Cwm LLC Purchases 3,290 Shares of SBA Communications Corporation (NASDAQ:SBAC)

Cwm LLC raised its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 32.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,488 shares of the technology company's stock after purchasing an additional 3,290 shares during the quarter. Cwm LLC's holdings in SBA Communications were worth $2,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dodge & Cox raised its position in shares of SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after purchasing an additional 5,722,740 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 worth $586,827,000 after acquiring an additional 71,023 shares in the last quarter. Deutsche Bank AG raised its holdings 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 buying an additional 134,624 shares during the period. Cohen & Steers Inc. grew its position in shares of SBA Communications by 29.8% during the 4th quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock worth $383,762,000 after buying an additional 432,644 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of SBA Communications by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,493,020 shares of the technology company's stock worth $304,277,000 after buying an additional 7,078 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 10,522 shares in the company, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.92% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SBAC has been the subject of several research analyst reports. Raymond James Financial restated a "strong-buy" rating and issued a $268.00 price objective (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Barclays raised their price objective on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report on Tuesday, April 29th. BMO Capital Markets lifted their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th. Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft downgraded SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price on the stock. in a research report on Tuesday, May 20th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $255.31.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $232.86 on Friday. The firm has a market cap of $25.02 billion, a PE ratio of 31.94, a PEG ratio of 1.93 and a beta of 0.78. SBA Communications Corporation has a 1 year low of $192.55 and a 1 year high of $252.64. The company has a 50 day simple moving average of $231.04 and a two-hundred day simple moving average of $220.11.

SBA Communications Announces Dividend

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