SBA Communications (NASDAQ:SBAC) Lowered to “Hold” Rating by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of SBA Communications (NASDAQ:SBAC) from a buy rating to a hold rating in a report issued on Tuesday morning, Marketbeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has $247.00 price objective on the technology company’s stock.

Several other analysts have also recently issued reports on the stock. Citigroup increased their price target on shares of SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Morgan Stanley initiated coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price on the stock. BMO Capital Markets raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a “market perform” rating in a research report on Tuesday, April 29th. JMP Securities upped their price objective on SBA Communications from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 29th. Finally, Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

SBA Communications Trading Down 0.7%

SBAC opened at $233.78 on Tuesday. The stock’s 50-day moving average price is $225.23 and its 200 day moving average price is $216.03. SBA Communications has a 12-month low of $185.44 and a 12-month high of $252.64. The firm has a market cap of $25.12 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications’s payout ratio is 60.91%.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jack Langer sold 5,000 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now directly owns 10,522 shares of the company’s stock, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

Institutional Trading of SBA Communications

A number of large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company’s stock valued at $55,000 after buying an additional 45 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of SBA Communications by 5.6% in the 1st quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock valued at $194,000 after acquiring an additional 47 shares during the period. Exchange Traded Concepts LLC raised its position in SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after purchasing an additional 50 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in SBA Communications by 2.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company’s stock worth $495,000 after purchasing an additional 50 shares during the period. Finally, Auxano Advisors LLC grew its position in SBA Communications by 2.3% during the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after purchasing an additional 54 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

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.