SBA Communications Corporation (NASDAQ:SBAC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of SBA Communications Corporation (NASDAQ:SBAC) have received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are covering the firm, Marketbeat reports. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $236.4737.

Several equities analysts recently issued reports on SBAC shares. Wells Fargo & Company boosted their price target on SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. Sanford C. Bernstein started coverage on SBA Communications in a research note on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target on the stock. Scotiabank lowered their price target on SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Finally, Truist Financial upgraded SBA Communications from a “hold” rating to a “buy” rating and boosted their price target for the company from $193.00 to $247.00 in a research note on Wednesday, April 22nd.

Institutional Investors Weigh In On SBA Communications

Several large investors have recently modified their holdings of SBAC. Elevation Wealth Partners LLC grew its stake in shares of 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 purchasing an additional 110 shares during the period. Quent Capital LLC bought a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $27,000. DV Equities LLC bought a new stake in shares of SBA Communications in the 4th quarter valued at approximately $29,000. Geneos Wealth Management Inc. grew its stake in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares during the period. Finally, Fulcrum Asset Management LLP bought a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $32,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Performance

SBA Communications stock opened at $217.59 on Wednesday. SBA Communications has a 52 week low of $162.41 and a 52 week high of $245.16. The firm has a market capitalization of $23.02 billion, a PE ratio of 22.83, a PEG ratio of 2.13 and a beta of 0.88. The business’s 50-day simple moving average is $197.79 and its 200-day simple moving average is $193.86.

SBA Communications (NASDAQ:SBAC) last issued its quarterly 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 negative return on equity of 20.81% and a net margin of 36.40%.The firm had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. During the same period in the previous year, the company posted $3.47 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts forecast that SBA Communications will post 11.49 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $1.25 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, March 13th. SBA Communications’s dividend payout ratio is presently 52.47%.

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.