SBA Communications Co. (NASDAQ:SBAC) Receives $252.54 Average Target Price from Analysts

SBA Communications Co. (NASDAQ:SBAC) has been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $252.85.

Several research firms have weighed in on SBAC. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Barclays lifted their target price on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday. Finally, JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock.

SBA Communications Stock Up 0.3 %

Shares of NASDAQ:SBAC opened at $221.64 on Tuesday. The company’s fifty day moving average is $209.59 and its two-hundred day moving average is $220.10. The company has a market cap of $23.85 billion, a P/E ratio of 34.96, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $1.11 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.00%. SBA Communications’s dividend payout ratio (DPR) is 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 shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SBA Communications

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oak Thistle LLC boosted its stake in SBA Communications by 76.1% in the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after acquiring an additional 2,863 shares during the last quarter. Czech National Bank increased its stake in shares of SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after acquiring an additional 1,421 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of SBA Communications by 14,529.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock worth $60,495,000 after purchasing an additional 249,610 shares in the last quarter. First Hawaiian Bank grew its stake in SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after acquiring an additional 5,897 shares during the period. Finally, Bank of Montreal Can raised its holdings in SBA Communications by 135.5% during the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock worth $100,351,000 after buying an additional 241,916 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

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.