Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 20.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 197,056 shares of the company's stock after acquiring an additional 33,977 shares during the quarter, representing approximately 0.18% of SBA Communications worth $43.35 million. Other large investors have also recently adjusted their stakes: Jackson Square Partners LLC increased its position by 436.1%, now owning 137,650 shares valued at $30.284 million; Maryland State Retirement & Pension System boosted its stake by 1.7%, acquiring 1,571 shares; Chicago Partners Investment Group LLC increased its holdings by 50.8%, now owning 2,085 shares worth $501,000; Charles Schwab Investment Management Inc. increased its stake by 3.2%, now holding 1,350,663 shares worth $297.159 million; and ASR Vermogensbeheer N.V. acquired a new stake worth about $387,000. Hedge funds and other institutional investors collectively own 97.35% of the company's stock.\n\nSBA Communications reported earnings per share of $3.17 for the last quarter, exceeding analyst estimates of $3.10 by $0.07. The company posted a year-over-year revenue increase of 5.8% to $698.98 million, compared to the estimated $670.73 million. The company also announced a quarterly dividend of $1.11 per share, resulting in an annualized dividend of $4.44 and a dividend yield of 2.0%, with a payout ratio of 56.42%. The company reported a net margin of 31.19% and a negative return on equity of 16.83%.\n\nAnalyst ratings on SBA Communications have seen some shifts: Deutsche Bank lowered its rating from 'buy' to 'hold' with a price target of $247.00; Bank of America initiated coverage with a 'buy' rating and a $260.00 target; Citigroup reaffirmed an 'outperform' rating; Raymond James set a 'strong-buy' rating with a $265.00 target; and Barclays raised its price objective to $257.00 with an 'overweight' rating. Eight analysts have a 'hold' rating, eight have a 'buy' rating, and two have a 'strong buy' rating. The consensus rating is 'Moderate Buy' with an average target price of $258.25.\n\nSBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure, including towers, buildings, rooftops, distributed antenna systems (DAS), and small cells. It operates a portfolio of over 39,000 communications sites across the Americas, Africa, and Asia and is listed on the NASDAQ under the symbol SBAC. The company's stock traded down $1.74 to $219.11 during midday trading on Monday, with a volume of 602,767 shares, below its average of 823,651. The fifty-day moving average is $230.26 and the 200-day moving average is $223.80. The fifty-two week range is $192.55 to $252.64. The company has a market capitalization of $23.54 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 2.03, and a beta of 0.77.

Mitsubishi UFJ Asset Management Co. Ltd. Buys 33,977 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in SBA Communications Corporation (NASDAQ:SBAC) by 20.8% in the first quarter, acquiring 33,977 shares to bring its total holdings to 197,056 shares, representing approximately 0.18% of the company's equity valued at $43.35 million. Other institutional investors such as Jackson Square Partners, Maryland State Retirement & Pension System, Chicago Partners Investment Group, Charles Schwab, and ASR Vermogensbeheer N.V. also adjusted their positions. SBA Communications reported earnings per share of $3.17, exceeding estimates, with a 5.8% year-over-year revenue growth to $698.98 million and a quarterly dividend of $1.11 per share. Analyst ratings have shifted, with Deutsche Bank lowering its rating to 'hold' and Bank of America initiating coverage with a 'buy' rating. The company operates over 39,000 wireless communications sites across the Americas, Africa, and Asia and has a market capitalization of $23.54 billion.