Cetera Investment Advisers Has $1.30 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Cetera Investment Advisers cut its position in SBA Communications Co. (NASDAQ:SBAC) by 36.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,596 shares of the technology company’s stock after selling 3,798 shares during the period. Cetera Investment Advisers’ holdings in SBA Communications were worth $1,295,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in SBA Communications by 0.5% in the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock worth $3,763,691,000 after purchasing an additional 88,339 shares during the period. Principal Financial Group Inc. raised its holdings in shares of SBA Communications by 54.9% during the first quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock worth $931,844,000 after acquiring an additional 1,524,302 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of SBA Communications by 13.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after acquiring an additional 233,179 shares during the period. American Century Companies Inc. raised its holdings in shares of SBA Communications by 15.5% during the second quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock worth $233,654,000 after acquiring an additional 159,433 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of SBA Communications by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock worth $213,773,000 after acquiring an additional 33,507 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBAC has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. The Goldman Sachs Group raised their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Wells Fargo & Company raised their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. KeyCorp raised their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Royal Bank of Canada raised their target price on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $251.58.

SBA Communications Price Performance

Shares of SBAC opened at $248.75 on Thursday. The firm has a 50-day moving average of $232.92 and a 200-day moving average of $212.04. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The company has a market cap of $26.73 billion, a PE ratio of 48.77, a price-to-earnings-growth ratio of 0.70 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. During the same period last year, the business earned $3.24 EPS. The business’s revenue was down 2.7% on a year-over-year basis. Analysts expect that SBA Communications Co. will post 12.52 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Activity

In other news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,590 shares of company stock valued at $11,483,981 in the last quarter. Company insiders own 1.30% of the company’s stock.

SBA Communications 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.