SBA Communications (NASDAQ:SBAC) Upgraded at StockNews.com

StockNews.com upgraded shares of SBA Communications (NASDAQ:SBAC) from a hold rating to a buy rating in a report published on Thursday morning.

SBAC has been the subject of several other reports. Barclays raised their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Morgan Stanley started coverage on SBA Communications in a report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 price target for the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Wells Fargo & Company lifted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $251.92.

SBA Communications Stock Performance

NASDAQ SBAC opened at $212.20 on Thursday. The stock has a market cap of $22.84 billion, a PE ratio of 33.47, a P/E/G ratio of 0.74 and a beta of 0.83. The firm has a 50-day moving average of $214.80 and a 200-day moving average of $217.58. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $1.11 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.09%. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

A number of hedge funds have recently made changes to their positions in SBAC. Oak Thistle LLC lifted its stake in SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after purchasing an additional 2,863 shares during the last quarter. Czech National Bank increased its holdings in shares of SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after buying an additional 1,421 shares in the last quarter. First Hawaiian Bank lifted its stake in shares of SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after acquiring an additional 5,897 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after acquiring an additional 38,725 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in SBA Communications by 49.3% during the 4th 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 during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.