. has a 52 week low of $185.23 and a 52 week high of $263.08.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.36). The company had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.11 EPS. Research analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.98 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 annualized dividend and a yield of 1.98%. SBA Communications’s dividend payout ratio (DPR) is presently 85.03%.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

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.