SBA Communications (NASDAQ:SBAC) Stock Price Expected to Rise, JMP Securities Analyst Says

SBA Communications (NASDAQ:SBAC) had its price target hoisted by JMP Securities from $250.00 to $270.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a market outperform rating on the technology company’s stock.

Several other equities analysts have also weighed in on the stock. Morgan Stanley initiated coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 price target for the company. BMO Capital Markets raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Tuesday. Barclays upped their price objective on SBA Communications from $244.00 to $247.00 and gave the company an “overweight” rating in a research note on Tuesday. Raymond James reissued a “strong-buy” rating and issued a $268.00 target price (up from $265.00) on shares of SBA Communications in a research report on Tuesday. Finally, Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $252.38.

SBA Communications Trading Up 6.8 %

SBAC stock opened at $238.50 on Tuesday. The stock has a market cap of $25.67 billion, a P/E ratio of 37.62, a P/E/G ratio of 0.74 and a beta of 0.83. The stock’s fifty day simple moving average is $220.02 and its two-hundred day simple moving average is $216.52. SBA Communications has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be given a dividend of $1.11 per share. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.86%. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Insider Transactions at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company’s stock worth $55,000 after purchasing an additional 45 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in 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 acquiring an additional 50 shares during the period. Central Pacific Bank Trust Division lifted its position in SBA Communications by 2.3% in the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company’s stock valued at $495,000 after purchasing an additional 50 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares during the period. Finally, Auxano Advisors LLC grew its holdings in shares of 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 purchasing an additional 54 shares during 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.