Charles Schwab Investment Management Inc. Grows Stake in SBA Communications Co. (NASDAQ:SBAC)

Charles Schwab Investment Management Inc. raised its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 5.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,269,786 shares of the technology company's stock after buying an additional 62,555 shares during the period. Charles Schwab Investment Management Inc. owned about 1.18% of SBA Communications worth $305,637,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SBAC. Ashton Thomas Securities LLC purchased a new position in shares of SBA Communications in the 3rd quarter valued at about $26,000. Ridgewood Investments LLC purchased a new stake in SBA Communications in the 2nd quarter worth $32,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications in the 3rd quarter worth $35,000. Family Firm Inc. acquired a new position in SBA Communications during the second quarter worth $36,000. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of SBA Communications in the second quarter valued at about $49,000. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SBAC shares. Barclays increased their price objective on SBA Communications from $236.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. BMO Capital Markets boosted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Raymond James increased their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a "strong-buy" rating in a report on Tuesday, October 29th. TD Cowen boosted their target price on SBA Communications from $251.00 to $261.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Finally, StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $257.23.

SBA Communications Stock Up 0.6 %

NASDAQ SBAC traded up $1.23 on Friday, hitting $220.66. 579,295 shares of the stock were exchanged, compared to its average volume of 1,019,527. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The company has a 50-day moving average price of $234.22 and a 200-day moving average price of $217.17. The company has a market cap of $23.73 billion, a PE ratio of 34.80, a PEG ratio of 0.74 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company's revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.34 earnings per share. As a group, equities research analysts predict that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, November 14th. SBA Communications's payout ratio is currently 61.83%.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company's stock, valued at $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.30% of the company's stock.

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.