Scotiabank assumed coverage on shares of SBA Communications (NASDAQ:SBAC - Free Report) in a report released on Thursday, MarketBeat Ratings reports. The firm issued a sector perform rating and a $252.00 price objective on the technology company's stock.
A number of other equities research analysts have also commented on SBAC. Raymond James Financial reiterated a "strong-buy" rating and issued a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. BMO Capital Markets upped their price target on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday, April 29th. JMP Securities upped their price target on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research report on Tuesday, April 29th. Morgan Stanley assumed coverage on SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price target on the stock. Finally, Citigroup upped their price target on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, SBA Communications has an average rating of "Moderate Buy" and an average target price of $255.31.
View Our Latest Report on SBAC
SBA Communications Price Performance
SBAC stock traded up $1.04 during midday trading on Thursday, reaching $233.90. 395,556 shares of the stock were exchanged, compared to its average volume of 870,797. The stock has a market capitalization of $25.13 billion, a PE ratio of 32.09, a P/E/G ratio of 1.93 and a beta of 0.78. SBA Communications has a 52 week low of $192.55 and a 52 week high of $252.64. The company has a fifty day moving average price of $231.04 and a 200 day moving average price of $220.11.
SBA Communications Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd were paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is currently 60.91%.
Insiders Place Their Bets
In related news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.92% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in SBAC. Vanguard Group Inc. raised its stake in shares of SBA Communications by 1.5% in the first quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company's stock worth $3,886,844,000 after purchasing an additional 268,018 shares during the last quarter. Dodge & Cox raised its stake in shares of SBA Communications by 15.5% in the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock worth $1,866,843,000 after purchasing an additional 1,139,009 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of SBA Communications by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock worth $1,314,265,000 after purchasing an additional 1,715,541 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of SBA Communications by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company's stock worth $586,827,000 after purchasing an additional 71,023 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of SBA Communications by 5.9% in the fourth quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company's stock worth $491,549,000 after purchasing an additional 134,624 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.
SBA Communications Company Profile
(
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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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