SBA Communications (NASDAQ:SBAC) Downgraded to Hold Rating by StockNews.com

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

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

SBA Communications Stock Up 1.5 %

Shares of SBAC stock opened at $229.06 on Friday. The stock has a market cap of $24.65 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64. The business has a 50-day simple moving average of $217.30 and a 200-day simple moving average of $217.15.

SBA Communications Increases Dividend

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

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now directly owns 6,079 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Hedge funds have recently bought and sold shares of the stock. Oak Thistle LLC increased its stake in shares of SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after buying an additional 2,863 shares during the period. Czech National Bank grew its holdings in SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after acquiring an additional 1,421 shares in the last quarter. First Hawaiian Bank increased its position in shares of SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after purchasing an additional 5,897 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after purchasing an additional 38,725 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of SBA Communications by 49.3% during the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock worth $141,205,000 after purchasing an additional 226,878 shares during the last quarter. Institutional investors and hedge funds 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.