Analysts Set SBA Communications Co. (NASDAQ:SBAC) PT at $252.54

Shares of SBA Communications Co. (NASDAQ:SBAC) have earned an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $252.54.

Several brokerages have weighed in on SBAC. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities started coverage on shares of SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock. Barclays reduced their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Finally, Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th.

SBA Communications Trading Up 0.5 %

SBAC opened at $220.97 on Tuesday. The business’s 50 day moving average is $209.01 and its 200-day moving average is $220.21. The stock has a market cap of $23.78 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications has a twelve month low of $183.64 and a twelve month high of $252.64.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.01%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s payout ratio is presently 63.98%.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Several institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in SBA Communications by 0.9% during the fourth quarter. California State Teachers Retirement System now owns 174,818 shares of the technology company’s stock valued at $35,628,000 after purchasing an additional 1,505 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of SBA Communications during the 4th quarter worth about $7,452,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of SBA Communications during the 4th quarter valued at about $10,762,000. Integrated Advisors Network LLC grew its stake in shares of SBA Communications by 7.8% in the 4th quarter. Integrated Advisors Network LLC now owns 2,775 shares of the technology company’s stock valued at $566,000 after buying an additional 200 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in SBA Communications by 6.7% in the fourth quarter. Toronto Dominion Bank now owns 68,763 shares of the technology company’s stock worth $14,014,000 after buying an additional 4,330 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

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.