SBA Communications Co. (NASDAQ:SBAC) Stock Position Raised by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 46.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,191 shares of the technology company’s stock after buying an additional 3,222 shares during the period. Mizuho Securities USA LLC’s holdings in SBA Communications were worth $2,077,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Evermay Wealth Management LLC purchased a new position in SBA Communications in the 4th quarter worth about $27,000. Oakworth Capital Inc. increased its position in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after acquiring an additional 144 shares in the last quarter. CKW Financial Group purchased a new position in shares of SBA Communications in the fourth quarter worth approximately $56,000. Versant Capital Management Inc raised its holdings in shares of SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after acquiring an additional 53 shares during the period. Finally, Sherman Asset Management Inc. purchased a new stake in shares of SBA Communications in the 4th quarter valued at approximately $73,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Joshua Koenig sold 2,209 shares of the business’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 sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Stock Down 1.3 %

NASDAQ SBAC opened at $218.69 on Tuesday. The stock has a market capitalization of $23.53 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The company has a 50 day moving average price of $210.06 and a two-hundred day moving average price of $219.90.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $1.11 dividend. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.03%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is currently 63.98%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SBAC shares. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Wells Fargo & Company raised their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. JMP Securities assumed coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. Finally, Barclays increased their price target on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $252.85.

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.