Barrow Hanley Mewhinney & Strauss LLC Raises Holdings in SBA Communications Co. (NASDAQ:SBAC)

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

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its stake in shares of SBA Communications by 1.8% during the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after purchasing an additional 81,566 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of SBA Communications by 16.6% during 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 buying an additional 605,872 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of SBA Communications by 8.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock valued at $379,290,000 after buying an additional 142,054 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock worth $363,015,000 after acquiring an additional 565,137 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of SBA Communications during the 4th quarter valued at $268,287,000. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Wells Fargo & Company upped their target price on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $252.85.

SBA Communications Stock Performance

SBAC stock opened at $216.84 on Friday. The firm’s fifty day moving average is $211.31 and its 200 day moving average is $219.36. The firm has a market cap of $23.34 billion, a PE ratio of 34.20, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $1.11 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.05%. SBA Communications’s dividend payout ratio is presently 63.98%.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

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.