SBA Communications (NASDAQ:SBAC) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of SBA Communications (NASDAQ:SBAC) from a hold rating to a buy rating in a research report released on Friday.

SBAC has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. KeyCorp boosted their target price on shares of SBA Communications from $227.00 to $230.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. TD Cowen reduced their price objective on SBA Communications from $253.00 to $251.00 and set a buy rating on the stock in a report on Tuesday, July 30th. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a research report on Monday, July 1st. They issued a neutral rating and a $212.00 price target for the company. Finally, Morgan Stanley raised their price objective on SBA Communications from $232.00 to $252.00 and gave the company an overweight rating in a research report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $241.75.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $240.53 on Friday. The stock has a 50-day simple moving average of $224.73 and a two-hundred day simple moving average of $209.34. The firm has a market capitalization of $25.84 billion, a PE ratio of 47.16, a P/E/G ratio of 0.75 and a beta of 0.67. SBA Communications has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The business had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. During the same period in the prior year, the business earned $3.24 earnings per share. SBA Communications’s revenue was down 2.7% compared to the same quarter last year. Equities analysts forecast that SBA Communications will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were issued a $0.98 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.63%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Buying and Selling

In related news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The disclosure for this sale can be found here. Insiders sold a total of 51,590 shares of company stock valued at $11,483,981 over the last 90 days. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently bought and sold shares of SBAC. Oregon Public Employees Retirement Fund grew its holdings in shares of SBA Communications by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after purchasing an additional 53 shares during the period. Ballentine Partners LLC increased its holdings in shares of SBA Communications by 2.7% in the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after acquiring an additional 55 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in SBA Communications by 4.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after purchasing an additional 57 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its position in SBA Communications by 3.9% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after acquiring an additional 58 shares during the last quarter. Finally, Warwick Investment Management Inc. lifted its holdings in shares of SBA Communications by 6.1% in the 4th quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock valued at $269,000 after purchasing an additional 61 shares during the last quarter. 97.35% of the stock is currently 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.