SBA Communications (NASDAQ:SBAC) Price Target Lowered to $210.00 at Wells Fargo & Company

SBA Communications (NASDAQ:SBAC) had its price objective decreased by Wells Fargo & Company from $230.00 to $210.00 in a report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on SBAC. The Goldman Sachs Group upped their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. KeyCorp boosted their target price on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Barclays dropped their price target on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $252.46.

SBA Communications Trading Up 0.1 %

Shares of NASDAQ SBAC opened at $198.69 on Thursday. The stock has a 50-day moving average price of $210.26 and a two-hundred day moving average price of $221.61. SBA Communications has a 12 month low of $183.64 and a 12 month high of $252.64. The company has a market cap of $21.36 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 0.70 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 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 the consensus estimate of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. SBA Communications’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.34 EPS. On average, sell-side analysts predict that SBA Communications will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.98 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.97%. SBA Communications’s payout ratio is currently 61.83%.

Insider Activity

In other news, EVP Donald Day sold 2,321 shares of SBA Communications 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 in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the 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 transaction, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after acquiring an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after purchasing an additional 700,791 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after buying an additional 605,872 shares during the last quarter. Long Pond Capital LP bought a new position in shares of SBA Communications in the second quarter valued at $83,687,000. Finally, AQR Capital Management LLC grew its holdings in shares of SBA Communications by 500.0% during the second quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock valued at $72,375,000 after buying an additional 307,530 shares during the last quarter. 97.35% of the stock is 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.