SBA Communications (NASDAQ:SBAC) Price Target Lowered to $254.00 at Barclays

SBA Communications (NASDAQ:SBAC) had its target price reduced by Barclays from $257.00 to $254.00 in a report issued on Monday,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Raymond James lifted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Morgan Stanley lifted their price target on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price target on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group lifted their price target on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and a consensus price target of $254.77.

SBA Communications Stock Performance

SBA Communications stock opened at $194.96 on Monday. The company’s fifty day moving average price is $213.15 and its 200 day moving average price is $221.36. SBA Communications has a 1 year low of $183.64 and a 1 year high of $252.64. The stock has a market capitalization of $20.96 billion, a P/E ratio of 30.75, a P/E/G ratio of 0.72 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period last year, the firm earned $3.34 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. Sell-side analysts predict that SBA Communications will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were issued a $0.98 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 2.01%. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $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 available at the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares in the company, valued at $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. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently made changes to their positions in SBAC. Acadian Asset Management LLC acquired a new position in shares of SBA Communications during the second quarter worth about $656,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of SBA Communications during the second quarter worth about $60,000. DekaBank Deutsche Girozentrale grew its position in shares of SBA Communications by 13.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 26,380 shares of the technology company’s stock worth $5,165,000 after buying an additional 3,114 shares in the last quarter. Federated Hermes Inc. grew its position in shares of SBA Communications by 15.7% during the second quarter. Federated Hermes Inc. now owns 97,620 shares of the technology company’s stock worth $19,163,000 after buying an additional 13,230 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of SBA Communications by 49.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,864 shares of the technology company’s stock worth $366,000 after buying an additional 618 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

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.