SBA Communications Corporation $SBAC Stock Position Trimmed by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp trimmed its stake in SBA Communications by 1.0%, selling 8,223 shares and now holds 828,733 shares (~0.78% ownership) valued at about $160.36 million.
• Analysts maintain a generally positive view with an average rating of "Moderate Buy" and an average price target of $236.47, while several firms updated targets (e.g., UBS cut to $260, Barclays raised to $244, Truist upgraded to "Buy" with a $247 target).
• SBA Communications raised its quarterly dividend to $1.25 (annualized $5.00, ~2.3% yield) and reported Q4 EPS of $3.47, beating estimates by $0.22 though revenue slightly missed consensus.

Mitsubishi UFJ Trust & Banking Corp cut its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 828,733 shares of the technology company's stock after selling 8,223 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.78% of SBA Communications worth $160,357,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Fortune Financial Advisors LLC lifted its position in SBA Communications by 2.4% in the 3rd quarter. Fortune Financial Advisors LLC now owns 2,237 shares of the technology company's stock valued at $432,000 after purchasing an additional 53 shares during the last quarter. Prestige Wealth Management Group LLC lifted its position in SBA Communications by 3.6% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,715 shares of the technology company's stock valued at $332,000 after purchasing an additional 60 shares during the last quarter. Choreo LLC raised its position in shares of SBA Communications by 1.1% during the 3rd quarter. Choreo LLC now owns 6,047 shares of the technology company's stock worth $1,169,000 after buying an additional 63 shares in the last quarter. Norinchukin Bank The raised its position in shares of SBA Communications by 1.1% during the 3rd quarter. Norinchukin Bank The now owns 6,037 shares of the technology company's stock worth $1,167,000 after buying an additional 68 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of SBA Communications by 4.1% during the 3rd quarter. Versant Capital Management Inc now owns 1,761 shares of the technology company's stock worth $340,000 after buying an additional 70 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on SBAC shares. UBS Group dropped their price target on shares of SBA Communications from $275.00 to $260.00 and set a "buy" rating on the stock in a research report on Tuesday, January 20th. Barclays boosted their price target on shares of SBA Communications from $212.00 to $244.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Sanford C. Bernstein started coverage on shares of SBA Communications in a research report on Thursday, March 5th. They set a "market perform" rating and a $218.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of SBA Communications from $245.00 to $240.00 and set a "neutral" rating on the stock in a research report on Monday, January 12th. Finally, Truist Financial upgraded shares of SBA Communications from a "hold" rating to a "buy" rating and boosted their price target for the stock from $193.00 to $247.00 in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $236.47.

SBA Communications Price Performance

NASDAQ SBAC opened at $215.00 on Tuesday. The company's 50 day simple moving average is $197.50 and its 200 day simple moving average is $193.66. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $245.16. The company has a market capitalization of $22.74 billion, a P/E ratio of 22.56, a PEG ratio of 2.18 and a beta of 0.88.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, topping analysts' consensus estimates of $3.25 by $0.22. The firm had revenue of $719.58 million during the quarter, compared to analysts' expectations of $725.80 million. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $3.47 earnings per share. On average, analysts anticipate that SBA Communications Corporation will post 11.49 earnings per share for the current year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.3%. This is a boost from SBA Communications's previous quarterly dividend of $1.11. SBA Communications's dividend payout ratio is 52.47%.

SBA Communications Company 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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