CWA Asset Management Group LLC Makes New Investment 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) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,371 shares of the technology company's stock, valued at approximately $302,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SBAC. Independence Bank of Kentucky purchased a new position in SBA Communications during the 1st quarter valued at about $28,000. Graney & King LLC bought a new position in shares of SBA Communications during the fourth quarter valued at $29,000. NBC Securities Inc. raised its holdings in SBA Communications by 1,575.0% in the first quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after buying an additional 189 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in SBA Communications by 22.0% in the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after acquiring an additional 45 shares during the last quarter. Finally, State of Wyoming raised its stake in shares of SBA Communications by 75.8% in the fourth quarter. State of Wyoming now owns 276 shares of the technology company's stock worth $56,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

Insider Activity at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the sale, the director now owns 10,522 shares of the company's stock, valued at $2,531,487.98. This trade represents a 32.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SBAC shares. Wall Street Zen lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Citigroup raised their target price on shares of SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. BMO Capital Markets boosted their price objective on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday, April 29th. Morgan Stanley assumed coverage on shares of SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price on the stock. Finally, JMP Securities increased their price target on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research note on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $253.43.

SBA Communications Trading Down 1.7%

Shares of NASDAQ SBAC traded down $3.92 during mid-day trading on Wednesday, reaching $232.68. The company had a trading volume of 493,917 shares, compared to its average volume of 886,336. The stock has a market cap of $25.00 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The business's 50-day moving average is $230.85 and its 200-day moving average is $217.20. SBA Communications Corporation has a 52 week low of $187.06 and a 52 week high of $252.64.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd were issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 1.91%. The ex-dividend date was Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

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.