Brokerages Set SBA Communications Co. (NASDAQ:SBAC) Target Price at $268.00

Shares of SBA Communications Co. (NASDAQ:SBAC) have been given an average rating of “Buy” by the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $268.00.

A number of equities analysts have commented on the stock. BMO Capital Markets dropped their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Barclays dropped their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Finally, Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Thursday, March 7th.

Insider Activity at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the transaction, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by insiders.

Institutional Trading of SBA Communications

Several institutional investors and hedge funds have recently bought and sold shares of SBAC. Emerald Advisers LLC purchased a new position in shares of SBA Communications in the 3rd quarter valued at about $31,000. CVA Family Office LLC acquired a new position in SBA Communications during the fourth quarter worth $37,000. Glassman Wealth Services grew its position in shares of SBA Communications by 79.1% in the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after purchasing an additional 68 shares during the period. Pinnacle Bancorp Inc. increased its stake in shares of SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after purchasing an additional 67 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Up 2.9 %

Shares of SBAC opened at $201.89 on Friday. SBA Communications has a 12 month low of $185.23 and a 12 month high of $263.08. The business’s fifty day simple moving average is $209.91 and its two-hundred day simple moving average is $222.86. The company has a market cap of $21.83 billion, a price-to-earnings ratio of 43.79, a P/E/G ratio of 1.21 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.36). The firm had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.11 earnings per share. As a group, research analysts forecast that SBA Communications will post 12.61 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.94%. SBA Communications’s dividend payout ratio is presently 85.03%.

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.