SBA Communications Co. (NASDAQ:SBAC) Given Average Rating of “Moderate Buy” by Analysts

Shares of SBA Communications Co. (NASDAQ:SBACGet Free Report) have received an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $252.54.

Several brokerages have recently issued reports on SBAC. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Wells Fargo & Company lifted their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Barclays decreased their target price on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, JMP Securities initiated coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target for the company.

Check Out Our Latest Research Report on SBAC

Insider Transactions at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares of the company’s stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors have recently bought and sold shares of the company. Evermay Wealth Management LLC acquired a new stake in shares of SBA Communications during the fourth quarter valued at about $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications during the fourth quarter valued at about $29,000. Oakworth Capital Inc. increased its position in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the last quarter. CKW Financial Group acquired a new stake in shares of SBA Communications during the fourth quarter valued at about $56,000. Finally, State of Wyoming increased its position in shares of SBA Communications by 75.8% during the fourth quarter. State of Wyoming now owns 276 shares of the technology company’s stock valued at $56,000 after acquiring an additional 119 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

SBA Communications stock opened at $220.90 on Tuesday. The company’s fifty day moving average price is $207.64 and its 200 day moving average price is $220.23. The stock has a market capitalization of $23.77 billion, a P/E ratio of 34.84, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications has a 1 year low of $183.64 and a 1 year high of $252.64.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

About SBA Communications

(Get Free Report

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.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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