Mitsubishi UFJ Asset Management Co. Ltd. Buys 5,307 Shares of SBA Communications Co. (NASDAQ:SBAC)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,079 shares of the technology company's stock after acquiring an additional 5,307 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of SBA Communications worth $32,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SBAC. Cerity Partners LLC lifted its holdings in shares of SBA Communications by 15.6% during the 3rd quarter. Cerity Partners LLC now owns 17,597 shares of the technology company's stock valued at $4,236,000 after buying an additional 2,376 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in SBA Communications by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 87,054 shares of the technology company's stock valued at $20,954,000 after acquiring an additional 1,539 shares in the last quarter. FMR LLC lifted its stake in SBA Communications by 18.1% in the third quarter. FMR LLC now owns 387,967 shares of the technology company's stock valued at $93,384,000 after acquiring an additional 59,368 shares during the last quarter. Townsquare Capital LLC grew its position in SBA Communications by 36.2% in the third quarter. Townsquare Capital LLC now owns 1,867 shares of the technology company's stock worth $449,000 after acquiring an additional 496 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of SBA Communications by 25.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 18,732 shares of the technology company's stock worth $4,509,000 after purchasing an additional 3,820 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

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SBA Communications Stock Up 4.9 %

NASDAQ SBAC traded up $10.66 during midday trading on Thursday, hitting $230.00. The company had a trading volume of 641,583 shares, compared to its average volume of 869,859. The firm has a fifty day simple moving average of $212.38 and a two-hundred day simple moving average of $218.90. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The stock has a market cap of $24.75 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors 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 1.93%. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. SBA Communications's payout ratio is currently 63.98%.

Insider Activity at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction 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 of the company's stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Barclays boosted their price target on SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Citizens Jmp raised SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. JMP Securities initiated coverage on SBA Communications in a research report on Monday, January 27th. They set an "outperform" rating and a $250.00 target price for the company. Finally, Wells Fargo & Company upped their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $251.92.

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.