SBA Communications Co. (NASDAQ:SBAC) Receives $251.29 Consensus PT from Brokerages

SBA Communications Co. (NASDAQ:SBAC) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $253.07.

A number of equities analysts recently issued reports on SBAC shares. Wells Fargo & Company increased their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday. Barclays decreased their price objective on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday. Finally, JMP Securities started coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock.

Insider Activity

In related news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional Trading of SBA Communications

A number of hedge funds have recently made changes to their positions in SBAC. Dodge & Cox increased its stake in SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock valued at $1,497,167,000 after buying an additional 5,722,740 shares during the period. Norges Bank purchased a new position in shares of SBA Communications during the 4th quarter valued at $268,287,000. Victory Capital Management Inc. increased its stake in shares of SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in shares of SBA Communications by 23,553.0% during the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after acquiring an additional 1,122,064 shares in the last quarter. Finally, BROOKFIELD Corp ON boosted its position in SBA Communications by 27,449.9% during the fourth quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company’s stock valued at $202,016,000 after purchasing an additional 987,647 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

Shares of SBAC stock opened at $218.20 on Friday. The firm has a market capitalization of $23.46 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. SBA Communications has a 1 year low of $183.64 and a 1 year high of $252.64. The stock has a fifty day moving average of $203.52 and a two-hundred day moving average of $220.38.

SBA Communications Increases Dividend

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