SBA Communications (NASDAQ:SBAC) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of SBA Communications (NASDAQ:SBAC - Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

A number of other brokerages also recently commented on SBAC. Morgan Stanley began coverage on SBA Communications in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price for the company. Wells Fargo & Company boosted their price objective on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Barclays increased their target price on SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. JMP Securities assumed coverage on shares of SBA Communications in a report on Monday, January 27th. They set an "outperform" rating and a $250.00 price target for the company. Finally, 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 report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and a consensus price target of $251.92.

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SBA Communications Stock Performance

Shares of SBA Communications stock traded down $10.96 during trading hours on Wednesday, reaching $219.91. The company's stock had a trading volume of 2,220,135 shares, compared to its average volume of 876,984. SBA Communications has a one year low of $183.64 and a one year high of $252.64. The company's 50 day simple moving average is $213.48 and its 200 day simple moving average is $218.48. The stock has a market cap of $23.67 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio (DPR) is currently 63.98%.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the business's 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 sale, the vice president now 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 filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SBA Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC boosted its position in shares of SBA Communications by 15.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock valued at $78,000 after purchasing an additional 50 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in SBA Communications by 2.3% during the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock worth $495,000 after buying an additional 50 shares in the last quarter. Versant Capital Management Inc grew its position in SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after buying an additional 53 shares during the last quarter. Auxano Advisors LLC grew its position in SBA Communications by 2.3% in the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock worth $495,000 after buying an additional 54 shares during the last quarter. Finally, DoubleLine ETF Adviser LP increased its holdings in shares of SBA Communications by 0.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock valued at $1,577,000 after buying an additional 57 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

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.