Cohen & Steers Inc. Has $383.76 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Cohen & Steers Inc. boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 29.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,883,065 shares of the technology company’s stock after buying an additional 432,644 shares during the period. Cohen & Steers Inc. owned approximately 1.75% of SBA Communications worth $383,762,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. MML Investors Services LLC boosted its position in shares of SBA Communications by 5.3% during the third quarter. MML Investors Services LLC now owns 8,028 shares of the technology company’s stock valued at $1,932,000 after buying an additional 407 shares during the last quarter. Barclays PLC grew its stake in shares of SBA Communications by 71.0% in the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock worth $158,386,000 after acquiring an additional 273,237 shares in the last quarter. M&T Bank Corp raised its holdings in shares of SBA Communications by 11.1% in the third quarter. M&T Bank Corp now owns 4,440 shares of the technology company’s stock valued at $1,069,000 after purchasing an additional 444 shares during the last quarter. Coldstream Capital Management Inc. bought a new position in shares of SBA Communications during the third quarter valued at about $266,000. Finally, Sanctuary Advisors LLC boosted its holdings in SBA Communications by 19.4% during the third quarter. Sanctuary Advisors LLC now owns 5,672 shares of the technology company’s stock worth $1,252,000 after purchasing an additional 921 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Up 3.3 %

SBAC stock opened at $219.18 on Monday. The firm has a 50 day moving average of $215.23 and a 200-day moving average of $217.31. The firm has a market capitalization of $23.59 billion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 12 month low of $183.64 and a 12 month 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 given a dividend of $1.11 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Thursday, March 13th. SBA Communications’s payout ratio is 63.98%.

Analyst Upgrades and Downgrades

SBAC has been the subject of several recent analyst reports. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective on the stock. BMO Capital Markets reissued a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Morgan Stanley started coverage on shares of SBA Communications in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and an average target price of $251.92.

Insider Transactions at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, 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 SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

SBA Communications Company 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.