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

Shares of SBA Communications Co. (NASDAQ:SBAC - Get Free Report) have received an average recommendation of "Moderate Buy" from the fifteen research firms that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $253.43.

Several research analysts have weighed in on the company. BMO Capital Markets lifted their target price on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research note on Tuesday, April 29th. Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Citigroup boosted their price objective 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. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company lifted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th.

SBA Communications Trading Up 0.3%

SBAC stock traded up $0.73 on Friday, hitting $230.97. The company's stock had a trading volume of 1,256,458 shares, compared to its average volume of 893,538. The stock has a market cap of $24.82 billion, a price-to-earnings ratio of 36.43, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The firm has a 50 day moving average of $226.89 and a two-hundred day moving average of $216.45. SBA Communications has a 1 year low of $187.06 and a 1 year high of $252.64.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is 60.91%.

Insider Transactions at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the transaction, the director now directly owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction 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 completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently added to or reduced their stakes in SBAC. Farther Finance Advisors LLC lifted its holdings in shares of SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after purchasing an additional 45 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of SBA Communications by 5.6% during the 1st quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company's stock worth $194,000 after purchasing an additional 47 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock valued at $78,000 after buying an additional 50 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in SBA Communications by 2.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock valued at $495,000 after buying an additional 50 shares during the last quarter. Finally, Auxano Advisors LLC grew its holdings in SBA Communications by 2.3% during the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock valued at $495,000 after buying an additional 54 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

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.