Brokerages Set SBA Communications Co. (NASDAQ:SBAC) PT at $252.54

SBA Communications Co. (NASDAQ:SBAC) has earned an average rating of “Moderate Buy” from the fourteen analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $252.85.

SBAC has been the subject of a number of recent research reports. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Wells Fargo & Company raised their target price on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Barclays boosted their target price on SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was 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 in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. grew its holdings in shares of SBA Communications by 4,633.3% during the 3rd quarter. Assetmark Inc. now owns 426 shares of the technology company’s stock worth $103,000 after purchasing an additional 417 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of SBA Communications by 8.3% during the 3rd quarter. CIBC Asset Management Inc now owns 15,673 shares of the technology company’s stock worth $3,772,000 after buying an additional 1,202 shares in the last quarter. Empowered Funds LLC lifted its position in shares of SBA Communications by 346.4% during the 3rd quarter. Empowered Funds LLC now owns 7,883 shares of the technology company’s stock worth $1,897,000 after buying an additional 6,117 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of SBA Communications by 46.4% during the 3rd quarter. Natixis Advisors LLC now owns 74,835 shares of the technology company’s stock valued at $18,013,000 after purchasing an additional 23,715 shares during the last quarter. Finally, Atlanta Consulting Group Advisors LLC acquired a new stake in shares of SBA Communications during the 3rd quarter valued at $204,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $218.69 on Tuesday. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64. The company has a market cap of $23.53 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 0.74 and a beta of 0.74. The firm’s 50-day moving average is $210.06 and its 200-day moving average is $219.90.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 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.