SBA Communications (NASDAQ:SBAC) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of SBA Communications (NASDAQ:SBAC) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

SBAC has been the subject of several other reports. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Wells Fargo & Company boosted their target price on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Barclays raised their price target on SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, JMP Securities assumed coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.85.

SBA Communications Stock Performance

SBAC stock opened at $214.31 on Tuesday. The company has a market capitalization of $23.06 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications has a one year low of $183.64 and a one year high of $252.64. The company’s 50 day moving average price is $210.45 and its two-hundred day moving average price is $219.73.

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 dividend of $1.11 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.07%. SBA Communications’s dividend payout ratio is 63.98%.

Insider Buying and Selling

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SBA Communications

A number of institutional investors have recently made changes to their positions in the company. Evermay Wealth Management LLC purchased a new stake in SBA Communications during the 4th quarter valued at $27,000. Graney & King LLC bought a new stake in shares of SBA Communications in the fourth quarter worth $29,000. Oakworth Capital Inc. increased its position in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the last quarter. CKW Financial Group bought a new position in SBA Communications in the fourth quarter valued at about $56,000. Finally, State of Wyoming boosted its position in SBA Communications by 75.8% in the fourth quarter. State of Wyoming now owns 276 shares of the technology company’s stock worth $56,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

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.