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 shares of SBA Communications Co. (NASDAQ:SBAC) by 5.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,950 shares of the technology company’s stock after acquiring an additional 103 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in SBA Communications were worth $397,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Evermay Wealth Management LLC bought a new stake in SBA Communications in the fourth quarter valued at about $27,000. Oakworth Capital Inc. grew its position in shares of SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after buying an additional 144 shares during the period. CKW Financial Group bought a new stake in shares of SBA Communications in the 4th quarter valued at about $56,000. Sherman Asset Management Inc. acquired a new stake in shares of SBA Communications in the 4th quarter valued at approximately $73,000. Finally, Versant Capital Management Inc grew its holdings in 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 purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

SBAC has been the topic of several analyst reports. Barclays increased their target price on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities started coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $252.85.

Insider Activity at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the company’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 owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Up 0.8 %

Shares of SBAC stock opened at $216.38 on Friday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The company’s fifty day simple moving average is $211.04 and its 200-day simple moving average is $219.68. The firm has a market cap of $23.29 billion, a PE ratio of 34.13, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase 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 currently 63.98%.

About SBA Communications

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.