Charles Schwab Investment Management Inc. Boosts Holdings in SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in SBA Communications Corporation by 3.2% to own over 1.35 million shares, valuing its stake at approximately $297 million.
• Equities analysts show a positive outlook on SBA Communications, with price targets ranging from $235.00 to $280.00, and an average rating of "Moderate Buy."
• SBA Communications recently declared a quarterly dividend of $1.11 per share, representing a 2.0% yield with a payout ratio of 56.42%.

Charles Schwab Investment Management Inc. grew its position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,350,663 shares of the technology company's stock after acquiring an additional 42,152 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.26% of SBA Communications worth $297,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBAC. NewEdge Advisors LLC increased its holdings in SBA Communications by 23.9% during the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock worth $260,000 after buying an additional 246 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in SBA Communications during the first quarter worth about $302,000. GAMMA Investing LLC raised 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 stake in shares of SBA Communications during the 1st quarter valued at $290,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in SBA Communications by 14.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company's stock worth $3,146,000 after purchasing an additional 1,769 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Trading Down 1.0%

SBA Communications stock traded down $2.29 during trading on Friday, reaching $220.85. The company had a trading volume of 569,133 shares, compared to its average volume of 823,651. The firm's 50-day simple moving average is $230.50 and its 200 day simple moving average is $223.65. SBA Communications Corporation has a 52 week low of $192.55 and a 52 week high of $252.64. The firm has a market capitalization of $23.73 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the business posted $3.29 EPS. SBA Communications's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current 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 paid a dividend of $1.11 per share. The ex-dividend date of this dividend 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 presently 56.42%.

Analyst Ratings Changes

Several equities analysts recently commented on SBAC shares. Wells Fargo & Company increased their target price on shares of SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Wall Street Zen lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Morgan Stanley lifted their price target on SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. BMO Capital Markets upped their price target on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 29th. Finally, JMP Securities set a $280.00 target price on shares of SBA Communications and gave the stock a "market outperform" rating in a research note on Tuesday, August 5th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $258.25.

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.