SBA Communications (NASDAQ:SBAC) Reaches New 1-Year Low – Time to Sell?

SBA Communications Corporation (NASDAQ:SBAC) hit a new 52-week low during trading on Monday. The stock traded as low as $162.21 and last traded at $162.8250, with a volume of 479576 shares changing hands. The stock had previously closed at $166.15.

Wall Street Analyst Weigh In

SBAC has been the topic of several recent research reports. UBS Group lowered shares of SBA Communications from a “market perform” rating to a “hold” rating in a research report on Monday, August 24th. Royal Bank Of Canada decreased their target price on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Barclays set a $207.00 price target on shares of SBA Communications in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of SBA Communications from $230.00 to $220.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Finally, Morgan Stanley lowered their target price on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Monday, September 21st. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $224.80.

SBA Communications Price Performance

The stock’s 50 day moving average price is $181.27 and its two-hundred day moving average price is $191.78. The firm has a market capitalization of $17.27 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.63 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) 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 net margin of 34.51% and a negative return on equity of 20.67%. SBA Communications’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $3.17 EPS. As a group, equities research analysts anticipate that SBA Communications Corporation will post 11.4 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 20th. SBA Communications’s dividend payout ratio (DPR) is currently 53.88%.

Insider Activity

In other 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 transaction, the director directly owned 8,512 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.50% of the company’s stock.

Institutional Trading of SBA Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of SBA Communications by 5.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 267,659 shares of the technology company’s stock valued at $46,067,000 after acquiring an additional 14,317 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of SBA Communications in the second quarter worth $1,011,000. Delta Global Management LP bought a new position in SBA Communications during the first quarter worth $2,162,000. Headlands Technologies LLC increased its position in SBA Communications by 303.5% during the second quarter. Headlands Technologies LLC now owns 8,728 shares of the technology company’s stock worth $1,540,000 after acquiring an additional 6,565 shares during the period. Finally, Greenland Capital Management LP acquired a new position in SBA Communications during the 2nd quarter valued at $2,294,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

About SBA Communications

SBA Communications Corporation is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftops, small-cell networks and distributed antenna systems used by wireless service providers, government agencies and other communications customers.

The company generates revenue mainly by leasing antenna space and related infrastructure to tenants, who install equipment used to provide wireless voice and data services.