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

StockNews.com downgraded shares of SBA Communications (NASDAQ:SBAC) from a buy rating to a hold rating in a research report sent to investors on Friday.

SBAC has been the topic of several other reports. Bank of America upgraded 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. Royal Bank of Canada lowered their target price on shares of SBA Communications from $250.00 to $235.00 and set an outperform rating on the stock in a report on Thursday, May 9th. TD Cowen cut their price target on SBA Communications from $266.00 to $253.00 and set a buy rating for the company in a research note on Tuesday, April 30th. KeyCorp lowered their price objective on SBA Communications from $276.00 to $227.00 and set an overweight rating on the stock in a research note on Tuesday, April 30th. Finally, Barclays cut their target price on SBA Communications from $241.00 to $240.00 and set an overweight rating for the company in a research report on Thursday, May 30th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $252.17.

SBA Communications Stock Down 0.3 %

SBA Communications stock opened at $196.30 on Friday. The company’s 50-day moving average price is $194.93 and its two-hundred day moving average price is $213.64. The stock has a market cap of $21.09 billion, a P/E ratio of 38.49, a P/E/G ratio of 0.62 and a beta of 0.65. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76.

SBA Communications (NASDAQ:SBAC) last announced its 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. The company had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.13 earnings per share. Equities analysts anticipate that SBA Communications will post 12.51 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd were issued a $0.98 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

Institutional Trading of SBA Communications

A number of hedge funds and other institutional investors have recently modified their holdings of SBAC. CVA Family Office LLC acquired a new stake in shares of SBA Communications during the 4th quarter valued at $37,000. Glassman Wealth Services raised its position in SBA Communications by 79.1% in the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after purchasing an additional 68 shares during the last quarter. Pinnacle Bancorp Inc. raised its position in SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares during the last quarter. Allworth Financial LP boosted its stake in shares of SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of SBA Communications by 400.0% during the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Company Profile

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.