Brokerages Set SBA Communications Co. (NASDAQ:SBAC) Price Target at $252.54

SBA Communications Co. (NASDAQ:SBAC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the fourteen research firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $252.85.

A number of analysts have issued reports on SBAC shares. StockNews.com downgraded SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Wells Fargo & Company boosted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Barclays increased their price target on shares of SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a research note on Friday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th.

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Insider Buying and Selling at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction on Friday, March 7th. The shares were 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 approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of SBA Communications

Hedge funds and other institutional investors have recently bought and sold shares of the business. Evermay Wealth Management LLC acquired a new position in shares of SBA Communications during the 4th quarter worth about $27,000. Graney & King LLC purchased a new stake in SBA Communications during the fourth quarter worth approximately $29,000. Oakworth Capital Inc. lifted its stake in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock worth $47,000 after purchasing an additional 144 shares during the last quarter. CKW Financial Group acquired a new position in SBA Communications in the fourth quarter valued at approximately $56,000. Finally, State of Wyoming increased its stake in SBA Communications by 75.8% in the fourth quarter. State of Wyoming now owns 276 shares of the technology company's stock valued at $56,000 after purchasing an additional 119 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of SBAC stock traded up $0.69 during trading hours on Tuesday, reaching $221.66. The company had a trading volume of 582,946 shares, compared to its average volume of 847,054. SBA Communications has a 12-month low of $183.64 and a 12-month high of $252.64. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 0.74 and a beta of 0.74. The stock has a fifty day moving average of $209.01 and a 200-day moving average of $220.21.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 2.00%. This is a boost from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. SBA Communications's payout ratio is presently 63.98%.

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.