SBA Communications (NASDAQ:SBAC) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of SBA Communications (NASDAQ:SBAC) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Several other research firms have also issued reports on SBAC. The Goldman Sachs Group upped their price objective on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Barclays increased their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Raymond James upped their price target on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Stock Up 0.1 %

Shares of SBA Communications stock opened at $231.88 on Wednesday. SBA Communications has a 12-month low of $183.64 and a 12-month high of $258.76. The business’s 50 day moving average is $237.77 and its 200-day moving average is $214.16. The stock has a market cap of $24.92 billion, a P/E ratio of 48.92, a P/E/G ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.34 EPS. On average, sell-side analysts expect that SBA Communications will post 12.52 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is currently 82.70%.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SBA Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC bought a new stake in SBA Communications during the second quarter worth $32,000. Family Firm Inc. bought a new position in shares of SBA Communications in the 2nd quarter valued at $36,000. Friedenthal Financial bought a new position in shares of SBA Communications in the 3rd quarter valued at $50,000. Farther Finance Advisors LLC lifted its stake 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 valued at $52,000 after acquiring an additional 53 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of SBA Communications in the 3rd quarter valued at $58,000. 97.35% of the stock is currently owned by institutional investors.

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.