SBA Communications Corporation (NASDAQ:SBAC) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seventeen brokerages that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $255.31.

Several equities research analysts recently issued reports on SBAC shares. Barclays lifted their price target on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Morgan Stanley assumed coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price for the company. JMP Securities boosted their target price on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Tuesday, April 29th. Wall Street Zen lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Finally, Scotiabank began coverage on shares of SBA Communications in a report on Thursday. They issued a "sector perform" rating and a $252.00 price target for the company.

SBA Communications Stock Up 0.2%

Shares of SBAC stock traded up $0.47 during mid-day trading on Monday, reaching $234.37. The company's stock had a trading volume of 403,250 shares, compared to its average volume of 869,608. The company's 50 day simple moving average is $230.92 and its 200-day simple moving average is $220.57. SBA Communications has a 12-month low of $192.55 and a 12-month high of $252.64. The firm has a market capitalization of $25.18 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.93 and a beta of 0.78.

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 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, May 22nd. SBA Communications's dividend payout ratio is currently 60.91%.

Insider Transactions at SBA Communications

In other SBA Communications news, 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 value of $1,202,950.00. Following the completion of the sale, the director owned 10,522 shares in the company, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Independence Bank of Kentucky bought a new position in SBA Communications in the first quarter valued at approximately $28,000. Graney & King LLC bought a new position in SBA Communications in the fourth quarter valued at approximately $29,000. Stone House Investment Management LLC bought a new position in SBA Communications in the first quarter valued at approximately $33,000. Allworth Financial LP lifted its stake in SBA Communications by 62.0% in the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after buying an additional 62 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock valued at $36,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

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.