SBA Communications (NASDAQ:SBAC) Rating Lowered to Neutral at Moffett Nathanson

Moffett Nathanson lowered shares of SBA Communications (NASDAQ:SBACGet Rating) from a buy rating to a neutral rating in a report issued on Monday, MarketBeat.com reports. Moffett Nathanson currently has $380.00 price objective on the technology company’s stock, down from their prior price objective of $393.00.

Several other research firms also recently commented on SBAC. StockNews.com assumed coverage on shares of SBA Communications in a research report on Thursday, March 31st. They set a hold rating on the stock. Bank of America lifted their price objective on shares of SBA Communications from $365.00 to $425.00 in a research note on Monday, January 3rd. Royal Bank of Canada lowered their price objective on shares of SBA Communications from $380.00 to $370.00 and set an outperform rating for the company in a research note on Monday, March 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of SBA Communications from $370.00 to $365.00 and set a buy rating for the company in a research report on Wednesday, March 2nd. Finally, Morgan Stanley lifted their price target on shares of SBA Communications from $384.00 to $412.00 and gave the company an overweight rating in a research report on Thursday, April 7th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, SBA Communications currently has a consensus rating of Buy and a consensus target price of $385.00.

Shares of SBA Communications stock opened at $361.30 on Monday. The company has a market capitalization of $39.58 billion, a price-to-earnings ratio of 169.62 and a beta of 0.44. SBA Communications has a 12-month low of $274.93 and a 12-month high of $391.15. The firm’s 50-day moving average price is $325.56 and its two-hundred day moving average price is $338.98.

SBA Communications (NASDAQ:SBACGet Rating) last announced its quarterly earnings data on Monday, February 28th. The technology company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.25). The firm had revenue of $595.30 million for the quarter, compared to analyst estimates of $589.77 million. SBA Communications had a negative return on equity of 4.72% and a net margin of 10.29%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.49 earnings per share. On average, research analysts forecast that SBA Communications will post 10.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Thursday, March 10th were issued a $0.71 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, March 9th. This represents a $2.84 dividend on an annualized basis and a yield of 0.79%. SBA Communications’s dividend payout ratio is 133.33%.

In other news, EVP Kurt L. Bagwell sold 3,757 shares of the firm’s stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $330.00, for a total transaction of $1,239,810.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George R. Krouse, Jr. sold 500 shares of the stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $328.88, for a total value of $164,440.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,260 shares of company stock valued at $1,404,992. 2.20% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of SBAC. Morgan Stanley boosted its stake in SBA Communications by 75.2% in the 2nd quarter. Morgan Stanley now owns 971,938 shares of the technology company’s stock worth $309,757,000 after purchasing an additional 417,168 shares during the period. Bank of America Corp DE boosted its position in shares of SBA Communications by 1.7% during the 2nd quarter. Bank of America Corp DE now owns 949,833 shares of the technology company’s stock valued at $302,712,000 after acquiring an additional 15,804 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of SBA Communications during the 3rd quarter valued at approximately $306,000. DekaBank Deutsche Girozentrale boosted its position in shares of SBA Communications by 30.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 30,064 shares of the technology company’s stock valued at $9,951,000 after acquiring an additional 7,016 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of SBA Communications by 28.2% during the 3rd quarter. Global Retirement Partners LLC now owns 291 shares of the technology company’s stock valued at $96,000 after acquiring an additional 64 shares during the last quarter. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

About SBA Communications (Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By ÂBuilding Better Wireless, SBA generates revenue from two primary businesses Â- site leasing and site development services.

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