Hsbc Holdings PLC Has $42.13 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

Hsbc Holdings PLC raised its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,873 shares of the technology company's stock after purchasing an additional 8,444 shares during the period. Hsbc Holdings PLC owned approximately 0.19% of SBA Communications worth $42,126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. J. Safra Sarasin Holding AG bought a new stake in SBA Communications in the 4th quarter worth $617,000. Lasalle Investment Management Securities LLC increased its position in SBA Communications by 36.8% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 43,924 shares of the technology company's stock valued at $8,952,000 after purchasing an additional 11,826 shares during the period. MML Investors Services LLC lifted its position in shares of SBA Communications by 15.6% in the 4th quarter. MML Investors Services LLC now owns 9,277 shares of the technology company's stock worth $1,891,000 after purchasing an additional 1,249 shares during the period. MetLife Investment Management LLC increased its position in shares of SBA Communications by 1.8% during the fourth quarter. MetLife Investment Management LLC now owns 28,453 shares of the technology company's stock valued at $5,799,000 after buying an additional 511 shares during the period. Finally, Natixis boosted its position in SBA Communications by 398.6% during the 4th quarter. Natixis now owns 68,923 shares of the technology company's stock valued at $14,047,000 after acquiring an additional 55,099 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.92% of the company's stock.

SBA Communications Price Performance

Shares of SBA Communications stock traded down $2.82 on Thursday, hitting $240.59. The company had a trading volume of 226,390 shares, compared to its average volume of 951,232. SBA Communications Co. has a 52 week low of $185.44 and a 52 week high of $252.64. The business has a 50-day simple moving average of $220.63 and a 200-day simple moving average of $216.70. The company has a market cap of $25.89 billion, a PE ratio of 37.95, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors 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 dividend on an annualized basis and a yield of 1.85%. SBA Communications's dividend payout ratio is currently 60.91%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SBAC shares. Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Citigroup lifted their target price on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday. JMP Securities lifted their price target on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Tuesday. Barclays boosted their price target on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, StockNews.com cut SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $252.38.

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.