Nissay Asset Management Corp Japan ADV Has $2.63 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Nissay Asset Management Corp Japan ADV increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,928 shares of the technology company’s stock after acquiring an additional 77 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in SBA Communications were worth $2,627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBAC. Dodge & Cox grew its position in SBA Communications by 352.5% in the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock valued at $1,497,167,000 after purchasing an additional 5,722,740 shares in the last quarter. JPMorgan Chase & Co. grew its position in SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. Geode Capital Management LLC grew its position in SBA Communications by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company’s stock valued at $586,827,000 after purchasing an additional 71,023 shares in the last quarter. Deutsche Bank AG grew its position in SBA Communications by 5.9% in the fourth quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company’s stock valued at $491,549,000 after purchasing an additional 134,624 shares in the last quarter. Finally, Cohen & Steers Inc. grew its position in SBA Communications by 29.8% in the fourth quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company’s stock valued at $383,762,000 after purchasing an additional 432,644 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Up 1.7%

Shares of SBA Communications stock opened at $233.08 on Friday. SBA Communications Co. has a twelve month low of $185.44 and a twelve month high of $252.64. The company has a 50-day simple moving average of $224.46 and a two-hundred day simple moving average of $215.93. The stock has a market capitalization of $25.08 billion, a price-to-earnings ratio of 36.76, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is 60.91%.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now owns 10,522 shares of the company’s stock, valued at $2,531,487.98. This trade represents a 32.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SBAC shares. BMO Capital Markets raised their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “market perform” rating in a research report on Tuesday, April 29th. Wells Fargo & Company increased their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Finally, StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $252.38.

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.