SBA Communications (NASDAQ:SBAC) Price Target Cut to $255.00 by Analysts at Barclays

SBA Communications (NASDAQ:SBAC) had its target price reduced by Barclays from $260.00 to $255.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. Bank of America raised shares of SBA Communications from a neutral rating to a buy rating and set a $260.00 price target on the stock in a research report on Thursday, March 7th. BMO Capital Markets dropped their price target on shares of SBA Communications from $285.00 to $265.00 and set an outperform rating on the stock in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, SBA Communications presently has an average rating of Buy and a consensus target price of $268.00.

SBA Communications Stock Up 0.6 %

NASDAQ SBAC opened at $196.22 on Wednesday. The stock has a market capitalization of $21.21 billion, a PE ratio of 42.56, a price-to-earnings-growth ratio of 1.19 and a beta of 0.56. The company has a 50 day moving average price of $212.12 and a two-hundred day moving average price of $222.50. SBA Communications has a 12-month low of $185.23 and a 12-month high of $266.77.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The business had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. SBA Communications’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.11 earnings per share. As a group, equities analysts anticipate that SBA Communications will post 12.6 EPS for the current year.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s payout ratio is currently 85.03%.

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the sale, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

A number of institutional investors have recently bought and sold shares of SBAC. Raymond James Trust N.A. boosted its stake in SBA Communications by 19.0% during the first quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock worth $662,000 after buying an additional 307 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of SBA Communications by 19.6% in the 1st quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock valued at $1,024,000 after purchasing an additional 489 shares in the last quarter. Prudential PLC acquired a new stake in shares of SBA Communications in the 1st quarter valued at $568,000. Sequoia Financial Advisors LLC acquired a new stake in shares of SBA Communications in the 1st quarter valued at $234,000. Finally, Zions Bancorporation N.A. boosted its stake in shares of SBA Communications by 157.6% in the 1st quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock valued at $111,000 after purchasing an additional 197 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

About SBA Communications

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.