SBA Communications Corporation (NASDAQ:SBAC) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six 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 target price among brokers that have updated their coverage on the stock in the last year is $253.43.

Several equities research analysts have recently commented on SBAC shares. Citigroup boosted their price target on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Raymond James Financial reiterated a "strong-buy" rating and set a $268.00 price objective (up previously from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Bank of America initiated coverage on shares of SBA Communications in a research note on Monday, May 19th. They set a "buy" rating and a $260.00 price objective for the company. Finally, Morgan Stanley began 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 objective for the company.

SBA Communications Stock Performance

SBA Communications stock traded down $1.98 during trading hours on Thursday, hitting $230.70. The company had a trading volume of 700,082 shares, compared to its average volume of 885,594. The firm has a market cap of $24.79 billion, a P/E ratio of 31.65, a P/E/G ratio of 1.96 and a beta of 0.78. SBA Communications has a 1 year low of $187.06 and a 1 year high of $252.64. The company has a 50-day moving average price of $230.99 and a two-hundred day moving average price of $217.31.

SBA Communications Announces Dividend

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

Insider Buying and Selling

In related news, Director Jack Langer sold 5,000 shares of the 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 directly owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.92% of the stock is currently owned by insiders.

Institutional Trading of SBA Communications

A number of hedge funds have recently added to or reduced their stakes in SBAC. AG2R LA Mondiale Gestion D Actifs acquired a new position in SBA Communications during the first quarter worth $1,380,000. BROOKFIELD Corp ON raised its position in SBA Communications by 1.8% during the first quarter. BROOKFIELD Corp ON now owns 1,008,947 shares of the technology company's stock worth $221,978,000 after acquiring an additional 17,702 shares during the period. First Hawaiian Bank raised its position in SBA Communications by 7.9% during the first quarter. First Hawaiian Bank now owns 13,354 shares of the technology company's stock worth $2,938,000 after acquiring an additional 977 shares during the period. Geneos Wealth Management Inc. raised its position in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock worth $36,000 after acquiring an additional 84 shares during the period. Finally, Focus Partners Wealth raised its position in SBA Communications by 9.0% during the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company's stock worth $712,000 after acquiring an additional 266 shares during the period. 97.35% of the stock is 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.