SBA Communications Corporation (NASDAQ:SBAC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of SBA Communications Corporation (NASDAQ:SBAC) have been assigned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $237.2222.

A number of analysts have weighed in on SBAC shares. Barclays increased their price target on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Scotiabank increased their price target on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Weiss Ratings upgraded shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Morgan Stanley raised their price target on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. Finally, Wells Fargo & Company raised their price target on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dodge & Cox lifted its holdings in SBA Communications by 24.1% during the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock valued at $2,320,412,000 after purchasing an additional 2,328,837 shares during the last quarter. Norges Bank bought a new position in SBA Communications during the 4th quarter valued at about $302,774,000. Arrowstreet Capital Limited Partnership lifted its holdings in SBA Communications by 256.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,092,612 shares of the technology company’s stock valued at $211,344,000 after purchasing an additional 785,850 shares during the last quarter. Millennium Management LLC lifted its holdings in SBA Communications by 171.8% during the 4th quarter. Millennium Management LLC now owns 811,543 shares of the technology company’s stock valued at $156,977,000 after purchasing an additional 513,002 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in SBA Communications by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock valued at $3,511,920,000 after purchasing an additional 403,285 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Down 4.4%

NASDAQ:SBAC opened at $195.82 on Thursday. SBA Communications has a 1 year low of $162.41 and a 1 year high of $243.16. The firm’s fifty day simple moving average is $210.48 and its 200 day simple moving average is $196.46. The firm has a market capitalization of $20.77 billion, a PE ratio of 20.61, a PEG ratio of 2.04 and a beta of 0.99.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. SBA Communications’s dividend payout ratio (DPR) is currently 52.63%.

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.