MML Investors Services LLC Acquires 1,249 Shares of SBA Communications Co. (NASDAQ:SBAC)

MML Investors Services LLC grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,277 shares of the technology company's stock after buying an additional 1,249 shares during the quarter. MML Investors Services LLC's holdings in SBA Communications were worth $1,891,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SBAC. Dodge & Cox grew its holdings in SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after acquiring an additional 5,722,740 shares during the last quarter. Norges Bank purchased a new position in SBA Communications during the 4th quarter valued at about $268,287,000. Wealthfront Advisers LLC raised its position in SBA Communications by 23,553.0% during the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company's stock valued at $229,648,000 after purchasing an additional 1,122,064 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in SBA Communications by 16.6% in the 3rd 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. Finally, Victory Capital Management Inc. grew its position in shares of SBA Communications by 46.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after buying an additional 565,137 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Raymond James reaffirmed a "strong-buy" rating and issued a $268.00 target price (up from $265.00) on shares of SBA Communications in a research report on Tuesday. Barclays increased their price target on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets increased their target price on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $252.38.

Insider Activity

In related news, VP Joshua Koenig sold 2,209 shares of the firm'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 value of $495,213.62. Following the sale, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.92% of the company's stock.

SBA Communications Trading Up 6.8 %

Shares of SBAC opened at $238.50 on Wednesday. The company has a market cap of $25.67 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 0.74 and a beta of 0.83. The business's fifty day simple moving average is $220.02 and its two-hundred day simple moving average is $216.52. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is 63.98%.

SBA Communications Company 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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