Mizuho Securities USA LLC Grows Holdings in SBA Communications Co. (NASDAQ:SBAC)

Mizuho Securities USA LLC increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 46.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Blueshift Asset Management LLC acquired a new stake in shares of SBA Communications in the 4th quarter valued at about $243,000. iA Global Asset Management Inc. increased its holdings in SBA Communications by 15.3% in the fourth quarter. iA Global Asset Management Inc. now owns 8,828 shares of the technology company’s stock valued at $1,799,000 after buying an additional 1,174 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in SBA Communications during the fourth quarter valued at approximately $205,000. Signaturefd LLC lifted its holdings in SBA Communications by 16.4% during the 4th quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock worth $182,000 after buying an additional 126 shares during the last quarter. Finally, Cibc World Markets Corp grew its position in shares of SBA Communications by 12.3% in the 4th quarter. Cibc World Markets Corp now owns 48,249 shares of the technology company’s stock worth $9,833,000 after acquiring an additional 5,293 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

In related 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 owns 6,079 shares of the company’s stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Wells Fargo & Company increased their target price 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. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Barclays increased their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $252.85.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $218.69 on Tuesday. The company has a market capitalization of $23.53 billion, a P/E ratio of 34.49, a PEG ratio of 0.74 and a beta of 0.74. The business’s fifty day moving average price is $210.06 and its two-hundred day moving average price is $219.90. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

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 dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. SBA Communications’s payout ratio is 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.