SBA Communications (NASDAQ:SBAC) had its price target boosted by KeyCorp from $252.00 to $259.00 in a research note issued to investors on Tuesday, The Fly reports. They currently have an overweight rating on the technology company’s stock.
Other equities analysts also recently issued reports about the company. UBS Group downgraded SBA Communications from a buy rating to a neutral rating and lifted their target price for the company from $209.00 to $240.00 in a research report on Friday, June 7th. Moffett Nathanson reiterated a neutral rating and set a $246.00 target price on shares of SBA Communications in a research report on Monday, July 8th. BidaskClub upgraded SBA Communications from a buy rating to a strong-buy rating in a research report on Thursday, May 9th. ValuEngine upgraded SBA Communications from a hold rating to a buy rating in a research report on Wednesday, May 8th. Finally, New Street Research cut SBA Communications from a buy rating to a neutral rating and set a $236.00 price target on the stock. in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $227.15.
NASDAQ SBAC traded up $1.61 on Tuesday, hitting $248.40. 12,729 shares of the company traded hands, compared to its average volume of 495,378. The firm has a market cap of $27.86 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 4.06 and a beta of 0.67. The business has a 50 day simple moving average of $231.93. SBA Communications has a 52-week low of $146.13 and a 52-week high of $249.05.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, August 28th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $1.48 dividend on an annualized basis and a yield of 0.60%.
In other SBA Communications news, CEO Jeffrey Stoops sold 37,847 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $218.87, for a total transaction of $8,283,572.89. Following the sale, the chief executive officer now directly owns 255,141 shares of the company’s stock, valued at $55,842,710.67. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kurt L. Bagwell sold 14,320 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $225.53, for a total value of $3,229,589.60. Following the sale, the executive vice president now directly owns 58,375 shares in the company, valued at $13,165,313.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,320 shares of company stock worth $13,010,971. Insiders own 2.50% of the company’s stock.
Large investors have recently bought and sold shares of the business. Pinnacle Bank bought a new stake in shares of SBA Communications in the fourth quarter worth about $25,000. Spectrum Management Group Inc. bought a new stake in shares of SBA Communications in the first quarter worth about $27,000. Advisory Services Network LLC increased its holdings in shares of SBA Communications by 65.4% in the second quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock worth $29,000 after purchasing an additional 51 shares during the last quarter. Berman Capital Advisors LLC increased its holdings in shares of SBA Communications by 103.9% in the second quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock worth $34,000 after purchasing an additional 79 shares during the last quarter. Finally, Next Capital Management LLC bought a new stake in shares of SBA Communications in the second quarter worth about $43,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.
SBA Communications Company Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By Building Better Wireless, SBA generates revenue from two primary businesses site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
Further Reading: How are institutional investors different from individual investors?
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