Massachusetts Financial Services Co. MA Has $334.40 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

Massachusetts Financial Services Co. MA decreased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 1,640,804 shares of the technology company’s stock after selling 44,882 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in SBA Communications were worth $334,396,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SBAC. Oak Thistle LLC lifted its holdings in shares of SBA Communications by 76.1% in the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after purchasing an additional 2,863 shares in the last quarter. Czech National Bank grew its stake in SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after buying an additional 1,421 shares in the last quarter. First Hawaiian Bank raised its stake in shares of SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after purchasing an additional 5,897 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of SBA Communications by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after buying an additional 38,725 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of SBA Communications by 49.3% in the fourth quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock worth $141,205,000 after buying an additional 226,878 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Down 0.5 %

Shares of SBA Communications stock opened at $219.34 on Thursday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The firm has a market capitalization of $23.60 billion, a P/E ratio of 34.60, a P/E/G ratio of 0.74 and a beta of 0.74. The business has a fifty day simple moving average of $212.38 and a two-hundred day simple moving average of $218.90.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $1.11 per share. The ex-dividend date was Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.02%. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction 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 directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JMP Securities initiated coverage on shares of SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Morgan Stanley started coverage on SBA Communications in a research report on Tuesday. They set an “equal weight” rating and a $240.00 target price for the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $251.92.

SBA Communications 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.