SBA Communications Co. (NASDAQ:SBAC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of SBA Communications Co. (NASDAQ:SBAC) have been given an average rating of “Moderate Buy” by the fourteen analysts that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $252.85.

Several research analysts have recently commented on SBAC shares. JMP Securities assumed coverage on SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. Barclays lifted their price objective on SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company boosted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th.

SBA Communications Trading Up 0.3 %

Shares of SBAC opened at $221.64 on Tuesday. SBA Communications has a 1-year low of $183.64 and a 1-year high of $252.64. The company has a market cap of $23.85 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 0.74 and a beta of 0.74. The company’s fifty day simple moving average is $209.59 and its 200 day simple moving average is $220.10.

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 dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.00%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SBA Communications

Several institutional investors and hedge funds have recently made changes to their positions in SBAC. Evermay Wealth Management LLC bought a new stake in SBA Communications in the fourth quarter valued at approximately $27,000. Graney & King LLC bought a new stake in shares of SBA Communications in the 4th quarter valued at $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 worth $47,000 after buying an additional 144 shares during the period. CKW Financial Group bought a new position in SBA Communications during the fourth quarter worth $56,000. Finally, State of Wyoming lifted its holdings in SBA Communications by 75.8% in the fourth quarter. State of Wyoming now owns 276 shares of the technology company’s stock valued at $56,000 after buying an additional 119 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.