SBA Communications (NASDAQ:SBAC) Lifted to Buy at StockNews.com

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

Several other equities analysts have also issued reports on SBAC. KeyCorp decreased their price target 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. TD Cowen reduced their price objective on SBA Communications from $266.00 to $253.00 and set a buy rating on the stock in a research report on Tuesday, April 30th. Royal Bank of Canada reduced their price objective on SBA Communications from $250.00 to $235.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. Barclays reduced their price objective on SBA Communications from $255.00 to $241.00 and set an overweight rating on the stock in a research report on Tuesday, April 30th. Finally, BMO Capital Markets reduced their price objective on SBA Communications from $285.00 to $265.00 and set an outperform rating on the stock in a research report on Tuesday, February 27th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $252.25.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $188.09 on Thursday. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The business has a fifty day moving average price of $203.13 and a two-hundred day moving average price of $221.51. The stock has a market capitalization of $20.21 billion, a PE ratio of 36.88, a P/E/G ratio of 0.60 and a beta of 0.59.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The company had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. During the same quarter last year, the company posted $3.13 EPS. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities analysts expect that SBA Communications will post 12.53 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

Insider Buying and Selling

In related news, Director Mary S. Chan sold 1,977 shares of the company’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 transaction of $430,966.23. Following 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 SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Institutional Trading of SBA Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBAC. CVA Family Office LLC bought a new stake in SBA Communications during the 4th quarter worth approximately $37,000. Glassman Wealth Services increased its holdings in SBA Communications by 79.1% during the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after purchasing an additional 68 shares in the last quarter. Pinnacle Bancorp Inc. increased its holdings in SBA Communications by 73.6% during the 4th 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. Allworth Financial LP grew its holdings in shares of SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after acquiring an additional 45 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after acquiring an additional 132 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

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.