Cetera Investment Advisers Has $1.71 Million Stock Position in SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• Cetera Investment Advisers increased its stake in SBA Communications Corporation by 21.3%, owning a total of 7,790 shares valued at approximately $1.71 million after acquiring 1,370 additional shares.
• Wall Street analysts have mixed ratings on SBA Communications, with a current consensus rating of "Moderate Buy" and a price target averaging around $258.25.
• SBA Communications recently announced a quarterly dividend of $1.11, which translates to an annualized yield of 2.0%, with a payout ratio of 56.42%.

Cetera Investment Advisers increased its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 21.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,790 shares of the technology company's stock after purchasing an additional 1,370 shares during the period. Cetera Investment Advisers' holdings in SBA Communications were worth $1,714,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC increased its position in shares of SBA Communications by 23.9% during the 4th quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock valued at $260,000 after purchasing an additional 246 shares during the period. CWA Asset Management Group LLC acquired a new stake in SBA Communications during the first quarter valued at $302,000. GAMMA Investing LLC grew its stake in SBA Communications by 38.6% in the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock valued at $370,000 after purchasing an additional 469 shares in the last quarter. Praxis Investment Management Inc. purchased a new position in SBA Communications in the first quarter valued at about $290,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in SBA Communications by 14.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company's stock valued at $3,146,000 after purchasing an additional 1,769 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on SBAC shares. JMP Securities set a $280.00 price target on SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Citigroup reaffirmed an "outperform" rating on shares of SBA Communications in a research report on Tuesday, August 5th. Morgan Stanley boosted their price target on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Barclays boosted their price target on SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, UBS Group boosted their price target on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.25.

SBA Communications Stock Performance

Shares of SBAC stock traded down $2.29 during trading hours on Friday, hitting $220.85. The company had a trading volume of 569,133 shares, compared to its average volume of 823,651. SBA Communications Corporation has a 12 month low of $192.55 and a 12 month high of $252.64. The firm has a market capitalization of $23.73 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 2.03 and a beta of 0.77. The firm's fifty day moving average is $230.50 and its 200 day moving average is $223.47.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.07. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%. The company had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same period in the prior year, the company posted $3.29 EPS. The company's revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be given a dividend of $1.11 per share. The ex-dividend date is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a yield of 2.0%. SBA Communications's dividend payout ratio is 56.42%.

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.