SBA Communications’ (SBAC) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of SBA Communications (NASDAQ:SBAC) in a research report report published on Monday morning,Benzinga reports. They currently have a $255.00 price objective on the technology company’s stock.

Several other brokerages also recently commented on SBAC. Wells Fargo & Company dropped their target price on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Barclays reduced their target price on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Raymond James raised their price objective on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.00.

SBA Communications Stock Performance

SBA Communications stock opened at $212.84 on Monday. The business has a fifty day moving average of $202.63 and a two-hundred day moving average of $220.38. SBA Communications has a one year low of $183.64 and a one year high of $252.64. The company has a market cap of $22.89 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, February 24th. The technology company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $1.39. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. Sell-side analysts predict that SBA Communications will post 12.57 EPS for the current year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.09%. SBA Communications’s payout ratio is presently 61.83%.

Insider Transactions at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald Day sold 2,321 shares of the company’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 transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % 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.

Institutional Trading of SBA Communications

A number of institutional investors have recently bought and sold shares of SBAC. Toronto Dominion Bank boosted its stake in SBA Communications by 6.7% during the 4th quarter. Toronto Dominion Bank now owns 68,763 shares of the technology company’s stock worth $14,014,000 after acquiring an additional 4,330 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of SBA Communications by 39.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,100,724 shares of the technology company’s stock valued at $224,328,000 after acquiring an additional 312,125 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of SBA Communications by 1.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 898,360 shares of the technology company’s stock worth $183,086,000 after purchasing an additional 11,976 shares in the last quarter. Woodline Partners LP acquired a new stake in SBA Communications in the fourth quarter valued at $5,693,000. Finally, Sone Capital Management LLC acquired a new stake in SBA Communications in the 4th quarter valued at about $1,905,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

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.