SBA Communications (NASDAQ:SBAC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of SBA Communications (NASDAQ:SBAC) from a hold rating to a buy rating in a report released on Thursday morning.

Several other brokerages have also recently issued reports on SBAC. JMP Securities started coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Wells Fargo & Company increased their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Morgan Stanley assumed 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. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $251.92.

SBA Communications Trading Up 3.3 %

Shares of SBA Communications stock opened at $219.18 on Thursday. The company has a 50-day moving average of $215.23 and a two-hundred day moving average of $217.44. SBA Communications has a 12-month low of $183.64 and a 12-month high of $252.64. The stock has a market cap of $23.59 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $1.11 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. SBA Communications’s dividend payout ratio (DPR) is 63.98%.

Insider Activity at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the company’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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

A number of institutional investors have recently bought and sold shares of the stock. Independence Bank of Kentucky purchased a new position in SBA Communications during the first quarter worth approximately $28,000. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the 4th quarter worth $27,000. Graney & King LLC acquired a new position in SBA Communications in the fourth quarter valued at $29,000. NBC Securities Inc. grew its position in SBA Communications by 1,575.0% during the first quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock valued at $44,000 after acquiring an additional 189 shares during the period. Finally, Oakworth Capital Inc. increased its stake in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after acquiring an additional 144 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other 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.