Barclays Issues Positive Forecast for SBA Communications (NASDAQ:SBAC) Stock Price

SBA Communications (NASDAQ:SBAC) had its target price increased by Barclays from $240.00 to $244.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

SBAC has been the topic of several other reports. JMP Securities initiated coverage on shares of SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective on the stock. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Wells Fargo & Company increased their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.85.

SBA Communications Trading Up 0.3 %

Shares of SBA Communications stock opened at $221.64 on Friday. The stock has a market capitalization of $23.85 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications has a 1-year low of $183.64 and a 1-year high of $252.64. The firm’s 50-day moving average price is $209.59 and its two-hundred day moving average price is $220.17.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio is currently 63.98%.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction 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 directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Hedge funds have recently bought and sold shares of the company. Evermay Wealth Management LLC acquired a new stake in SBA Communications in the fourth quarter worth $27,000. Graney & King LLC acquired a new stake in SBA Communications in the fourth quarter worth $29,000. Oakworth Capital Inc. raised its holdings in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares during the period. CKW Financial Group acquired a new stake in SBA Communications in the fourth quarter worth $56,000. Finally, State of Wyoming raised its holdings in SBA Communications by 75.8% in the fourth quarter. State of Wyoming now owns 276 shares of the technology company’s stock worth $56,000 after purchasing an additional 119 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.