Analysts Set SBA Communications Corporation (NASDAQ:SBAC) Price Target at $237.00

Shares of SBA Communications Corporation (NASDAQ:SBAC) have earned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $233.5882.

A number of equities research analysts recently issued reports on SBAC shares. Williams Trading set a $237.00 price objective on shares of SBA Communications in a report on Tuesday, November 4th. JPMorgan Chase & Co. lowered their price objective on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Scotiabank decreased their target price on SBA Communications from $252.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. Finally, Citigroup lowered their price target on SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, October 16th.

Institutional Investors Weigh In On SBA Communications

Several hedge funds and other institutional investors have recently made changes to their positions in SBAC. Elevation Wealth Partners LLC increased its stake in shares of SBA Communications by 523.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after purchasing an additional 110 shares during the period. Quent Capital LLC acquired a new stake in SBA Communications in the 3rd quarter valued at approximately $27,000. CVA Family Office LLC increased its position in SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after buying an additional 67 shares during the period. Fulcrum Asset Management LLP acquired a new position in shares of SBA Communications during the third quarter worth approximately $32,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $194.11 on Monday. The company has a market capitalization of $20.68 billion, a P/E ratio of 25.31, a P/E/G ratio of 1.71 and a beta of 0.87. The stock’s 50 day moving average price is $191.96 and its 200 day moving average price is $203.05. SBA Communications has a 52 week low of $179.89 and a 52 week high of $245.16.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.21 by $0.09. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The company had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. During the same period in the previous year, the firm posted $3.32 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts forecast that SBA Communications will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 13th were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, November 13th. SBA Communications’s dividend payout ratio (DPR) is 57.89%.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.