SBA Communications (NASDAQ:SBAC) Upgraded 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 Tuesday.

A number of other equities analysts have also recently commented on SBAC. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. Barclays upped their price objective on SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Finally, Wells Fargo & Company upped their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.85.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $216.38 on Tuesday. SBA Communications has a 12 month low of $183.64 and a 12 month high of $252.64. The firm has a market capitalization of $23.29 billion, a P/E ratio of 34.13, a P/E/G ratio of 0.74 and a beta of 0.74. The company’s fifty day moving average price is $211.04 and its 200 day moving average price is $219.68.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.05%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is currently 63.98%.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its position in SBA Communications by 0.9% in the 4th quarter. California State Teachers Retirement System now owns 174,818 shares of the technology company’s stock valued at $35,628,000 after acquiring an additional 1,505 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of SBA Communications in the fourth quarter valued at about $7,452,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of SBA Communications in the fourth quarter valued at about $10,762,000. Integrated Advisors Network LLC boosted its position in shares of SBA Communications by 7.8% during the fourth quarter. Integrated Advisors Network LLC now owns 2,775 shares of the technology company’s stock worth $566,000 after buying an additional 200 shares during the period. Finally, Toronto Dominion Bank grew its holdings in shares of SBA Communications by 6.7% during the fourth quarter. Toronto Dominion Bank now owns 68,763 shares of the technology company’s stock worth $14,014,000 after buying an additional 4,330 shares in 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.