Brokerages Set SBA Communications Corporation (NASDAQ:SBAC) Price Target at $225.81

Shares of SBA Communications Corporation (NASDAQ:SBAC) have been assigned an average recommendation of “Hold” from the sixteen brokerages that are covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $225.5333.

A number of analysts recently issued reports on the stock. Royal Bank Of Canada lowered their price target on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. TD Cowen restated a “buy” rating on shares of SBA Communications in a report on Tuesday, August 4th. Wolfe Research upgraded shares of SBA Communications from a “hold” rating to an “outperform” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. reduced their price objective on shares of SBA Communications from $230.00 to $220.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of SBA Communications in a research report on Monday, August 24th.

Insiders Place Their Bets

In other news, Director George R. Krouse, Jr. sold 300 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the sale, the director directly owned 8,512 shares in the company, valued at approximately $1,554,887.04. This trade represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its holdings in shares of SBA Communications by 15,128.8% in the 2nd quarter. California State Teachers Retirement System now owns 25,946,855 shares of the technology company’s stock valued at $4,578,582,000 after acquiring an additional 25,776,475 shares during the last quarter. Dodge & Cox boosted its holdings in SBA Communications by 24.1% in the fourth 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 in the last quarter. Norges Bank acquired a new position in SBA Communications in the fourth quarter valued at approximately $302,774,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in SBA Communications in the second quarter valued at approximately $228,367,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in SBA Communications by 256.2% in the fourth 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. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Down 0.7%

SBAC stock opened at $189.66 on Tuesday. The firm has a 50 day moving average of $182.87 and a 200 day moving average of $194.38. The stock has a market capitalization of $20.12 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.91 and a beta of 0.99. SBA Communications has a 52 week low of $162.41 and a 52 week high of $224.46.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $715.27 million for the quarter, compared to analyst estimates of $706.01 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.17 earnings per share. On average, equities research analysts expect that SBA Communications will post 11.41 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.6%. SBA Communications’s payout ratio is currently 53.88%.

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.