SBA Communications (NASDAQ:SBAC) Price Target Cut to $255.00 by Analysts at Barclays

SBA Communications (NASDAQ:SBAC) had its price objective trimmed by Barclays from $260.00 to $255.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

SBAC has been the subject of several other research reports. BMO Capital Markets dropped their price target on shares of SBA Communications from $285.00 to $265.00 and set an outperform rating for the company in a research report on Tuesday, February 27th. Bank of America raised shares of SBA Communications from a neutral rating to a buy rating and set a $260.00 price target for the company in a research report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $268.00.

SBA Communications Stock Performance

Shares of SBAC opened at $196.22 on Wednesday. The company has a market capitalization of $21.21 billion, a price-to-earnings ratio of 42.56, a PEG ratio of 1.19 and a beta of 0.56. The company’s 50 day simple moving average is $212.12 and its 200 day simple moving average is $222.50. SBA Communications has a 1 year low of $185.23 and a 1 year high of $266.77.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) 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 firm had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. During the same period in the previous year, the company posted $3.11 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts expect that SBA Communications will post 12.6 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. 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. SBA Communications’s dividend payout ratio (DPR) is presently 85.03%.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction 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 directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Carolinas Wealth Consulting LLC boosted its stake in SBA Communications by 248.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after acquiring an additional 62 shares during the last quarter. Emerald Advisers LLC bought a new position in SBA Communications during the 3rd quarter valued at $31,000. Resurgent Financial Advisors LLC bought a new position in SBA Communications during the 4th quarter valued at $31,000. CVA Family Office LLC bought a new position in SBA Communications during the 4th quarter valued at $37,000. Finally, Ancora Advisors LLC boosted its stake in SBA Communications by 88.6% during the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after acquiring an additional 62 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

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.