Barclays Lowers SBA Communications (NASDAQ:SBAC) Price Target to $254.00

SBA Communications (NASDAQ:SBAC) had its target price trimmed by Barclays from $257.00 to $254.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other equities research analysts have also issued reports on the stock. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. TD Cowen increased their price target on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. KeyCorp boosted their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their target price on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group boosted their price target on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.77.

SBA Communications Trading Up 1.1 %

Shares of NASDAQ:SBAC opened at $197.23 on Monday. SBA Communications has a 12-month low of $183.64 and a 12-month high of $252.64. The business has a 50 day moving average of $212.49 and a two-hundred day moving average of $221.36. The company has a market capitalization of $21.21 billion, a PE ratio of 31.11, a PEG ratio of 0.68 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The firm had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. During the same period last year, the firm earned $3.34 earnings per share. SBA Communications’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts predict that SBA Communications will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were paid a dividend of $0.98 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.99%. SBA Communications’s dividend payout ratio is presently 61.83%.

Insiders Place Their Bets

In related news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction that occurred 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 transaction, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors have recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of SBA Communications by 14,529.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock valued at $60,495,000 after buying an additional 249,610 shares during the period. Bank of Montreal Can lifted its holdings in SBA Communications by 135.5% in the third quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after acquiring an additional 241,916 shares during the last quarter. First Hawaiian Bank grew its position in SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after acquiring an additional 5,897 shares during the period. Public Sector Pension Investment Board increased its stake in SBA Communications by 17.2% during the second quarter. Public Sector Pension Investment Board now owns 14,912 shares of the technology company’s stock worth $2,927,000 after acquiring an additional 2,186 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

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.