Brokerages Set SBA Communications Co. (NASDAQ:SBAC) Price Target at $251.29

Shares of SBA Communications Co. (NASDAQ:SBAC) have received an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $252.00.

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. TD Cowen lifted their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On SBA Communications

Several hedge funds have recently bought and sold shares of SBAC. Exchange Traded Concepts LLC increased its holdings in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after purchasing an additional 50 shares during the period. Farther Finance Advisors LLC increased its stake in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares during the period. Versant Capital Management Inc lifted its position in SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after buying an additional 53 shares in the last quarter. Auxano Advisors LLC lifted its position in SBA Communications by 2.3% in the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after buying an additional 54 shares in the last quarter. Finally, DoubleLine ETF Adviser LP boosted its stake in shares of SBA Communications by 0.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company’s stock valued at $1,577,000 after buying an additional 57 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of SBAC opened at $219.17 on Friday. SBA Communications has a 12 month low of $183.64 and a 12 month high of $252.64. The stock has a fifty day moving average price of $202.83 and a 200 day moving average price of $220.43. The company has a market cap of $23.57 billion, a P/E ratio of 34.57, a PEG ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

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.