SBA Communications (NASDAQ:SBAC – Free Report) had its price target increased by JMP Securities from $250.00 to $270.00 in a report published on Tuesday,Benzinga reports. JMP Securities currently has a market outperform rating on the technology company’s stock.
Several other brokerages have also commented on SBAC. Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. BMO Capital Markets lifted their price target on SBA Communications from $230.00 to $240.00 and gave the company a “market perform” rating in a research report on Tuesday. Citigroup upped their price target on SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Morgan Stanley assumed coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.38.
View Our Latest Report on SBAC
SBA Communications Trading Down 1.1 %
SBA Communications Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be given a $1.11 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.84%. SBA Communications’s dividend payout ratio (DPR) is presently 60.91%.
Insiders Place Their Bets
In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.92% of the company’s stock.
Hedge Funds Weigh In On SBA Communications
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dodge & Cox grew its stake in shares of SBA Communications by 352.5% in the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock worth $1,497,167,000 after acquiring an additional 5,722,740 shares during the period. JPMorgan Chase & Co. grew its position in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after purchasing an additional 605,872 shares during the period. Geode Capital Management LLC raised its stake in SBA Communications by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company’s stock valued at $586,827,000 after buying an additional 71,023 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of SBA Communications by 5.9% during the 4th quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company’s stock valued at $491,549,000 after buying an additional 134,624 shares during the period. Finally, Cohen & Steers Inc. boosted its stake in shares of SBA Communications by 29.8% in the 4th quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company’s stock worth $383,762,000 after buying an additional 432,644 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.
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