SBA Communications (NASDAQ:SBAC) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of SBA Communications (NASDAQ:SBAC) in a research report report published on Tuesday, MarketBeat reports. The brokerage issued an equal weight rating and a $240.00 target price on the technology company’s stock.

Other research analysts have also recently issued reports about the company. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. JMP Securities assumed coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Finally, Wells Fargo & Company increased their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $251.92.

SBA Communications Stock Up 5.3 %

NASDAQ:SBAC opened at $230.87 on Tuesday. SBA Communications has a 52 week low of $183.64 and a 52 week high of $252.64. The company has a fifty day simple moving average of $213.02 and a two-hundred day simple moving average of $218.98. The company has a market cap of $24.85 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is currently 63.98%.

Insider Transactions at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Several institutional investors and hedge funds have recently bought and sold shares of SBAC. Evermay Wealth Management LLC acquired a new position in SBA Communications in the fourth quarter valued at $27,000. Graney & King LLC purchased a new position in shares of SBA Communications during the fourth quarter worth about $29,000. Oakworth Capital Inc. increased its position in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the period. CKW Financial Group purchased a new stake in SBA Communications during the 4th quarter valued at approximately $56,000. Finally, State of Wyoming lifted its position in SBA Communications by 75.8% during the 4th quarter. State of Wyoming now owns 276 shares of the technology company’s stock worth $56,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors 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.