SBA Communications (NASDAQ:SBAC) had its target price lifted by KeyCorp from $259.00 to $292.00 in a research report sent to investors on Monday morning, The Fly reports. KeyCorp currently has an overweight rating on the technology company’s stock.

SBAC has been the subject of several other reports. Raymond James lowered SBA Communications from an outperform rating to a market perform rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. SunTrust Banks raised their target price on SBA Communications to $255.00 and gave the company a buy rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lowered SBA Communications from an overweight rating to a neutral rating and lifted their price objective for the stock from $220.00 to $270.00 in a report on Thursday, August 1st. TheStreet raised SBA Communications from a c rating to a b- rating in a report on Monday, July 29th. Finally, Cowen lifted their price objective on SBA Communications from $203.00 to $250.00 and gave the stock an outperform rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $230.85.

Shares of SBA Communications stock opened at $260.53 on Monday. SBA Communications has a 1 year low of $146.13 and a 1 year high of $263.04. The firm has a market cap of $29.44 billion, a PE ratio of 34.28, a P/E/G ratio of 3.33 and a beta of 0.69. The stock has a fifty day moving average price of $243.03 and a 200-day moving average price of $212.52.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, July 29th. The technology company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($1.58). SBA Communications had a net margin of 6.75% and a negative return on equity of 4.12%. The business had revenue of $500.10 million for the quarter, compared to analysts’ expectations of $489.09 million. During the same period in the prior year, the business earned ($0.50) earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts forecast that SBA Communications will post 7.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, August 28th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.57%. The ex-dividend date is Tuesday, August 27th.

In related news, Director George R. Krouse, Jr. sold 620 shares of SBA Communications stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $258.26, for a total value of $160,121.20. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,582,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Brian D. Lazarus sold 1,466 shares of SBA Communications stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $261.00, for a total value of $382,626.00. Following the completion of the sale, the chief accounting officer now directly owns 17,829 shares of the company’s stock, valued at approximately $4,653,369. The disclosure for this sale can be found here. In the last three months, insiders sold 105,825 shares of company stock valued at $25,054,792. 2.50% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. CWM LLC grew its holdings in SBA Communications by 17.7% during the 2nd quarter. CWM LLC now owns 286 shares of the technology company’s stock valued at $64,000 after buying an additional 43 shares in the last quarter. Tealwood Asset Management Inc. grew its holdings in SBA Communications by 0.5% during the 2nd quarter. Tealwood Asset Management Inc. now owns 9,144 shares of the technology company’s stock valued at $2,056,000 after buying an additional 46 shares in the last quarter. NEXT Financial Group Inc grew its holdings in SBA Communications by 22.7% during the 2nd quarter. NEXT Financial Group Inc now owns 276 shares of the technology company’s stock valued at $62,000 after buying an additional 51 shares in the last quarter. Advisory Services Network LLC grew its holdings in SBA Communications by 65.4% during the 2nd quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after buying an additional 51 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its holdings in SBA Communications by 5.6% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,025 shares of the technology company’s stock valued at $230,000 after buying an additional 54 shares in the last quarter. 93.54% of the stock is owned by institutional investors and hedge funds.

About SBA Communications

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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