SBA Communications’ (SBAC) “Market Perform” Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of SBA Communications (NASDAQ:SBAC) in a research report released on Wednesday morning, MarketBeat reports. The firm currently has a $230.00 price objective on the technology company’s stock, down from their previous price objective of $260.00.

A number of other equities analysts have also issued reports on the stock. TD Cowen raised their target price on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group upped their target price on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Barclays boosted their price target on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Raymond James increased their price objective on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley boosted their target price on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.92.

SBA Communications Stock Down 3.8 %

Shares of SBAC opened at $201.06 on Wednesday. The company has a market capitalization of $21.62 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67. SBA Communications has a 52-week low of $183.64 and a 52-week high of $256.68. The stock has a 50 day moving average price of $226.97 and a 200 day moving average price of $220.39.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.34 EPS. On average, equities analysts anticipate that SBA Communications will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Insiders Place Their Bets

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its holdings in SBA Communications by 1.8% during the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after acquiring an additional 81,566 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of SBA Communications by 13.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after purchasing an additional 233,179 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in SBA Communications by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock valued at $305,637,000 after buying an additional 62,555 shares in the last quarter. Victory Capital Management Inc. grew its holdings in SBA Communications by 2,821.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after buying an additional 1,174,469 shares during the last quarter. Finally, American Century Companies Inc. increased its position in SBA Communications by 15.5% during the second quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock worth $233,654,000 after buying an additional 159,433 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.