Analysts Set SBA Communications Co. (NASDAQ:SBAC) Target Price at $268.38

SBA Communications Co. (NASDAQ:SBAC) has received an average rating of “Buy” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $268.38.

SBAC has been the subject of several research reports. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research note on Thursday, March 7th. BMO Capital Markets reduced their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Finally, Barclays reduced their target price on shares of SBA Communications from $265.00 to $260.00 and set an “overweight” rating for the company in a research note on Tuesday, March 5th.

SBA Communications Stock Performance

NASDAQ SBAC opened at $213.79 on Tuesday. The firm has a 50-day simple moving average of $215.77 and a 200 day simple moving average of $222.39. SBA Communications has a twelve month low of $185.23 and a twelve month high of $267.42. The stock has a market cap of $23.11 billion, a PE ratio of 46.38, a PEG ratio of 1.30 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. During the same quarter in the previous year, the business posted $3.11 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts forecast that SBA Communications will post 12.59 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.98 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 annualized dividend and a dividend yield of 1.83%. SBA Communications’s dividend payout ratio (DPR) is presently 85.03%.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Institutional Trading of SBA Communications

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Kapitalo Investimentos Ltda acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $134,000. Nomura Holdings Inc. acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $7,422,000. PNC Financial Services Group Inc. increased its holdings in shares of SBA Communications by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 18,060 shares of the technology company’s stock valued at $4,582,000 after purchasing an additional 76 shares in the last quarter. Leo Wealth LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $10,922,000. Finally, Wellington Management Group LLP increased its holdings in shares of SBA Communications by 596.2% in the fourth quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after purchasing an additional 192,791 shares in 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.