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

Charles Schwab Investment Management Inc. raised its position in SBA Communications Co. (NASDAQ:SBAC) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,127,767 shares of the technology company’s stock after acquiring an additional 6,107 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.04% of SBA Communications worth $261,371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Wetherby Asset Management Inc. raised its holdings in shares of SBA Communications by 2.2% in the first quarter. Wetherby Asset Management Inc. now owns 1,940 shares of the technology company’s stock worth $668,000 after buying an additional 41 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of SBA Communications by 4.6% in the first quarter. Stephens Inc. AR now owns 986 shares of the technology company’s stock worth $257,000 after buying an additional 43 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of SBA Communications by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 8,376 shares of the technology company’s stock worth $2,187,000 after buying an additional 44 shares during the last quarter. Atria Investments Inc raised its holdings in shares of SBA Communications by 0.5% in the first quarter. Atria Investments Inc now owns 8,822 shares of the technology company’s stock worth $2,303,000 after buying an additional 44 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of SBA Communications by 2.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,617 shares of the technology company’s stock worth $422,000 after buying an additional 44 shares during the last quarter. 92.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on SBAC. UBS Group decreased their price target on shares of SBA Communications from $335.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, August 1st. Morgan Stanley reduced their target price on shares of SBA Communications from $311.00 to $227.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Royal Bank of Canada reduced their target price on shares of SBA Communications from $276.00 to $265.00 and set an “outperform” rating for the company in a report on Monday, August 14th. Barclays reduced their target price on shares of SBA Communications from $296.00 to $251.00 and set an “overweight” rating for the company in a report on Wednesday, October 18th. Finally, BMO Capital Markets reduced their target price on shares of SBA Communications from $260.00 to $250.00 and set a “market perform” rating for the company in a report on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.12.

Insider Activity

In other news, Director Kevin L. Beebe sold 1,500 shares of SBA Communications stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $233.83, for a total value of $350,745.00. Following the sale, the director now owns 13,313 shares in the company, valued at $3,112,978.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

SBA Communications Stock Up 0.9 %

Shares of NASDAQ SBAC opened at $236.01 on Friday. The company’s 50-day simple moving average is $207.16 and its 200-day simple moving average is $221.20. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $312.34. The firm has a market cap of $25.58 billion, a price-to-earnings ratio of 51.98, a price-to-earnings-growth ratio of 1.28 and a beta of 0.55.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be given a $0.85 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $3.40 annualized dividend and a dividend yield of 1.44%. SBA Communications’s dividend payout ratio (DPR) is 74.89%.

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 in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.