Natixis Advisors LLC Increases Stake in SBA Communications Corporation $SBAC

Natixis Advisors LLC raised its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,112 shares of the technology company’s stock after buying an additional 34,167 shares during the period. Natixis Advisors LLC owned about 0.12% of SBA Communications worth $25,554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of SBA Communications in the fourth quarter worth $302,774,000. Dodge & Cox increased its stake in shares of SBA Communications by 12.3% in the third quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after purchasing an additional 1,058,803 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of SBA Communications by 2.3% in the third quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after purchasing an additional 403,285 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of SBA Communications by 24.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after purchasing an additional 366,491 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of SBA Communications by 36.1% in the third quarter. Ameriprise Financial Inc. now owns 1,267,351 shares of the technology company’s stock worth $245,043,000 after purchasing an additional 336,071 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

SBAC opened at $207.85 on Friday. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $243.16. The company has a fifty day moving average of $206.31 and a 200 day moving average of $196.05. The stock has a market capitalization of $22.04 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.96 and a beta of 0.99.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd will be given a dividend of $1.25 per share. The ex-dividend date is Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 2.4%. SBA Communications’s dividend payout ratio (DPR) is 52.63%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Wells Fargo & Company raised their target price on shares of SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. Sanford C. Bernstein assumed coverage on shares of SBA Communications in a research note on Thursday, March 5th. They set a “market perform” rating and a $218.00 target price for the company. Barclays raised their target price on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, KeyCorp raised their target price on shares of SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $237.22.

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.