Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Holdings in SBA Communications Corporation $SBAC

Key Points

• Mitsubishi UFJ Asset Management increased its stake in SBA Communications by 6.3% in the fourth quarter, bringing its holdings to 226,271 shares worth about $43.6 million.
• Wall Street sentiment is mixed but generally positive: analysts have a Moderate Buy consensus on SBAC, with an average price target of $237.74.
• SBA Communications reported quarterly EPS of $3.47, beating expectations, and also announced a quarterly dividend of $1.25 per share payable on June 17.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,271 shares of the technology company's stock after purchasing an additional 13,383 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.21% of SBA Communications worth $43,553,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Elevation Wealth Partners LLC lifted its stake in SBA Communications by 523.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company's stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Quent Capital LLC purchased a new position in SBA Communications in the third quarter valued at approximately $27,000. Fulcrum Asset Management LLP purchased a new position in SBA Communications in the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. lifted its stake in SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock valued at $36,000 after purchasing an additional 84 shares during the last quarter. Finally, High Point Wealth Management LLC purchased a new position in SBA Communications in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SBAC shares. Weiss Ratings upgraded SBA Communications from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, April 22nd. Sanford C. Bernstein started coverage on SBA Communications in a research note on Thursday, March 5th. They issued a "market perform" rating and a $218.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on SBA Communications from $245.00 to $240.00 and set a "neutral" rating on the stock in a research note on Monday, January 12th. UBS Group dropped their price objective on SBA Communications from $275.00 to $260.00 and set a "buy" rating on the stock in a research note on Tuesday, January 20th. Finally, Morgan Stanley upped their price objective on SBA Communications from $215.00 to $225.00 and gave the company an "equal weight" rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $237.74.

SBA Communications Price Performance

NASDAQ:SBAC opened at $218.25 on Friday. The company has a market cap of $23.09 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.17 and a beta of 1.03. The stock's fifty day moving average price is $199.70 and its two-hundred day moving average price is $194.74. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $243.16.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.22. The firm had revenue of $719.58 million for the quarter, compared to the consensus estimate of $725.80 million. SBA Communications had a negative return on equity of 20.90% and a net margin of 35.66%.The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.47 earnings per share. On average, analysts expect that SBA Communications Corporation will post 11.51 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd will be given a dividend of $1.25 per share. The ex-dividend date is Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.3%. SBA Communications's dividend payout ratio is currently 52.63%.

SBA Communications Profile

SBA Communications Corporation NASDAQ: SBAC is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.

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