SBA Communications’ (SBAC) Market Perform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reiterated their market perform rating on shares of SBA Communications (NASDAQ:SBAC) in a research report released on Wednesday, Marketbeat.com reports. They currently have a $230.00 target price on the technology company’s stock, down from their prior target price of $260.00.

A number of other research firms have also recently commented on SBAC. Raymond James lifted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. KeyCorp lifted their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Barclays raised their target price on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $254.92.

SBA Communications Stock Performance

NASDAQ SBAC opened at $203.57 on Wednesday. The company’s 50-day simple moving average is $225.67 and its two-hundred day simple moving average is $220.29. SBA Communications has a one year low of $183.64 and a one year high of $256.68. The company has a market capitalization of $21.89 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. During the same period in the previous year, the business earned $3.34 EPS. SBA Communications’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts expect that SBA Communications will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio is presently 61.83%.

Insiders Place Their Bets

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction 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 owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On SBA Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBAC. Caisse DE Depot ET Placement DU Quebec raised its stake in SBA Communications by 14,529.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock valued at $60,495,000 after purchasing an additional 249,610 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of SBA Communications by 135.5% during the third quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock worth $100,351,000 after buying an additional 241,916 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of SBA Communications by 17.2% in the second quarter. Public Sector Pension Investment Board now owns 14,912 shares of the technology company’s stock valued at $2,927,000 after buying an additional 2,186 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in SBA Communications by 384.3% during the third quarter. Daiwa Securities Group Inc. now owns 106,531 shares of the technology company’s stock worth $25,642,000 after acquiring an additional 84,536 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

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.