SBA Communications Corporation (NASDAQ:SBAC) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 9.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,973 shares of the technology company's stock after acquiring 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.

A number of other institutional investors and hedge funds also recently bought and sold shares of SBAC. NewEdge Advisors LLC lifted its stake in SBA Communications by 23.9% during the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock valued at $260,000 after buying an additional 246 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in SBA Communications during the first quarter valued at about $302,000. Praxis Investment Management Inc. purchased a new stake in SBA Communications during the first quarter valued at about $290,000. Charles Schwab Investment Management Inc. lifted its stake in SBA Communications by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock valued at $266,675,000 after buying an additional 38,725 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in SBA Communications by 30,393.6% during the first quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock valued at $81,513,000 after buying an additional 369,282 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SBAC shares. Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Citigroup upped their target price on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley started 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. 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, Barclays upped their target price on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report 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, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.43.

Insider Activity

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

SBA Communications Stock Up 0.0%

Shares of SBAC stock opened at $230.80 on Friday. SBA Communications Corporation has a 12 month low of $187.06 and a 12 month high of $252.64. The business's 50 day moving average is $231.06 and its two-hundred day moving average is $217.46. The company has a market cap of $24.80 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd were given a $1.11 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.92%. SBA Communications's dividend 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.

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