SBA Communications (NASDAQ:SBAC) Price Target Raised to $280.00

SBA Communications (NASDAQ:SBAC) had its target price boosted by KeyCorp from $230.00 to $280.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other research analysts have also weighed in on the company. The Goldman Sachs Group upped their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Morgan Stanley upped their target price on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft upped their price target on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. TD Cowen decreased their price target on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $251.58.

SBA Communications Trading Down 0.2 %

NASDAQ:SBAC opened at $248.75 on Monday. The firm has a market capitalization of $26.73 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 0.70 and a beta of 0.67. SBA Communications has a 1-year low of $183.64 and a 1-year high of $258.76. The business’s fifty day moving average price is $232.92 and its 200 day moving average price is $212.04.

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

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were paid a dividend of $0.98 per share. The ex-dividend date was Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.58%. SBA Communications’s payout ratio is 76.86%.

Insider Activity at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was 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 in the company, valued at $24,328,521.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. 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 worth $11,483,981 in the last 90 days. 1.30% of the stock is owned by company insiders.

Institutional Trading of SBA Communications

Several institutional investors have recently modified their holdings of SBAC. Naviter Wealth LLC lifted its position in shares of SBA Communications by 8.9% during the 3rd quarter. Naviter Wealth LLC now owns 8,656 shares of the technology company’s stock worth $2,083,000 after buying an additional 711 shares during the period. Stableford Capital II LLC lifted its position in shares of SBA Communications by 32.0% during the 3rd quarter. Stableford Capital II LLC now owns 9,022 shares of the technology company’s stock worth $2,107,000 after buying an additional 2,188 shares during the period. Swedbank AB lifted its position in shares of SBA Communications by 0.5% during the 3rd quarter. Swedbank AB now owns 79,661 shares of the technology company’s stock worth $19,174,000 after buying an additional 410 shares during the period. Washington Capital Management Inc. lifted its position in shares of SBA Communications by 3.3% during the 3rd quarter. Washington Capital Management Inc. now owns 5,080 shares of the technology company’s stock worth $1,223,000 after buying an additional 160 shares during the period. Finally, Creative Planning lifted its position in shares of SBA Communications by 25.9% during the 3rd quarter. Creative Planning now owns 8,985 shares of the technology company’s stock worth $2,163,000 after buying an additional 1,850 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

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.