Analysts Set SBA Communications Co. (NASDAQ:SBAC) Target Price at $251.29

Shares of SBA Communications Co. (NASDAQ:SBAC) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $253.07.

Several equities research analysts have recently issued reports on the stock. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets restated a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. JMP Securities started coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Barclays cut their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, February 20th.

SBA Communications Stock Up 1.3 %

SBAC opened at $218.20 on Friday. The stock’s 50 day moving average price is $203.52 and its two-hundred day moving average price is $220.38. The firm has a market capitalization of $23.46 billion, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. SBA Communications has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.03%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio is currently 63.98%.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Hedge funds have recently added to or reduced their stakes in the stock. Integrated Advisors Network LLC lifted 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 purchasing an additional 200 shares in the last quarter. Toronto Dominion Bank raised its position in SBA Communications by 6.7% in the 4th quarter. Toronto Dominion Bank now owns 68,763 shares of the technology company’s stock worth $14,014,000 after purchasing an additional 4,330 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in SBA Communications by 39.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,100,724 shares of the technology company’s stock worth $224,328,000 after buying an additional 312,125 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in SBA Communications by 1.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 898,360 shares of the technology company’s stock worth $183,086,000 after buying an additional 11,976 shares in the last quarter. Finally, Woodline Partners LP bought a new position in SBA Communications in the 4th quarter valued at $5,693,000. Institutional investors own 97.35% of the company’s stock.

About SBA Communications

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.