Asset Management One Co. Ltd. Purchases 3,923 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Asset Management One Co. Ltd. grew its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 9.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,973 shares of the technology company's stock after purchasing an additional 3,923 shares during the quarter. Asset Management One Co. Ltd.'s holdings in SBA Communications were worth $9,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Dodge & Cox increased its stake in 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 in the last quarter. Norges Bank bought a new position in SBA Communications in the fourth quarter worth approximately $268,287,000. Wealthfront Advisers LLC boosted its holdings in SBA Communications by 23,553.0% in the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company's stock worth $229,648,000 after acquiring an additional 1,122,064 shares in the last quarter. BROOKFIELD Corp ON grew its stake in SBA Communications by 27,449.9% in the fourth quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock valued at $202,016,000 after acquiring an additional 987,647 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of SBA Communications by 46.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock valued at $363,015,000 after acquiring an additional 565,137 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Raymond James Financial reissued a "strong-buy" rating and issued a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Barclays boosted their target price on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 29th. Morgan Stanley started coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price target on the stock. JMP Securities boosted their price objective on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 29th. Finally, BMO Capital Markets increased their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.43.

Insider Transactions at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of SBA Communications 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 $2,531,487.98. The trade was a 32.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.92% of the company's stock.

SBA Communications Stock Performance

SBAC stock traded up $3.90 during midday trading on Tuesday, reaching $238.74. 846,659 shares of the company's stock traded hands, compared to its average volume of 881,944. The firm has a market capitalization of $25.65 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 1.94 and a beta of 0.78. The company has a 50-day moving average price of $231.39 and a two-hundred day moving average price of $217.76. SBA Communications Corporation has a 52 week low of $187.06 and a 52 week high of $252.64.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were paid a dividend of $1.11 per share. The ex-dividend date was Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.86%. SBA Communications's payout ratio is 60.91%.

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.