SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,171,945 shares of the technology company’s stock after buying an additional 38,047 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.09% of SBA Communications worth $297,311,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of SBA Communications by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,801,806 shares of the technology company’s stock worth $560,838,000 after acquiring an additional 21,792 shares in the last quarter. Invesco Ltd. boosted its holdings in SBA Communications by 140.6% in the third quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after purchasing an additional 1,252,764 shares in the last quarter. Ameriprise Financial Inc. increased its stake in SBA Communications by 115.3% in the third quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock valued at $271,838,000 after purchasing an additional 727,163 shares during the last quarter. Northern Trust Corp raised its holdings in SBA Communications by 1.0% during the third quarter. Northern Trust Corp now owns 1,209,592 shares of the technology company’s stock worth $242,124,000 after purchasing an additional 12,450 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of SBA Communications by 29.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 992,547 shares of the technology company’s stock worth $198,678,000 after buying an additional 226,113 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Up 0.4 %

SBAC stock traded up $0.70 on Wednesday, reaching $196.70. 326,482 shares of the company’s stock were exchanged, compared to its average volume of 1,000,289. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The stock has a fifty day moving average of $208.00 and a 200-day moving average of $222.65. The firm has a market cap of $21.27 billion, a PE ratio of 38.65, a P/E/G ratio of 0.57 and a beta of 0.59.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The business had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. During the same quarter last year, the firm posted $3.13 EPS. The business’s revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts predict that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen cut their target price on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Barclays reduced their price objective on SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Citigroup decreased their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. BMO Capital Markets decreased their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Finally, KeyCorp dropped their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $254.75.

Insider Buying and Selling

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the sale, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

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.