SBA Communications (NASDAQ:SBAC) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of SBA Communications (NASDAQ:SBAC) from a hold rating to a buy rating in a report issued on Friday.

Several other equities research analysts have also commented on SBAC. KeyCorp upped their price objective on SBA Communications from $227.00 to $230.00 and gave the stock an overweight rating in a research report on Tuesday, July 30th. Barclays dropped their price target on shares of SBA Communications from $240.00 to $236.00 and set an overweight rating on the stock in a research report on Tuesday, July 30th. BMO Capital Markets decreased their price objective on shares of SBA Communications from $250.00 to $245.00 and set an outperform rating for the company in a research report on Tuesday, July 30th. Wells Fargo & Company lowered shares of SBA Communications from an overweight rating to an equal weight rating and lowered their target price for the stock from $230.00 to $220.00 in a research note on Monday, July 15th. Finally, Morgan Stanley lifted their price target on SBA Communications from $232.00 to $252.00 and gave the company an overweight rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $240.00.

SBA Communications Price Performance

NASDAQ:SBAC opened at $239.47 on Friday. The firm has a market capitalization of $25.73 billion, a P/E ratio of 46.95, a PEG ratio of 0.75 and a beta of 0.67. The company’s fifty day moving average price is $224.12 and its 200-day moving average price is $209.29. SBA Communications has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last announced its quarterly 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). The company had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. SBA Communications’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.24 earnings per share. Equities analysts anticipate that SBA Communications will post 12.53 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.64%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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 of the company’s stock, valued at approximately $1,775,084.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,590 shares of company stock worth $11,483,981. 1.30% of the stock is owned by insiders.

Institutional Trading of SBA Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in SBAC. Ridgewood Investments LLC purchased a new position in SBA Communications in the second quarter worth approximately $32,000. Family Firm Inc. acquired a new stake in shares of SBA Communications during the 2nd quarter worth about $36,000. Quarry LP raised its holdings in SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after buying an additional 132 shares during the period. Global X Japan Co. Ltd. acquired a new position in SBA Communications in the second quarter valued at about $49,000. Finally, Versant Capital Management Inc boosted its stake in SBA Communications by 4,500.0% during the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after buying an additional 270 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.