SBA Communications (NASDAQ:SBAC) PT Lowered to $236.00

SBA Communications (NASDAQ:SBAC) had its price objective decreased by Barclays from $240.00 to $236.00 in a research note published on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on SBAC. The Goldman Sachs Group began coverage on SBA Communications in a research note on Monday, July 1st. They set a neutral rating and a $212.00 target price on the stock. TD Cowen lowered their target price on SBA Communications from $266.00 to $253.00 and set a buy rating on the stock in a research note on Tuesday, April 30th. Royal Bank of Canada lowered their target price on SBA Communications from $250.00 to $235.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. StockNews.com upgraded SBA Communications from a hold rating to a buy rating in a research note on Friday, July 26th. Finally, KeyCorp lowered their price objective on SBA Communications from $276.00 to $227.00 and set an overweight rating on the stock in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, SBA Communications currently has a consensus rating of Moderate Buy and a consensus target price of $240.83.

SBA Communications Trading Up 1.1 %

Shares of NASDAQ:SBAC opened at $229.73 on Tuesday. The stock’s fifty day simple moving average is $200.44 and its two-hundred day simple moving average is $206.91. SBA Communications has a 1-year low of $183.64 and a 1-year high of $258.76. The stock has a market cap of $24.68 billion, a PE ratio of 45.05, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. During the same quarter last year, the business posted $3.24 earnings per share. SBA Communications’s revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts forecast that SBA Communications will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s payout ratio is presently 76.86%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the transaction, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. TD Asset Management Inc grew its holdings in shares of SBA Communications by 1.8% during the second quarter. TD Asset Management Inc now owns 47,143 shares of the technology company’s stock worth $9,254,000 after purchasing an additional 838 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of SBA Communications by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after purchasing an additional 53 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in shares of SBA Communications during the second quarter worth about $342,000. United Asset Strategies Inc. grew its holdings in shares of SBA Communications by 12.9% during the second quarter. United Asset Strategies Inc. now owns 2,383 shares of the technology company’s stock worth $468,000 after purchasing an additional 273 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of SBA Communications by 8.4% during the second quarter. Natixis Advisors LLC now owns 51,120 shares of the technology company’s stock worth $10,035,000 after purchasing an additional 3,946 shares in the last quarter. Hedge funds and other 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.