SBA Communications (NASDAQ:SBAC) had its price target boosted by Cowen from $203.00 to $250.00 in a research note released on Tuesday morning, The Fly reports. Cowen currently has an outperform rating on the technology company’s stock.
SBAC has been the topic of a number of other research reports. SunTrust Banks reaffirmed a buy rating and issued a $217.00 price objective on shares of SBA Communications in a report on Thursday, April 11th. They noted that the move was a valuation call. Raymond James cut shares of SBA Communications from an outperform rating to a market perform rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. ValuEngine raised shares of SBA Communications from a hold rating to a buy rating in a report on Wednesday, May 8th. New Street Research cut shares of SBA Communications from a buy rating to a neutral rating and set a $236.00 price objective on the stock. in a report on Thursday, June 13th. Finally, UBS Group cut shares of SBA Communications from a buy rating to a neutral rating and increased their price objective for the stock from $209.00 to $240.00 in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $227.15.
SBA Communications stock opened at $248.62 on Tuesday. The business has a 50-day simple moving average of $232.36. SBA Communications has a 1 year low of $146.13 and a 1 year high of $249.96. The company has a market cap of $27.79 billion, a P/E ratio of 30.37, a P/E/G ratio of 3.17 and a beta of 0.69.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $1.48 annualized dividend and a yield of 0.60%.
In other SBA Communications news, Director Brian C. Carr sold 700 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $206.50, for a total transaction of $144,550.00. Following the transaction, the director now owns 2,590 shares of the company’s stock, valued at approximately $534,835. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $3,229,589.60. Following the transaction, the executive vice president now directly owns 58,375 shares in the company, valued at approximately $13,165,313.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,320 shares of company stock worth $13,010,971. 2.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SBAC. Pinnacle Bank acquired a new position in SBA Communications during the 4th quarter valued at about $25,000. Spectrum Management Group Inc. acquired a new position in SBA Communications during the 1st quarter valued at about $27,000. Advisory Services Network LLC increased its stake in SBA Communications by 65.4% during the 2nd quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after buying an additional 51 shares during the period. Berman Capital Advisors LLC increased its stake in SBA Communications by 103.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock valued at $34,000 after buying an additional 79 shares during the period. Finally, Next Capital Management LLC acquired a new position in SBA Communications during the 2nd quarter valued at about $43,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.