Brokerages Set SBA Communications Co. (NASDAQ:SBAC) Price Target at $251.92

Shares of SBA Communications Co. (NASDAQ:SBAC) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $251.92.

A number of equities research analysts have commented on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Morgan Stanley initiated coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 price target for the company. JMP Securities initiated coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. 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 report on Wednesday, February 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th.

Insider Transactions at SBA Communications

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 stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

A number of hedge funds and other institutional investors have recently modified their holdings of SBAC. MML Investors Services LLC lifted its position in shares of SBA Communications by 5.3% during the third quarter. MML Investors Services LLC now owns 8,028 shares of the technology company’s stock worth $1,932,000 after purchasing an additional 407 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in SBA Communications by 4.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 31,011 shares of the technology company’s stock valued at $7,464,000 after buying an additional 1,343 shares in the last quarter. Barclays PLC lifted its position in shares of SBA Communications by 71.0% during the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock valued at $158,386,000 after acquiring an additional 273,237 shares during the last quarter. M&T Bank Corp increased its stake in SBA Communications by 11.1% in the 3rd quarter. M&T Bank Corp now owns 4,440 shares of the technology company’s stock worth $1,069,000 after purchasing an additional 444 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in SBA Communications during the third quarter valued at about $266,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Up 2.5 %

Shares of NASDAQ SBAC opened at $224.73 on Friday. The firm has a market cap of $24.18 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 0.74 and a beta of 0.83. The business’s 50 day moving average is $215.66 and its two-hundred day moving average is $217.21. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is 63.98%.

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.