SBA Communications (NASDAQ:SBAC) Sees Strong Trading Volume – Time to Buy?

SBA Communications Corporation (NASDAQ:SBAC) saw unusually-strong trading volume on Monday . Approximately 692,127 shares traded hands during mid-day trading, a decline of 32% from the previous session’s volume of 1,018,701 shares.The stock last traded at $211.61 and had previously closed at $204.04.

Analysts Set New Price Targets

SBAC has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Royal Bank Of Canada upped their price target on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Truist Financial started coverage on SBA Communications in a report on Tuesday, March 31st. They set a “hold” rating and a $193.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. Finally, Sanford C. Bernstein started coverage on SBA Communications in a research note on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price target for the company. 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $230.11.

SBA Communications Stock Performance

The stock has a market capitalization of $22.52 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 2.02 and a beta of 0.88. The stock’s 50 day moving average is $188.04 and its two-hundred day moving average is $190.99.

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

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. SBA Communications’s dividend payout ratio (DPR) is currently 52.47%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SBAC. Nordea Investment Management AB grew its holdings in shares of SBA Communications by 5.4% in the fourth quarter. Nordea Investment Management AB now owns 1,245,399 shares of the technology company’s stock valued at $241,234,000 after purchasing an additional 63,323 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of SBA Communications by 27.5% in the third quarter. ProShare Advisors LLC now owns 38,988 shares of the technology company’s stock worth $7,538,000 after acquiring an additional 8,404 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of SBA Communications by 24.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after acquiring an additional 366,491 shares during the period. Dodge & Cox increased its position in shares of SBA Communications by 12.3% during the third quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after acquiring an additional 1,058,803 shares during the period. Finally, SteelPeak Wealth LLC acquired a new stake in shares of SBA Communications in the third quarter valued at $2,618,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

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.