Charles Schwab Investment Management Inc. Buys 38,725 Shares of SBA Communications Co. (NASDAQ:SBAC)

Charles Schwab Investment Management Inc. boosted its stake in SBA Communications Co. (NASDAQ:SBAC) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,308,511 shares of the technology company’s stock after acquiring an additional 38,725 shares during the period. Charles Schwab Investment Management Inc. owned 1.22% of SBA Communications worth $266,675,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBAC. Farther Finance Advisors LLC raised its holdings in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares during the period. Janney Montgomery Scott LLC increased its position in SBA Communications by 59.7% in the third quarter. Janney Montgomery Scott LLC now owns 4,041 shares of the technology company’s stock worth $973,000 after buying an additional 1,511 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of SBA Communications by 23.9% in the third quarter. Harbor Capital Advisors Inc. now owns 2,777 shares of the technology company’s stock valued at $668,000 after buying an additional 536 shares during the period. Van ECK Associates Corp lifted its position in shares of SBA Communications by 12.8% during the 3rd quarter. Van ECK Associates Corp now owns 25,644 shares of the technology company’s stock valued at $6,249,000 after buying an additional 2,905 shares during the last quarter. Finally, National Pension Service grew its stake in shares of SBA Communications by 12.8% during the 3rd quarter. National Pension Service now owns 178,966 shares of the technology company’s stock worth $43,077,000 after acquiring an additional 20,307 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SBAC shares. Wells Fargo & Company boosted their price objective on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Barclays reduced their price objective on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, JMP Securities started coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $253.07.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Trading Up 0.5 %

Shares of SBAC opened at $220.38 on Thursday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The company has a market cap of $23.70 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. The stock has a 50-day moving average price of $204.87 and a 200-day moving average price of $220.48.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.01%. SBA Communications’s payout ratio is presently 63.98%.

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.