Mather Group LLC. Buys Shares of 349 SBA Communications Co. (NASDAQ:SBAC)

Mather Group LLC. bought a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) in the first quarter, Holdings Channel.com reports. The firm bought 349 shares of the technology company’s stock, valued at approximately $76,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Advisory Inc. raised its position in shares of SBA Communications by 7.9% during the 4th quarter. Brown Advisory Inc. now owns 2,091,103 shares of the technology company’s stock worth $530,492,000 after buying an additional 153,299 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of SBA Communications by 9.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,958,156 shares of the technology company’s stock worth $496,765,000 after buying an additional 166,554 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of SBA Communications by 115.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock worth $271,838,000 after purchasing an additional 727,163 shares in the last quarter. Northern Trust Corp raised its holdings in shares of SBA Communications by 1.0% in the 3rd quarter. Northern Trust Corp now owns 1,209,592 shares of the technology company’s stock worth $242,124,000 after purchasing an additional 12,450 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of SBA Communications by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,171,945 shares of the technology company’s stock worth $297,311,000 after purchasing an additional 38,047 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Trading Up 2.0 %

NASDAQ:SBAC opened at $194.63 on Friday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The firm’s fifty day simple moving average is $195.06 and its 200 day simple moving average is $215.64. The firm has a market capitalization of $20.91 billion, a PE ratio of 38.16, a PEG ratio of 0.61 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The business had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. During the same period last year, the business posted $3.13 EPS. SBA Communications’s revenue was down 2.6% compared to the same quarter last year. As a group, analysts anticipate that SBA Communications Co. will post 12.52 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SBAC shares. Citigroup cut their price target on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Barclays lowered their price objective on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Company lowered their price objective on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. KeyCorp lowered their price objective on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Finally, TD Cowen dropped their price target on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $252.17.

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.