Barclays Cuts SBA Communications (NASDAQ:SBAC) Price Target to $255.00

SBA Communications (NASDAQ:SBAC) had its price target decreased by Barclays from $260.00 to $255.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on SBAC. BMO Capital Markets decreased their price objective 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. Bank of America raised shares of SBA Communications from a neutral rating to a buy rating and set a $260.00 price objective on the stock in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, SBA Communications has a consensus rating of Buy and an average target price of $268.00.

SBA Communications Trading Up 0.1 %

Shares of SBAC opened at $196.06 on Wednesday. SBA Communications has a 12 month low of $185.23 and a 12 month high of $264.06. The firm’s 50 day moving average is $211.29 and its 200-day moving average is $222.30. The stock has a market capitalization of $21.20 billion, a PE ratio of 42.53, a P/E/G ratio of 1.21 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. During the same period in the prior year, the business posted $3.11 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts predict that SBA Communications will post 12.61 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SBA Communications

A number of hedge funds have recently modified their holdings of the business. Wetherby Asset Management Inc. lifted its holdings in shares of SBA Communications by 2.2% during the first quarter. Wetherby Asset Management Inc. now owns 1,940 shares of the technology company’s stock worth $668,000 after purchasing an additional 41 shares during the period. Stephens Inc. AR lifted its holdings in shares of SBA Communications by 4.6% during the first quarter. Stephens Inc. AR now owns 986 shares of the technology company’s stock worth $257,000 after purchasing an additional 43 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of SBA Communications by 6.3% during the third quarter. Glenmede Trust Co. NA now owns 748 shares of the technology company’s stock worth $212,000 after purchasing an additional 44 shares during the period. Allworth Financial LP lifted its holdings 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 worth $42,000 after purchasing an additional 45 shares during the period. Finally, Quaero Capital S.A. lifted its holdings in shares of SBA Communications by 1.4% during the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock worth $946,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds 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.