SBA Communications Co. (NASDAQ:SBAC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of SBA Communications Co. (NASDAQ:SBAC) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $252.85.

Several research firms have issued reports on SBAC. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company upped their price target on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. JMP Securities assumed coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, 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, February 24th.

Insider Buying and Selling at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now owns 6,079 shares of the company’s stock, 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 document filed with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Evermay Wealth Management LLC purchased a new position in SBA Communications during the fourth quarter worth about $27,000. Graney & King LLC purchased a new stake in SBA Communications in the fourth quarter worth approximately $29,000. Oakworth Capital Inc. grew its position in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the last quarter. CKW Financial Group purchased a new position in shares of SBA Communications during the fourth quarter worth approximately $56,000. Finally, State of Wyoming lifted its holdings in shares of SBA Communications by 75.8% in the 4th quarter. State of Wyoming now owns 276 shares of the technology company’s stock worth $56,000 after acquiring an additional 119 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Down 1.3 %

Shares of NASDAQ:SBAC opened at $218.69 on Tuesday. The business has a fifty day simple moving average of $210.06 and a 200 day simple moving average of $219.90. SBA Communications has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a market cap of $23.53 billion, a P/E ratio of 34.49, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.03%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio is 63.98%.

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.