Massachusetts Financial Services Co. MA Has $356.61 Million Stock Position in SBA Communications Corporation (NASDAQ:SBAC)

Massachusetts Financial Services Co. MA lowered its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,620,856 shares of the technology company's stock after selling 19,948 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.51% of SBA Communications worth $356,605,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SBAC. Dodge & Cox increased its holdings in shares of SBA Communications by 352.5% in the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after purchasing an additional 5,722,740 shares during the period. Norges Bank acquired a new position in SBA Communications during the fourth quarter worth $268,287,000. BROOKFIELD Corp ON grew its holdings in SBA Communications by 27,449.9% during the fourth quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock worth $202,016,000 after acquiring an additional 987,647 shares during the period. Voyager Global Management LP acquired a new position in SBA Communications during the fourth quarter worth $95,786,000. Finally, Cohen & Steers Inc. grew its holdings in SBA Communications by 29.8% during the fourth quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock worth $383,762,000 after acquiring an additional 432,644 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SBAC shares. BMO Capital Markets upped their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a report on Tuesday, April 29th. Bank of America began coverage on SBA Communications in a report on Monday, May 19th. They set a "buy" rating and a $260.00 price objective on the stock. Morgan Stanley began coverage on SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price on the stock. in a report on Tuesday, May 20th. Finally, Scotiabank began coverage on SBA Communications in a report on Thursday. They issued a "sector perform" rating and a $252.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.31.

Insider Buying and Selling at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction dated 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 owned 10,522 shares of the company's stock, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.92% of the stock is owned by corporate insiders.

SBA Communications Trading Up 0.3%

Shares of SBA Communications stock traded up $0.62 during trading hours on Friday, reaching $233.48. The stock had a trading volume of 206,994 shares, compared to its average volume of 870,076. The firm has a 50 day simple moving average of $231.04 and a two-hundred day simple moving average of $220.11. The firm has a market capitalization of $25.09 billion, a price-to-earnings ratio of 32.04, a P/E/G ratio of 1.93 and a beta of 0.78. SBA Communications Corporation has a 1 year low of $192.55 and a 1 year high of $252.64.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were paid a $1.11 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.90%. SBA Communications's dividend payout ratio (DPR) is currently 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.