Mitsubishi UFJ Trust & Banking Corp Increases Holdings in SBA Communications Corporation $SBAC

Mitsubishi UFJ Trust & Banking Corp boosted its stake in SBA Communications Corporation (NASDAQ:SBAC) by 46.5% in the 3rd quarter, Holdings Channel reports. The firm owned 836,956 shares of the technology company’s stock after buying an additional 265,648 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in SBA Communications were worth $161,825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in SBA Communications by 0.5% in the second quarter. Vanguard Group Inc. now owns 17,760,251 shares of the technology company’s stock worth $4,170,817,000 after purchasing an additional 93,582 shares in the last quarter. Dodge & Cox lifted its holdings in SBA Communications by 1.5% during the 2nd quarter. Dodge & Cox now owns 8,608,494 shares of the technology company’s stock worth $2,021,619,000 after buying an additional 123,230 shares during the last quarter. State Street Corp grew its position in shares of SBA Communications by 0.5% in the 2nd quarter. State Street Corp now owns 4,613,181 shares of the technology company’s stock worth $1,083,359,000 after acquiring an additional 24,793 shares in the last quarter. Invesco Ltd. grew its position in shares of SBA Communications by 19.8% in the 2nd quarter. Invesco Ltd. now owns 1,573,538 shares of the technology company’s stock worth $369,530,000 after acquiring an additional 259,876 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of SBA Communications in the 2nd quarter valued at approximately $351,084,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

SBAC opened at $187.16 on Friday. The stock’s 50 day moving average price is $190.83 and its 200 day moving average price is $201.86. The stock has a market cap of $19.94 billion, a P/E ratio of 24.40, a P/E/G ratio of 1.74 and a beta of 0.87. SBA Communications Corporation has a 12 month low of $179.89 and a 12 month high of $245.16.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The company had revenue of $732.33 million for the quarter, compared to analyst estimates of $715.65 million. During the same period last year, the company earned $3.32 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, November 13th. SBA Communications’s payout ratio is 57.89%.

Analyst Ratings Changes

Several analysts have weighed in on SBAC shares. Royal Bank Of Canada lowered their target price on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Williams Trading set a $237.00 price target on shares of SBA Communications in a report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. JPMorgan Chase & Co. cut their target price on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Finally, Morgan Stanley lowered their target price on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $235.18.

About SBA Communications

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.