Mufg Securities Americas Inc. Takes $323,000 Position in SBA Communications Co. (NASDAQ:SBAC)

Mufg Securities Americas Inc. acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,587 shares of the technology company's stock, valued at approximately $323,000.

Several other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC boosted its stake in SBA Communications by 23.9% in the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock worth $260,000 after buying an additional 246 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in SBA Communications by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock worth $266,675,000 after buying an additional 38,725 shares in the last quarter. NEOS Investment Management LLC boosted its stake in SBA Communications by 29.3% in the fourth quarter. NEOS Investment Management LLC now owns 5,488 shares of the technology company's stock worth $1,118,000 after buying an additional 1,243 shares in the last quarter. Victory Capital Management Inc. boosted its stake in SBA Communications by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after buying an additional 565,137 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in SBA Communications by 35.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,476 shares of the technology company's stock worth $1,116,000 after buying an additional 1,435 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction 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. The trade was a 26.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack Langer sold 5,000 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the transaction, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. This trade represents a 32.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SBAC. JMP Securities lifted their price target on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday, April 29th. Morgan Stanley started coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price for the company. Raymond James reiterated a "strong-buy" rating and set a $268.00 target price (up from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. BMO Capital Markets upped their target price on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Tuesday, April 29th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, SBA Communications has a consensus rating of "Moderate Buy" and an average target price of $253.43.

SBA Communications Stock Performance

Shares of SBAC stock traded down $1.73 during trading hours on Tuesday, reaching $233.78. The company had a trading volume of 648,249 shares, compared to its average volume of 899,404. The firm has a market cap of $25.16 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The business has a fifty day moving average price of $224.85 and a 200-day moving average price of $215.90. SBA Communications Co. has a one year low of $185.44 and a one year high of $252.64.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

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.