SBA Communications (NASDAQ:SBAC) Price Target Raised to $260.00

SBA Communications (NASDAQ:SBAC) had its price target raised by BMO Capital Markets from $255.00 to $260.00 in a research report report published on Tuesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the technology company’s stock.

SBAC has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Barclays lifted their target price on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley lifted their price target on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $225.59 on Tuesday. SBA Communications has a one year low of $183.64 and a one year high of $258.76. The stock’s fifty day moving average is $237.96 and its 200 day moving average is $214.45. The stock has a market cap of $24.24 billion, a P/E ratio of 35.58, a P/E/G ratio of 0.70 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. SBA Communications’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.34 earnings per share. Analysts predict that SBA Communications will post 12.52 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Insider Transactions at SBA Communications

In other news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in shares of SBA Communications by 191.3% during the 1st quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock worth $5,597,000 after purchasing an additional 16,962 shares during the period. FORA Capital LLC acquired a new position in SBA Communications in the first quarter valued at $4,872,000. Virtu Financial LLC acquired a new position in SBA Communications in the first quarter valued at $1,764,000. Easterly Investment Partners LLC acquired a new position in SBA Communications in the first quarter valued at $1,412,000. Finally, Centersquare Investment Management LLC increased its stake in SBA Communications by 1.9% in the first quarter. Centersquare Investment Management LLC now owns 168,379 shares of the technology company’s stock valued at $36,488,000 after purchasing an additional 3,087 shares during the period. Institutional investors and hedge funds 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.