SBA Communications Co. (NASDAQ:SBAC) Receives $252.38 Average PT from Brokerages

SBA Communications Co. (NASDAQ:SBAC) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $252.38.

A number of research analysts recently weighed in on SBAC shares. Citigroup raised their price target on shares of SBA Communications from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Barclays raised their target price on shares of SBA Communications from $244.00 to $247.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 29th. JMP Securities raised their target price on shares of SBA Communications from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 29th. Raymond James reissued a “strong-buy” rating and issued a $268.00 target price (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Finally, BMO Capital Markets raised their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 29th.

SBA Communications Trading Down 1.7%

Shares of SBA Communications stock opened at $225.82 on Wednesday. The firm has a market capitalization of $24.30 billion, a PE ratio of 35.62, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications has a twelve month low of $185.44 and a twelve month high of $252.64. The firm’s 50-day moving average price is $224.15 and its 200 day moving average price is $216.06.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, May 22nd. SBA Communications’s payout ratio is presently 60.91%.

Insider Activity

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications 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 sale, the vice president now owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. The trade was a 26.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the sale, the director now directly owns 10,522 shares in the company, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

Institutional Trading of SBA Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. Barclays PLC raised its position in SBA Communications by 71.0% in the third quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock valued at $158,386,000 after purchasing an additional 273,237 shares during the period. Tidal Investments LLC raised its position in SBA Communications by 8.8% in the third quarter. Tidal Investments LLC now owns 2,868 shares of the technology company’s stock valued at $690,000 after purchasing an additional 233 shares during the period. JPMorgan Chase & Co. grew its stake in shares of SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after acquiring an additional 605,872 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of SBA Communications by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 1,215 shares of the technology company’s stock worth $248,000 after acquiring an additional 226 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of SBA Communications by 49.3% in the fourth quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock worth $141,205,000 after acquiring an additional 226,878 shares in the last quarter. 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.