SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 39.6% during the fourth quarter, HoldingsChannel reports. The fund owned 1,100,724 shares of the technology company’s stock after acquiring an additional 312,125 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in SBA Communications were worth $224,328,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SBAC. Dodge & Cox boosted its stake 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 acquiring an additional 5,722,740 shares during the period. JPMorgan Chase & Co. boosted its stake in SBA Communications by 16.6% during the 3rd 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 holdings in SBA Communications by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company’s stock worth $586,827,000 after acquiring an additional 71,023 shares during the period. Deutsche Bank AG grew its stake in shares of SBA Communications by 5.9% in the 4th quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company’s stock worth $491,549,000 after purchasing an additional 134,624 shares during 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 worth $383,762,000 after buying an additional 432,644 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of analyst reports. Raymond James reissued a “strong-buy” rating and issued a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. JMP Securities increased their price objective on SBA Communications from $250.00 to $270.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 29th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 target price for the company. in a research note on Tuesday. Finally, Wells Fargo & Company increased their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

Insider Transactions at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the transaction, the director now owns 10,522 shares in the company, valued at $2,531,487.98. This represents a 32.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the 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 sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

SBA Communications Stock Down 1.6%

SBA Communications stock opened at $228.27 on Friday. SBA Communications Co. has a 12 month low of $185.44 and a 12 month high of $252.64. The stock has a market cap of $24.53 billion, a price-to-earnings ratio of 36.00, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The business has a 50 day moving average price of $225.65 and a two-hundred day moving average price of $216.13.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.95%. SBA Communications’s payout ratio is currently 60.91%.

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.