SBA Communications (NASDAQ:SBAC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of SBA Communications (NASDAQ:SBAC - Free Report) from a hold rating to a buy rating in a research note released on Thursday.

Several other equities analysts also recently commented on SBAC. BMO Capital Markets restated a "market perform" rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. JMP Securities began 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. Morgan Stanley started coverage on shares of SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price target on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Finally, Wells Fargo & Company increased 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. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $251.92.

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SBA Communications Stock Up 0.9 %

Shares of NASDAQ:SBAC traded up $2.13 during trading on Thursday, reaching $226.86. 57,149 shares of the company traded hands, compared to its average volume of 890,180. The firm has a fifty day simple moving average of $215.66 and a 200 day simple moving average of $217.21. SBA Communications has a 1-year low of $183.64 and a 1-year high of $252.64. The firm has a market cap of $24.41 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $1.11 dividend. 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 an increase from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio is presently 63.98%.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of SBA Communications

Several institutional investors and hedge funds have recently bought and sold shares of SBAC. Oak Thistle LLC increased its stake in shares of SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock worth $1,350,000 after purchasing an additional 2,863 shares during the period. Czech National Bank raised its holdings in SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company's stock valued at $4,751,000 after buying an additional 1,421 shares during the last quarter. First Hawaiian Bank raised its position in SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock worth $2,522,000 after purchasing an additional 5,897 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock valued at $266,675,000 after purchasing an additional 38,725 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in SBA Communications by 49.3% during the fourth quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company's stock worth $141,205,000 after purchasing an additional 226,878 shares during the period. Institutional investors own 97.35% of the company's stock.

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.