SBA Communications (NASDAQ:SBAC) PT Lowered to $227.00

SBA Communications (NASDAQ:SBAC) had its price objective decreased by KeyCorp from $276.00 to $227.00 in a research report released on Tuesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

SBAC has been the subject of a number of other research reports. BMO Capital Markets decreased their price target 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. Bank of America upgraded SBA Communications from a neutral rating to a buy rating and set a $260.00 price target on the stock in a research note on Thursday, March 7th. Finally, Barclays dropped their price objective on shares of SBA Communications from $260.00 to $255.00 and set an overweight rating on the stock in a research note on Wednesday, April 17th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, SBA Communications has a consensus rating of Buy and an average target price of $258.23.

SBA Communications Stock Down 0.4 %

SBA Communications stock opened at $193.09 on Tuesday. The company’s 50 day moving average is $208.78 and its two-hundred day moving average is $222.32. The firm has a market cap of $20.87 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 1.16 and a beta of 0.59. SBA Communications has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.21 by $0.21. The firm had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. SBA Communications’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.13 EPS. On average, equities research analysts anticipate that SBA Communications will post 12.61 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 2.03%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Activity

In related news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was 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 directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. raised its position in shares of SBA Communications by 0.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 43,284 shares of the technology company’s stock worth $8,664,000 after purchasing an additional 188 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of SBA Communications during the third quarter valued at $212,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in SBA Communications by 12.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 19,618 shares of the technology company’s stock worth $3,927,000 after purchasing an additional 2,100 shares in the last quarter. Xponance Inc. raised its stake in SBA Communications by 4.0% in the 3rd quarter. Xponance Inc. now owns 15,499 shares of the technology company’s stock valued at $3,102,000 after purchasing an additional 600 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in SBA Communications by 23.3% in the 3rd quarter. Raymond James & Associates now owns 90,188 shares of the technology company’s stock valued at $18,053,000 after purchasing an additional 17,048 shares in the last quarter. Institutional investors and hedge funds 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.