SBA Communications (NASDAQ:SBAC) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of SBA Communications (NASDAQ:SBAC) from a buy rating to a hold rating in a research report report published on Friday morning.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Wells Fargo & Company raised their target price on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Barclays increased their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Morgan Stanley began coverage on SBA Communications in a report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price on the stock. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $251.92.

SBA Communications Stock Up 1.5 %

SBAC opened at $229.06 on Friday. SBA Communications has a 52 week low of $183.64 and a 52 week high of $252.64. The business’s 50 day moving average is $217.30 and its two-hundred day moving average is $217.15. The firm has a market cap of $24.65 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 1.94%. SBA Communications’s dividend payout ratio is currently 63.98%.

Insider Activity at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total value 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. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications during the fourth quarter valued at approximately $27,000. Independence Bank of Kentucky acquired a new stake in shares of SBA Communications during the first quarter valued at about $28,000. Graney & King LLC acquired a new stake in shares of SBA Communications during the fourth quarter valued at about $29,000. NBC Securities Inc. increased its position in shares of SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock worth $44,000 after acquiring an additional 189 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors 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.