SBA Communications (NASDAQ:SBAC) Share Price Breaks Above Two Hundred Day Moving Average on Analyst Downgrade

SBA Communications Corporation (NASDAQ:SBAC) shares passed above its 200-day moving average during trading on Wednesday after TD Cowen raised their price target on the stock from $229.00 to $239.00. The stock has a 200-day moving average of $189.99 and traded as high as $200.73. TD Cowen currently has a buy rating on the stock. SBA Communications shares last traded at $195.48, with a volume of 2,235,486 shares traded.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. cut their price target on SBA Communications from $230.00 to $220.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. Jefferies Financial Group raised SBA Communications to a “hold” rating in a research note on Thursday, October 15th. Wells Fargo & Company set a $200.00 price objective on shares of SBA Communications in a report on Tuesday. Morgan Stanley dropped their price objective on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Monday, September 21st. Finally, Barclays cut their target price on shares of SBA Communications from $208.00 to $207.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 30th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $224.64.

Insider Buying and Selling

In other SBA Communications 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 transaction of $54,801.00. Following the transaction, the director directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.50% of the company’s stock.

Key SBA Communications News

Here are the key news stories impacting SBA Communications this week:

• Positive Sentiment: Third-quarter FFO beat estimates, supported by international leasing growth. The company also reported EPS of $2.19, above the $2.09 consensus estimate. These results and signs of durable growth may have helped lift sentiment. Article: SBAC Q3 FFO Top Estimates on International Leasing Gains
• Positive Sentiment: SBA declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a stated yield of about 2.7%, offering income support for shareholders.
• Neutral Sentiment: Analyst views remain divided: TD Cowen raised its target to $239 and kept a Buy rating, while Truist and Citi reduced their targets but maintained Buy ratings. JPMorgan cut its target to $200 and assigned a Neutral rating; BMO and Morgan Stanley also maintained Hold/Neutral views. Article: SBA Communications Maintained at Hold
• Negative Sentiment: Third-quarter revenue of $713.9 million fell short of the roughly $724 million estimate and declined 2.5% year over year. Domestic leasing weakness and churn weighed on results, while 2026 revenue guidance of $2.8 billion–$2.9 billion came in below the $2.9 billion consensus at the midpoint, tempering the growth outlook.

Hedge Funds Weigh In On SBA Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raiffeisen Bank International AG boosted its position in shares of SBA Communications by 184.8% during the 2nd quarter. Raiffeisen Bank International AG now owns 188 shares of the technology company’s stock valued at $34,000 after purchasing an additional 122 shares in the last quarter. CX Institutional grew its stake in SBA Communications by 44.2% during the second quarter. CX Institutional now owns 212 shares of the technology company’s stock worth $37,000 after purchasing an additional 65 shares during the period. Provenance Wealth Advisors LLC acquired a new stake in SBA Communications during the third quarter worth approximately $36,000. Eastern Bank bought a new stake in SBA Communications in the second quarter worth approximately $44,000. Finally, Root Financial Partners LLC bought a new stake in SBA Communications in the third quarter worth approximately $48,000. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Up 5.8%

The company has a 50 day simple moving average of $179.61 and a 200-day simple moving average of $189.99. The stock has a market capitalization of $20.74 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 1.85 and a beta of 0.97.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, November 2nd. The technology company reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.10. The firm had revenue of $713.92 million for the quarter, compared to analysts’ expectations of $724.07 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.54%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.30 EPS. As a group, sell-side analysts anticipate that SBA Communications Corporation will post 11.40 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 12th will be paid a $1.25 dividend. The ex-dividend date is Thursday, November 12th. This represents a $5.00 annualized dividend and a dividend yield of 2.6%. SBA Communications’s dividend payout ratio (DPR) is currently 53.88%.

About SBA Communications

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company’s portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.