SBA Communications (NASDAQ:SBAC) Price Target Cut to $241.00 by Analysts at Barclays

SBA Communications (NASDAQ:SBAC) had its price target cut by Barclays from $255.00 to $241.00 in a report released on Tuesday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. KeyCorp lowered their price target on shares of SBA Communications from $276.00 to $227.00 and set an overweight rating on the stock in a research note on Tuesday. 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 note on Thursday, March 7th. Finally, BMO Capital Markets lowered 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 note on Tuesday, February 27th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $258.23.

SBA Communications Stock Performance

Shares of SBAC opened at $186.12 on Tuesday. The stock has a market capitalization of $20.12 billion, a P/E ratio of 40.37, a P/E/G ratio of 1.21 and a beta of 0.56. The company’s fifty day moving average is $209.49 and its two-hundred day moving average is $222.75. SBA Communications has a 1 year low of $185.23 and a 1 year high of $263.08.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The business had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $671.08 million. During the same period in the prior year, the company posted $3.13 EPS. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. Sell-side analysts predict that SBA Communications will post 12.61 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.11%. SBA Communications’s dividend payout ratio (DPR) is 85.03%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now directly owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Allworth Financial LP lifted its holdings in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after acquiring an additional 45 shares during the period. Quaero Capital S.A. lifted its holdings in shares of SBA Communications by 1.4% during the 4th quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock worth $946,000 after acquiring an additional 50 shares during the period. Marks Group Wealth Management Inc lifted its holdings in shares of SBA Communications by 4.4% during the 4th quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock worth $323,000 after acquiring an additional 54 shares during the period. Ballentine Partners LLC lifted its holdings in shares of SBA Communications by 2.7% during the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after acquiring an additional 55 shares during the period. Finally, Warwick Investment Management Inc. lifted its holdings in shares of SBA Communications by 6.1% during the 4th quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock worth $269,000 after acquiring an additional 61 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

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.