JPMorgan Chase & Co. Boosts SBA Communications (NASDAQ:SBAC) Price Target to $250.00

SBA Communications (NASDAQ:SBAC) had its price target increased by JPMorgan Chase & Co. from $228.00 to $250.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the stock. KeyCorp upped their price target on shares of SBA Communications from $227.00 to $230.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. StockNews.com upgraded shares of SBA Communications from a hold rating to a buy rating in a research note on Friday, September 20th. TD Cowen dropped their price target on shares of SBA Communications from $253.00 to $251.00 and set a buy rating on the stock in a research note on Tuesday, July 30th. Finally, Morgan Stanley upped their price target on shares of SBA Communications from $232.00 to $252.00 and gave the stock an overweight rating in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, SBA Communications currently has a consensus rating of Moderate Buy and an average target price of $241.75.

SBA Communications Trading Down 1.1 %

Shares of SBA Communications stock opened at $239.33 on Monday. The company’s fifty day simple moving average is $225.31 and its two-hundred day simple moving average is $209.47. The company has a market cap of $25.71 billion, a P/E ratio of 46.93, a PEG ratio of 0.73 and a beta of 0.67. SBA Communications has a 12-month low of $183.64 and a 12-month high of $258.76.

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

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s payout ratio is presently 76.86%.

Insider Activity

In related news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. The disclosure for this sale can be found here. Insiders have sold a total of 51,590 shares of company stock valued at $11,483,981 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SBA Communications

Several institutional investors and hedge funds have recently modified their holdings of SBAC. Gilbert & Cook Inc. raised its position in shares of SBA Communications by 8.3% during the fourth quarter. Gilbert & Cook Inc. now owns 2,386 shares of the technology company’s stock valued at $605,000 after buying an additional 183 shares during the last quarter. Corient Private Wealth LLC increased its position in SBA Communications by 11.7% in the fourth quarter. Corient Private Wealth LLC now owns 13,330 shares of the technology company’s stock worth $3,382,000 after purchasing an additional 1,391 shares during the last quarter. Commerce Bank increased its position in SBA Communications by 4.5% in the fourth quarter. Commerce Bank now owns 2,405 shares of the technology company’s stock worth $610,000 after purchasing an additional 103 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in SBA Communications by 1.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 10,260 shares of the technology company’s stock worth $2,549,000 after purchasing an additional 148 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in SBA Communications by 6.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 28,310 shares of the technology company’s stock worth $7,182,000 after purchasing an additional 1,667 shares during the last quarter. Institutional investors 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.