Meiji Yasuda Asset Management Co Ltd. Acquires 103 Shares of SBA Communications Co. (NASDAQ:SBAC)

Meiji Yasuda Asset Management Co Ltd. raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 5.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,950 shares of the technology company’s stock after purchasing an additional 103 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in SBA Communications were worth $397,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Evermay Wealth Management LLC bought a new stake in SBA Communications in the 4th quarter valued at $27,000. Oakworth Capital Inc. raised 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 valued at $47,000 after purchasing an additional 144 shares during the period. CKW Financial Group acquired a new stake in shares of SBA Communications during the 4th quarter worth about $56,000. Versant Capital Management Inc boosted its holdings in shares of SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after buying an additional 53 shares during the period. Finally, Sherman Asset Management Inc. acquired a new position in SBA Communications in the 4th quarter valued at about $73,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

SBA Communications Trading Up 0.8 %

SBAC opened at $216.38 on Friday. The company has a market cap of $23.29 billion, a P/E ratio of 34.13, a PEG ratio of 0.74 and a beta of 0.74. The company’s 50 day moving average is $211.04 and its 200-day moving average is $219.68. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.05%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. SBA Communications’s dividend payout ratio is presently 63.98%.

Wall Street Analyst Weigh In

SBAC has been the subject of several research reports. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities assumed coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Wells Fargo & Company lifted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock 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.