SBA Communications (NASDAQ:SBAC) Price Target Increased to $240.00 by Analysts at Wells Fargo & Company

SBA Communications (NASDAQ:SBAC) had its price objective hoisted by Wells Fargo & Company from $220.00 to $240.00 in a research report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the stock. Barclays decreased their target price on shares of SBA Communications from $240.00 to $236.00 and set an overweight rating for the company in a research note on Tuesday, July 30th. Morgan Stanley increased their target price on SBA Communications from $232.00 to $252.00 and gave the stock an overweight rating in a research note on Wednesday, September 18th. KeyCorp increased their price objective on shares of SBA Communications from $227.00 to $230.00 and gave the company an overweight rating in a research report on Tuesday, July 30th. Royal Bank of Canada increased their price target on shares of SBA Communications from $235.00 to $245.00 and gave the company an outperform rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group raised their price target on shares of SBA Communications from $212.00 to $240.00 and gave the company a neutral rating in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, SBA Communications has a consensus rating of Moderate Buy and an average price target of $247.42.

SBA Communications Stock Down 1.0 %

NASDAQ:SBAC opened at $233.23 on Thursday. The firm’s fifty day simple moving average is $231.22 and its 200 day simple moving average is $211.35. The stock has a market cap of $25.07 billion, a P/E ratio of 49.20, a price-to-earnings-growth ratio of 0.71 and a beta of 0.67. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter last year, the business earned $3.24 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts expect that SBA Communications will post 12.52 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s payout ratio is 82.70%.

Insider Buying and Selling at SBA Communications

In other news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,590 shares of company stock valued at $11,483,981. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in shares of SBA Communications in the second quarter worth $32,000. Quarry LP boosted its holdings in SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after buying an additional 132 shares during the period. Family Firm Inc. purchased a new stake in SBA Communications in the 2nd quarter worth $36,000. Global X Japan Co. Ltd. bought a new stake in SBA Communications during the second quarter valued at about $49,000. Finally, Versant Capital Management Inc lifted its position in shares of SBA Communications by 4,500.0% in the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after acquiring an additional 270 shares in the last quarter. 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.