SBA Communications Corporation (NASDAQ:SBAC) Receives $233.00 Average PT from Brokerages

SBA Communications Corporation (NASDAQ:SBAC) has been given an average rating of “Moderate Buy” by the eighteen brokerages that are currently covering the stock, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $232.1667.

A number of brokerages have issued reports on SBAC. Wells Fargo & Company lowered their price objective on SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Morgan Stanley reduced their price target on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, March 2nd. Scotiabank lowered their price target on SBA Communications from $233.00 to $223.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. Finally, Royal Bank Of Canada increased their price objective on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd.

Institutional Investors Weigh In On SBA Communications

Several institutional investors and hedge funds have recently made changes to their positions in SBAC. Elevation Wealth Partners LLC lifted its position in SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after acquiring an additional 110 shares in the last quarter. Quent Capital LLC bought a new stake in shares of SBA Communications in the 3rd quarter worth $27,000. DV Equities LLC bought a new stake in shares of SBA Communications in the 4th quarter worth $29,000. Geneos Wealth Management Inc. raised its stake 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 worth $36,000 after purchasing an additional 84 shares during the last quarter. Finally, Fulcrum Asset Management LLP bought a new position in shares of SBA Communications during the third quarter valued at $32,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC opened at $196.58 on Tuesday. SBA Communications has a fifty-two week low of $177.49 and a fifty-two week high of $245.16. The firm’s 50-day simple moving average is $191.15 and its two-hundred day simple moving average is $194.37. The stock has a market cap of $20.95 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.22. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The firm had revenue of $719.58 million during the quarter, compared to analyst estimates of $725.80 million. During the same period last year, the business earned $3.47 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. Equities research analysts predict that SBA Communications will post 12.57 EPS for the current year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $1.25 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, March 13th. SBA Communications’s payout ratio is currently 46.59%.

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.