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

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

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada lifted their target price on shares of SBA Communications from $235.00 to $245.00 and gave the stock an outperform rating in a research note on Monday, August 5th. BMO Capital Markets decreased their price objective on SBA Communications from $250.00 to $245.00 and set an outperform rating on the stock in a report on Tuesday, July 30th. Barclays lowered their price objective on SBA Communications from $240.00 to $236.00 and set an overweight rating for the company in a research report on Tuesday, July 30th. Wells Fargo & Company downgraded SBA Communications from an overweight rating to an equal weight rating and reduced their target price for the company from $230.00 to $220.00 in a research report on Monday, July 15th. Finally, TD Cowen lowered their price target on SBA Communications from $253.00 to $251.00 and set a buy rating for the company in a report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $237.92.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $242.95 on Thursday. The stock’s 50 day simple moving average is $220.11 and its 200-day simple moving average is $208.15. The stock has a market cap of $26.11 billion, a P/E ratio of 47.64, a P/E/G ratio of 0.74 and a beta of 0.67. SBA Communications has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter in the previous year, the company earned $3.24 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, research analysts expect that SBA Communications will post 12.53 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.98 per share. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.61%. SBA Communications’s dividend payout ratio is presently 76.86%.

Insider Activity at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently modified their holdings of the company. Gilbert & Cook Inc. increased its holdings in SBA Communications by 8.3% in the fourth quarter. Gilbert & Cook Inc. now owns 2,386 shares of the technology company’s stock valued at $605,000 after buying an additional 183 shares during the last quarter. Private Advisor Group LLC raised its position in shares of SBA Communications by 5.9% during the 4th quarter. Private Advisor Group LLC now owns 1,570 shares of the technology company’s stock worth $398,000 after acquiring an additional 88 shares in the last quarter. AGF Management Ltd. purchased a new stake in SBA Communications during the fourth quarter worth approximately $1,562,000. QRG Capital Management Inc. boosted its holdings in SBA Communications by 17.4% in the fourth quarter. QRG Capital Management Inc. now owns 5,434 shares of the technology company’s stock valued at $1,378,000 after purchasing an additional 806 shares in the last quarter. Finally, Quotient Wealth Partners LLC purchased a new position in SBA Communications in the fourth quarter valued at approximately $204,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Company Profile

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.