Deutsche Bank Aktiengesellschaft Increases SBA Communications (NASDAQ:SBAC) Price Target to $240.00

SBA Communications (NASDAQ:SBAC) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $230.00 to $240.00 in a report issued on Wednesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the technology company’s stock.

SBAC has been the subject of several other research reports. StockNews.com downgraded shares of SBA Communications from a buy rating to a hold rating in a research report on Tuesday, August 6th. Wells Fargo & Company lowered shares of SBA Communications from an overweight rating to an equal weight rating and dropped their price objective for the company from $230.00 to $220.00 in a report on Monday, July 15th. The Goldman Sachs Group started coverage on SBA Communications in a research note on Monday, July 1st. They issued a neutral rating and a $212.00 target price for the company. Barclays cut their price target on SBA Communications from $240.00 to $236.00 and set an overweight rating on the stock in a report on Tuesday, July 30th. Finally, Royal Bank of Canada boosted their price objective on SBA Communications from $235.00 to $245.00 and gave the company an outperform rating in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $241.54.

SBA Communications Stock Up 1.6 %

SBAC opened at $218.17 on Wednesday. The stock has a market cap of $23.45 billion, a PE ratio of 42.78, a price-to-earnings-growth ratio of 0.68 and a beta of 0.65. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76. The company has a fifty day moving average of $205.22 and a 200-day moving average of $205.79.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. During the same quarter in the previous year, the business posted $3.24 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. Sell-side analysts anticipate that SBA Communications will post 12.53 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insiders Place Their Bets

In other news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its stake in SBA Communications by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after acquiring an additional 53 shares during the last quarter. Marks Group Wealth Management Inc grew its holdings in SBA Communications by 4.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after purchasing an additional 54 shares during the period. Ballentine Partners LLC increased its position in SBA Communications by 2.7% in the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after buying an additional 55 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of SBA Communications by 4.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock valued at $286,000 after buying an additional 57 shares during the period. Finally, Industrial Alliance Investment Management Inc. lifted its position in shares of SBA Communications by 3.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after buying an additional 58 shares during the last quarter. Institutional investors 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.