Massachusetts Financial Services Co. MA Lowers Holdings in SBA Communications Co. (NASDAQ:SBAC)

Massachusetts Financial Services Co. MA decreased its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,640,804 shares of the technology company's stock after selling 44,882 shares during the period. Massachusetts Financial Services Co. MA owned about 1.53% of SBA Communications worth $334,396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of SBA Communications in the 4th quarter worth $268,287,000. Wealthfront Advisers LLC grew its stake in shares of 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 period. JPMorgan Chase & Co. increased its position in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Victory Capital Management Inc. lifted its stake 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 purchasing an additional 565,137 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of SBA Communications by 39.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,100,724 shares of the technology company's stock worth $224,328,000 after buying an additional 312,125 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently weighed in on SBAC shares. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. JMP Securities initiated coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an "outperform" rating and a $250.00 target price for the company. Wells Fargo & Company upped their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Finally, Barclays raised their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. 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 company's stock. According to MarketBeat.com, SBA Communications presently has an average rating of "Moderate Buy" and a consensus price target of $251.92.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company's stock.

SBA Communications Stock Down 2.0 %

NASDAQ SBAC traded down $4.35 during trading hours on Monday, hitting $215.57. 740,040 shares of the company were exchanged, compared to its average volume of 876,722. The stock has a market cap of $23.20 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The stock has a 50-day moving average price of $213.48 and a 200 day moving average price of $218.48.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.06%. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. SBA Communications's payout ratio is presently 63.98%.

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.