SBA Communications (NASDAQ:SBAC) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of SBA Communications (NASDAQ:SBAC) from a buy rating to a hold rating in a research note released on Wednesday.

Several other brokerages also recently commented on SBAC. Wells Fargo & Company raised their price objective 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 began coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective on the stock. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Barclays lifted their price target on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus target price of $251.92.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $219.34 on Wednesday. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64. The stock has a market cap of $23.60 billion, a P/E ratio of 34.60, a P/E/G ratio of 0.74 and a beta of 0.74. The firm has a 50 day moving average price of $212.38 and a 200 day moving average price of $218.90.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $1.11 dividend. The ex-dividend date was Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.02%. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction dated 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 directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Several institutional investors and hedge funds have recently bought and sold shares of SBAC. Evermay Wealth Management LLC acquired a new position in shares of SBA Communications during the 4th quarter worth approximately $27,000. Graney & King LLC acquired a new position in shares of SBA Communications in the fourth quarter valued at $29,000. Oakworth Capital Inc. raised its position in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares during the period. CKW Financial Group acquired a new stake in shares of SBA Communications during the 4th quarter worth about $56,000. Finally, State of Wyoming boosted its holdings in shares of SBA Communications by 75.8% during the 4th quarter. State of Wyoming now owns 276 shares of the technology company’s stock worth $56,000 after buying an additional 119 shares during the period. 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.