CWA Asset Management Group LLC Acquires New Position in SBA Communications Corporation (NASDAQ:SBAC)

CWA Asset Management Group LLC purchased a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,371 shares of the technology company's stock, valued at approximately $302,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dodge & Cox raised its stake in shares of SBA Communications by 352.5% during the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after acquiring an additional 5,722,740 shares in the last quarter. Geode Capital Management LLC raised its position in SBA Communications by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company's stock valued at $586,827,000 after purchasing an additional 71,023 shares in the last quarter. Deutsche Bank AG raised its position in SBA Communications by 5.9% during the 4th quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company's stock valued at $491,549,000 after purchasing an additional 134,624 shares in the last quarter. Cohen & Steers Inc. raised its holdings in shares of SBA Communications by 29.8% in the fourth quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock valued at $383,762,000 after acquiring an additional 432,644 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in shares of SBA Communications by 8.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company's stock valued at $379,290,000 after purchasing an additional 142,054 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SBAC shares. JMP Securities boosted their price target on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Tuesday, April 29th. Barclays boosted their target price on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report on Tuesday, April 29th. Citigroup boosted their target price on shares of SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Finally, Wells Fargo & Company boosted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $253.43.

Insider Transactions at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the sale, the director now directly owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.92% of the company's stock.

SBA Communications Trading Up 0.4%

Shares of SBA Communications stock opened at $229.31 on Friday. The firm's 50 day simple moving average is $230.43 and its two-hundred day simple moving average is $217.01. SBA Communications Corporation has a 12-month low of $187.06 and a 12-month high of $252.64. The firm has a market capitalization of $24.64 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 1.90 and a beta of 0.78.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio is presently 60.91%.

SBA Communications Company 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.

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