SBA Communications (NASDAQ:SBAC) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of SBA Communications (NASDAQ:SBAC) from a buy rating to a hold rating in a report released on Wednesday.

A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company lifted their target price on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Morgan Stanley lifted their price target on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Raymond James increased their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, KeyCorp increased their price target on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Stock Down 1.7 %

SBAC stock opened at $225.59 on Wednesday. The company’s 50-day moving average price is $237.96 and its two-hundred day moving average price is $214.58. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76. The firm has a market cap of $24.24 billion, a P/E ratio of 35.58, a P/E/G ratio of 0.69 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the previous year, the company earned $3.34 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts predict that SBA Communications will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be paid a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.74%. SBA Communications’s payout ratio is 61.83%.

Insider Transactions at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now owns 8,084 shares in the company, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Day sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SBA Communications

Institutional investors have recently added to or reduced their stakes in the business. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the 2nd quarter valued at $32,000. Capital Performance Advisors LLP acquired a new stake in SBA Communications in the third quarter worth $35,000. Family Firm Inc. bought a new stake in SBA Communications in the second quarter valued at $36,000. Global X Japan Co. Ltd. acquired a new position in shares of SBA Communications during the second quarter valued at about $49,000. Finally, Friedenthal Financial bought a new position in shares of SBA Communications during the 3rd quarter worth about $50,000. 97.35% of the stock is owned by institutional investors and hedge funds.

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.