SBA Communications (NASDAQ:SBAC) Price Target Raised to $270.00 at JMP Securities

SBA Communications (NASDAQ:SBAC) had its price objective boosted by JMP Securities from $250.00 to $270.00 in a research note issued to investors on Tuesday,Benzinga reports. JMP Securities currently has a market outperform rating on the technology company’s stock.

Several other research analysts also recently commented on SBAC. Morgan Stanley began coverage on SBA Communications in a report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Citigroup raised their price target on shares of SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Raymond James reiterated a “strong-buy” rating and set a $268.00 price objective (up from $265.00) on shares of SBA Communications in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.38.

SBA Communications Stock Performance

SBAC stock opened at $238.50 on Tuesday. The company has a market capitalization of $25.67 billion, a P/E ratio of 37.62, a PEG ratio of 0.74 and a beta of 0.83. The company has a fifty day moving average price of $220.02 and a 200-day moving average price of $216.52. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $1.11 per share. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.86%. SBA Communications’s dividend payout ratio is 63.98%.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On SBA Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Evermay Wealth Management LLC acquired a new position in SBA Communications during the 4th quarter valued at about $27,000. Independence Bank of Kentucky bought a new stake in SBA Communications during the first quarter worth $28,000. Graney & King LLC purchased a new stake in SBA Communications in the 4th quarter valued at $29,000. NBC Securities Inc. lifted its stake in SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock valued at $44,000 after acquiring an additional 189 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its holdings in SBA Communications by 161.8% during the 4th 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 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.