SBA Communications Co. (NASDAQ:SBAC) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of SBA Communications Co. (NASDAQ:SBAC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fourteen brokerages that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $251.92.

A number of brokerages recently weighed in on SBAC. StockNews.com raised shares of SBA Communications from a "hold" rating to a "buy" rating in a research note on Thursday, April 10th. Wells Fargo & Company boosted their price target on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Royal Bank of Canada restated an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Morgan Stanley began coverage on SBA Communications in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price objective on the stock. Finally, Barclays raised their target price on SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st.

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Insider Activity

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

Institutional Trading of SBA Communications

A number of institutional investors have recently bought and sold shares of SBAC. NorthCrest Asset Manangement LLC acquired a new stake in shares of SBA Communications during the 1st quarter worth about $328,000. Tobam increased its stake in SBA Communications by 331.0% in the first quarter. Tobam now owns 2,659 shares of the technology company's stock valued at $585,000 after purchasing an additional 2,042 shares during the last quarter. Legacy Trust raised its holdings in SBA Communications by 11.5% during the first quarter. Legacy Trust now owns 12,074 shares of the technology company's stock worth $2,656,000 after purchasing an additional 1,245 shares in the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of SBA Communications during the 1st quarter worth approximately $343,000. Finally, CX Institutional acquired a new position in shares of SBA Communications in the 1st quarter valued at $219,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Trading Up 0.7 %

NASDAQ:SBAC traded up $1.68 during trading hours on Friday, reaching $226.55. 601,904 shares of the company were exchanged, compared to its average volume of 891,564. The stock's 50-day moving average is $216.05 and its 200-day moving average is $217.26. SBA Communications has a twelve month low of $183.64 and a twelve month high of $252.64. The firm has a market cap of $24.38 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's payout ratio is 63.98%.

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.