SBA Communications (NASDAQ:SBAC) PT Lowered to $253.00

SBA Communications (NASDAQ:SBAC) had its target price lowered by TD Cowen from $266.00 to $253.00 in a report published on Tuesday morning, Benzinga reports. TD Cowen currently has a buy rating on the technology company’s stock.

SBAC has been the subject of a number of other reports. BMO Capital Markets reduced their price target on shares of SBA Communications from $285.00 to $265.00 and set an outperform rating for the company in a report on Tuesday, February 27th. Barclays reduced their target price on SBA Communications from $255.00 to $241.00 and set an overweight rating for the company in a research note on Tuesday. KeyCorp dropped their price target on SBA Communications from $276.00 to $227.00 and set an overweight rating on the stock in a research note on Tuesday. Finally, Bank of America raised SBA Communications from a neutral rating to a buy rating and set a $260.00 price objective for the company in a research note on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $258.23.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $193.09 on Tuesday. SBA Communications has a 1 year low of $183.64 and a 1 year high of $258.76. The business’s 50-day moving average is $208.78 and its 200-day moving average is $222.32. The company has a market capitalization of $20.87 billion, a price-to-earnings ratio of 37.86, a P/E/G ratio of 1.20 and a beta of 0.59.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.21. The firm had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.13 earnings per share. Analysts anticipate that SBA Communications will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be paid a $0.98 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a yield of 2.03%. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Insiders Place Their Bets

In related news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was 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 $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

A number of large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its position in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after acquiring an additional 45 shares during the period. Quaero Capital S.A. grew its holdings in SBA Communications by 1.4% during the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock valued at $946,000 after purchasing an additional 50 shares during the period. Marks Group Wealth Management Inc increased its position in SBA Communications by 4.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock worth $323,000 after buying an additional 54 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of SBA Communications by 2.7% in the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after buying an additional 55 shares during the period. Finally, Warwick Investment Management Inc. lifted its position in shares of SBA Communications by 6.1% during the 4th quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock valued at $269,000 after buying an additional 61 shares during 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.