SBA Communications (NASDAQ:SBAC) Earns Hold Rating from Analysts at Truist Financial

Analysts at Truist Financial initiated coverage on shares of SBA Communications (NASDAQ:SBAC) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating and a $193.00 price target on the technology company’s stock. Truist Financial’s price objective indicates a potential upside of 13.64% from the stock’s previous close.

SBAC has been the topic of a number of other reports. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. Morgan Stanley dropped their target price on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, March 2nd. JPMorgan Chase & Co. lowered their price target on SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Wells Fargo & Company cut their price objective on SBA Communications from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Finally, Scotiabank lowered their target price on SBA Communications from $233.00 to $223.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $230.11.

SBA Communications Stock Up 1.7%

Shares of SBA Communications stock opened at $169.83 on Tuesday. The firm has a market cap of $17.97 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.66 and a beta of 0.86. SBA Communications has a 52 week low of $162.41 and a 52 week high of $245.16. The business’s fifty day simple moving average is $187.89 and its 200-day simple moving average is $191.31.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC increased its holdings in SBA Communications by 10.0% during the 4th quarter. Hsbc Holdings PLC now owns 179,229 shares of the technology company’s stock worth $34,696,000 after purchasing an additional 16,265 shares during the period. Corient Private Wealth LLC grew its position in shares of SBA Communications by 60.1% during the fourth quarter. Corient Private Wealth LLC now owns 24,707 shares of the technology company’s stock worth $4,780,000 after buying an additional 9,270 shares in the last quarter. Kera Capital Partners Inc. increased its stake in shares of SBA Communications by 124.0% during the fourth quarter. Kera Capital Partners Inc. now owns 3,448 shares of the technology company’s stock worth $635,000 after buying an additional 1,909 shares during the period. Invesco Ltd. increased its stake in shares of SBA Communications by 0.5% during the fourth quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company’s stock worth $351,082,000 after buying an additional 9,656 shares during the period. Finally, Alpine Woods Capital Investors LLC raised its holdings in SBA Communications by 15.8% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 29,648 shares of the technology company’s stock valued at $5,735,000 after acquiring an additional 4,046 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

About SBA Communications

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.