UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 11,976 Shares of SBA Communications Co. (NASDAQ:SBAC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 898,360 shares of the technology company's stock after acquiring an additional 11,976 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.84% of SBA Communications worth $183,086,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Barclays PLC increased its position in shares of SBA Communications by 71.0% during the third quarter. Barclays PLC now owns 658,029 shares of the technology company's stock worth $158,386,000 after buying an additional 273,237 shares during the period. JPMorgan Chase & Co. increased its position in shares of SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after buying an additional 605,872 shares during the period. Merit Financial Group LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth $525,000. MassMutual Private Wealth & Trust FSB increased its position in shares of SBA Communications by 112.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 577 shares of the technology company's stock worth $118,000 after buying an additional 306 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of SBA Communications by 19.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 73,953 shares of the technology company's stock worth $15,072,000 after buying an additional 12,027 shares during the period. 97.35% of the stock is owned by institutional investors.

Insider Transactions at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were 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 now owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. This represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SBAC shares. BMO Capital Markets increased their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 29th. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Morgan Stanley initiated coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price on the stock. Wall Street Zen lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $253.43.

SBA Communications Stock Down 1.6%

SBAC opened at $228.27 on Friday. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 0.74 and a beta of 0.83. The firm has a 50-day moving average price of $225.65 and a 200-day moving average price of $216.13. SBA Communications Co. has a twelve month low of $185.44 and a twelve month high of $252.64.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.95%. SBA Communications's payout ratio is 60.91%.

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.

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