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

SBA Communications Co. (NASDAQ:SBAC) has been given an average rating of “Moderate Buy” by the fifteen analysts that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $252.00.

A number of analysts have recently weighed in on SBAC shares. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Wells Fargo & Company decreased their price target on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research report on Monday. Raymond James boosted their price objective on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, TD Cowen raised their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th.

SBA Communications Stock Performance

Shares of SBAC stock opened at $219.17 on Friday. The company has a market capitalization of $23.57 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 0.74 and a beta of 0.69. The stock’s 50 day simple moving average is $202.83 and its 200 day simple moving average is $220.43. SBA Communications has a twelve month low of $183.64 and a twelve month high of $252.64.

SBA Communications Increases Dividend

The firm 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 $1.11 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.03%. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Activity

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the business’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 sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction on Friday, December 20th. The shares were 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 trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SBA Communications

A number of hedge funds have recently made changes to their positions in SBAC. Dodge & Cox grew its stake in SBA Communications by 352.5% during the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock worth $1,497,167,000 after buying an additional 5,722,740 shares during the last quarter. State Street Corp boosted its holdings in shares of SBA Communications by 1.8% in the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after acquiring an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. grew its position in SBA Communications by 16.6% during the 3rd 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 during the last quarter. Geode Capital Management LLC increased its holdings in SBA Communications by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company’s stock valued at $586,827,000 after purchasing an additional 71,023 shares in the last quarter. Finally, Deutsche Bank AG raised its position in SBA Communications by 5.9% in the 4th quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company’s stock valued at $491,549,000 after purchasing an additional 134,624 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

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.