SBA Communications Corporation (NASDAQ:SBAC) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 11.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,463 shares of the technology company's stock after purchasing an additional 1,450 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in SBA Communications were worth $3,136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in shares of SBA Communications by 67.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 395 shares of the technology company's stock worth $80,000 after buying an additional 159 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in SBA Communications by 48.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,047 shares of the technology company's stock worth $417,000 after acquiring an additional 670 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock worth $266,675,000 after acquiring an additional 38,725 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in SBA Communications by 4.1% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,967 shares of the technology company's stock valued at $604,000 after acquiring an additional 116 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after purchasing an additional 565,137 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $237.59 on Thursday. SBA Communications Corporation has a 1-year low of $189.07 and a 1-year high of $252.64. The company has a market capitalization of $25.53 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 1.97 and a beta of 0.78. The business has a 50-day moving average of $231.67 and a 200-day moving average of $217.90.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.87%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is 60.91%.

Insider Activity

In other news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the transaction, the director directly owned 10,522 shares in the company, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SBAC shares. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a research note on Tuesday, May 20th. Wall Street Zen lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. JMP Securities boosted their target price on shares of SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a report on Tuesday, April 29th. Bank of America began coverage on shares of SBA Communications in a research note on Monday, May 19th. They set a "buy" rating and a $260.00 price target on the stock. Finally, Barclays boosted their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research note on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $253.43.

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.

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Corporation (NASDAQ:SBAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.