Brokerages Set SBA Communications Corporation (NASDAQ:SBAC) Target Price at $225.53

SBA Communications Corporation (NASDAQ:SBAC) has been given an average recommendation of “Hold” by the sixteen analysts that are covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $224.8667.

Several equities research analysts recently commented on SBAC shares. Citigroup reaffirmed a “market perform” rating on shares of SBA Communications in a research report on Tuesday, August 4th. The Goldman Sachs Group initiated coverage on SBA Communications in a research report on Friday, June 26th. They set a “neutral” rating and a $205.00 price objective for the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of SBA Communications in a research note on Monday, August 24th. Royal Bank Of Canada lowered their price objective 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. Finally, Wolfe Research upgraded shares of SBA Communications from a “hold” rating to an “outperform” rating in a report on Tuesday, August 4th.

Insider Activity at SBA Communications

In related news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total value of $54,801.00. Following the sale, the director owned 8,512 shares of the company’s stock, valued at approximately $1,554,887.04. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SBAC. QRG Capital Management Inc. increased its position in shares of SBA Communications by 4.5% during the 2nd quarter. QRG Capital Management Inc. now owns 3,109 shares of the technology company’s stock worth $549,000 after purchasing an additional 134 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of SBA Communications by 16.2% in the second quarter. Sequoia Financial Advisors LLC now owns 2,461 shares of the technology company’s stock valued at $434,000 after buying an additional 343 shares in the last quarter. National Pension Service grew its stake in shares of SBA Communications by 29.7% in the second quarter. National Pension Service now owns 9,999 shares of the technology company’s stock valued at $1,764,000 after buying an additional 2,291 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in SBA Communications by 212.9% during the second quarter. Integrated Wealth Concepts LLC now owns 4,800 shares of the technology company’s stock worth $847,000 after buying an additional 3,266 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in SBA Communications by 30.4% during the second quarter. NewEdge Advisors LLC now owns 6,412 shares of the technology company’s stock worth $1,131,000 after buying an additional 1,495 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $170.53 on Friday. The company has a market capitalization of $18.09 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The business has a 50-day moving average of $182.69 and a two-hundred day moving average of $192.60. SBA Communications has a 1 year low of $162.41 and a 1 year high of $224.46.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.02. The business had revenue of $715.27 million during 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%.SBA Communications’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.17 EPS. On average, equities analysts anticipate that SBA Communications will post 11.41 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.9%. The ex-dividend date was Thursday, August 20th. SBA Communications’s payout ratio is presently 53.88%.

About SBA Communications

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns and operates wireless communications infrastructure. The company provides the sites and facilities that wireless service providers use to support cellular networks, including traditional macro towers, small cells and distributed antenna systems.

SBA’s primary business is leasing space on its communications infrastructure to wireless carriers and other communications companies. It also develops, acquires and manages wireless sites, helping customers expand network coverage and capacity.