KeyCorp Increases SBA Communications (NASDAQ:SBAC) Price Target to $280.00

SBA Communications (NASDAQ:SBAC) had its target price upped by KeyCorp from $230.00 to $280.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other research analysts have also issued reports on SBAC. Morgan Stanley upped their price target on shares of SBA Communications from $232.00 to $252.00 and gave the company an overweight rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. upped their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a neutral rating in a research note on Monday, September 23rd. BMO Capital Markets cut their price target on shares of SBA Communications from $250.00 to $245.00 and set an outperform rating on the stock in a research note on Tuesday, July 30th. Barclays upped their price target on shares of SBA Communications from $236.00 to $256.00 and gave the company an overweight rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a buy rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $251.58.

SBA Communications Stock Up 2.7 %

NASDAQ SBAC opened at $239.82 on Monday. The firm has a market cap of $25.77 billion, a PE ratio of 50.60, a price-to-earnings-growth ratio of 0.70 and a beta of 0.67. The company has a 50 day moving average price of $231.67 and a 200 day moving average price of $211.56. SBA Communications has a 52 week low of $183.64 and a 52 week high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). The firm had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.24 EPS. On average, equities research analysts anticipate that SBA Communications will post 12.52 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 82.70%.

Insider Buying and Selling

In related news, EVP Donald Day sold 1,500 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,590 shares of company stock valued at $11,483,981. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in SBA Communications by 10.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock valued at $127,000 after purchasing an additional 51 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in SBA Communications by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after purchasing an additional 53 shares in the last quarter. Ballentine Partners LLC lifted its holdings in SBA Communications by 2.7% during the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after purchasing an additional 55 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in SBA Communications by 4.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock valued at $286,000 after purchasing an additional 57 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its holdings in SBA Communications by 3.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after purchasing an additional 58 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

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.