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

Shares of SBA Communications Co. (NASDAQ:SBAC - Get Free Report) have been given an average rating of "Moderate Buy" by the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $252.38.

A number of research analysts have issued reports on SBAC shares. JMP Securities lifted their price objective on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a report on Tuesday, April 29th. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Morgan Stanley assumed 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. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Finally, Citigroup lifted their price target on shares of SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th.

Insider Buying and Selling

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction on 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 sale, the director now owns 10,522 shares of the company's stock, valued at $2,531,487.98. The trade was a 32.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SBA Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of SBAC. Assetmark Inc. boosted its stake in SBA Communications by 25.1% in the first quarter. Assetmark Inc. now owns 717 shares of the technology company's stock worth $158,000 after buying an additional 144 shares in the last quarter. Cetera Investment Advisers raised its stake in SBA Communications by 21.3% in the first quarter. Cetera Investment Advisers now owns 7,790 shares of the technology company's stock worth $1,714,000 after buying an additional 1,370 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of SBA Communications by 5.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 9,201 shares of the technology company's stock worth $2,024,000 after acquiring an additional 454 shares in the last quarter. Ninepoint Partners LP lifted its position in SBA Communications by 30.4% during the first quarter. Ninepoint Partners LP now owns 8,489 shares of the technology company's stock valued at $1,868,000 after buying an additional 1,981 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its position in SBA Communications by 7.3% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company's stock valued at $439,310,000 after acquiring an additional 135,682 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Stock Performance

Shares of SBAC stock opened at $242.83 on Wednesday. The stock has a market cap of $26.13 billion, a price-to-earnings ratio of 38.30, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications has a 52-week low of $185.44 and a 52-week high of $252.64. The firm has a fifty day moving average of $222.66 and a 200-day moving average of $216.37.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

About SBA Communications

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.

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