SBA Communications’ (SBAC) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of SBA Communications (NASDAQ:SBAC) in a research report report published on Monday morning,Benzinga reports. The firm currently has a $255.00 target price on the technology company’s stock.

SBAC has been the subject of several other reports. JMP Securities initiated coverage on SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. Wells Fargo & Company dropped their price objective on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. TD Cowen lifted their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Raymond James boosted their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.00.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $212.84 on Monday. The stock has a market capitalization of $22.89 billion, a P/E ratio of 33.57, a PEG ratio of 0.74 and a beta of 0.69. The stock’s fifty day moving average is $202.63 and its 200 day moving average is $220.38. SBA Communications has a 52 week low of $183.64 and a 52 week high of $252.64.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, February 24th. The technology company reported $3.47 EPS for the quarter, beating the consensus estimate of $2.08 by $1.39. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. Equities research analysts forecast that SBA Communications will post 12.57 earnings per share for the current year.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.09%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is 61.83%.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Trading of SBA Communications

A number of large investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of SBA Communications during the 3rd quarter valued at about $26,000. Evermay Wealth Management LLC acquired a new position in SBA Communications in the fourth quarter valued at approximately $27,000. Graney & King LLC bought a new position in shares of SBA Communications during the 4th quarter worth approximately $29,000. Capital Performance Advisors LLP acquired a new stake in shares of SBA Communications during the 3rd quarter worth approximately $35,000. Finally, Farther Finance Advisors LLC increased its stake in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.