SBA Communications (NASDAQ:SBAC) Now Covered by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of SBA Communications (NASDAQ:SBAC) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The firm issued an equal weight rating and a $240.00 price target on the technology company’s stock.

Other research analysts also recently issued reports about the company. JMP Securities initiated coverage on SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Barclays upped their target price on SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, March 25th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $251.92.

SBA Communications Trading Up 0.2 %

NASDAQ:SBAC opened at $220.42 on Tuesday. SBA Communications has a 12 month low of $183.64 and a 12 month high of $252.64. The stock has a market capitalization of $23.72 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 0.74 and a beta of 0.74. The firm has a fifty day simple moving average of $211.96 and a two-hundred day simple moving average of $218.90.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 2.01%. SBA Communications’s dividend payout ratio (DPR) is 63.98%.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications during the 4th quarter worth $27,000. Graney & King LLC purchased a new stake in SBA Communications during the fourth quarter worth about $29,000. Oakworth Capital Inc. raised its position in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after acquiring an additional 144 shares during the period. CKW Financial Group purchased a new position in SBA Communications in the fourth quarter valued at about $56,000. Finally, State of Wyoming grew its position in shares of SBA Communications by 75.8% during the 4th 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 period. Institutional investors 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.