SBA Communications (NASDAQ:SBAC) Price Target Raised to $225.00

SBA Communications (NASDAQ:SBAC) had its price objective increased by Wells Fargo & Company from $210.00 to $225.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

SBAC has been the subject of a number of other reports. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays cut their price objective on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. JMP Securities started coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, TD Cowen raised their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $253.07.

SBA Communications Stock Down 0.1 %

Shares of SBAC opened at $217.90 on Wednesday. The stock has a fifty day simple moving average of $203.81 and a two-hundred day simple moving average of $220.39. The company has a market capitalization of $23.43 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64.

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 paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Insider Activity

In other news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Several institutional investors have recently added to or reduced their stakes in SBAC. International Assets Investment Management LLC lifted its stake in SBA Communications by 219,537.5% during the third quarter. International Assets Investment Management LLC now owns 35,142 shares of the technology company’s stock worth $8,459,000 after purchasing an additional 35,126 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in SBA Communications by 1.4% during the third quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock worth $1,086,000 after purchasing an additional 64 shares during the last quarter. Ballentine Partners LLC purchased a new stake in SBA Communications during the third quarter worth approximately $231,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in SBA Communications by 26.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,724 shares of the technology company’s stock worth $2,559,000 after purchasing an additional 2,232 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in SBA Communications by 11.0% during the third quarter. Nisa Investment Advisors LLC now owns 61,926 shares of the technology company’s stock worth $14,906,000 after purchasing an additional 6,129 shares during the last quarter. Hedge funds and other 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.