SBA Communications Co. (NASDAQ:SBAC) Given Consensus Rating of "Moderate Buy" by Brokerages

SBA Communications Co. (NASDAQ:SBAC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fifteen brokerages that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $253.43.

A number of equities research analysts recently issued reports on SBAC shares. Wells Fargo & Company upped their price target 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. Bank of America started coverage on shares of SBA Communications in a research note on Monday, May 19th. They set a "buy" rating and a $260.00 price target on the stock. Citigroup upped their price target on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley started 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 on the stock. Finally, Raymond James reaffirmed a "strong-buy" rating and set a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th.

Insider Transactions at SBA Communications

In other SBA Communications 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 transaction, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now owns 10,522 shares in the company, valued at $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.92% of the company's stock.

Hedge Funds Weigh In On SBA Communications

Several hedge funds and other institutional investors have recently modified their holdings of SBAC. Evermay Wealth Management LLC purchased a new position in SBA Communications during the 4th quarter worth approximately $27,000. Independence Bank of Kentucky acquired a new stake in SBA Communications in the 1st quarter valued at $28,000. Graney & King LLC acquired a new stake in SBA Communications in the 4th quarter valued at $29,000. Stone House Investment Management LLC acquired a new stake in SBA Communications in the 1st quarter valued at $33,000. Finally, Allworth Financial LP grew its stake in SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after acquiring an additional 62 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

Shares of SBA Communications stock traded up $1.27 during trading on Friday, hitting $230.75. The company's stock had a trading volume of 427,701 shares, compared to its average volume of 890,581. The company has a fifty day simple moving average of $227.47 and a two-hundred day simple moving average of $216.59. The company has a market capitalization of $24.79 billion, a PE ratio of 36.40, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications has a 52 week low of $187.06 and a 52 week high of $252.64.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's payout ratio is presently 60.91%.

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.