SBA Communications (NASDAQ:SBAC) Upgraded to Hold at Jefferies Financial Group

Jefferies Financial Group upgraded shares of SBA Communications (NASDAQ:SBAC) to a hold rating in a research report released on Thursday,Zacks reports.

SBAC has been the subject of a number of other research reports. Truist Financial decreased their price objective on shares of SBA Communications from $248.00 to $238.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Barclays lowered their price objective on shares of SBA Communications from $208.00 to $207.00 and set an “overweight” rating for the company in a research report on Wednesday, September 30th. JPMorgan Chase & Co. dropped their target price on shares of SBA Communications from $230.00 to $220.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. BMO Capital Markets reaffirmed a “market perform” rating on shares of SBA Communications in a research report on Monday, August 24th. Finally, Morgan Stanley reduced their target price on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Monday, September 21st. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $227.20.

SBA Communications Trading Up 1.7%

NASDAQ:SBAC opened at $183.72 on Thursday. SBA Communications has a twelve month low of $156.60 and a twelve month high of $224.46. The company has a market cap of $19.49 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00. The stock has a fifty day simple moving average of $179.47 and a 200-day simple moving average of $191.34.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The firm had revenue of $715.27 million during the quarter, compared to analyst estimates of $706.01 million. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.17 earnings per share. As a group, equities research analysts predict that SBA Communications will post 11.40 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.7%. SBA Communications’s dividend payout ratio is presently 53.88%.

Insider Activity

In other news, Director George R. Krouse, Jr. sold 300 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the transaction, the director owned 8,512 shares in the company, valued at approximately $1,554,887.04. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.50% of the company’s stock.

Institutional Trading of SBA Communications

A number of hedge funds have recently added to or reduced their stakes in SBAC. V Square Quantitative Management LLC boosted its stake in shares of SBA Communications by 15.0% during the third quarter. V Square Quantitative Management LLC now owns 3,756 shares of the technology company’s stock valued at $601,000 after purchasing an additional 491 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in SBA Communications by 3.0% during the third quarter. Central Pacific Bank Trust Division now owns 3,425 shares of the technology company’s stock valued at $548,000 after buying an additional 100 shares during the period. QRG Capital Management Inc. increased its holdings in SBA Communications by 4.5% during the second quarter. QRG Capital Management Inc. now owns 3,109 shares of the technology company’s stock valued at $549,000 after buying an additional 134 shares during the period. Sequoia Financial Advisors LLC raised its stake in SBA Communications by 16.2% in the second quarter. Sequoia Financial Advisors LLC now owns 2,461 shares of the technology company’s stock worth $434,000 after buying an additional 343 shares in the last quarter. Finally, National Pension Service raised its stake in SBA Communications by 29.7% in the second quarter. National Pension Service now owns 9,999 shares of the technology company’s stock worth $1,764,000 after buying an additional 2,291 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Company Profile

SBA Communications Corporation is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftops, small-cell networks and distributed antenna systems used by wireless service providers, government agencies and other communications customers.

The company generates revenue mainly by leasing antenna space and related infrastructure to tenants, who install equipment used to provide wireless voice and data services.