Analysts Set SBA Communications Corporation (NASDAQ:SBAC) Target Price at $237.00

Shares of SBA Communications Corporation (NASDAQ:SBAC) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $233.5882.

SBAC has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Cowen reiterated a “buy” rating on shares of SBA Communications in a research note on Tuesday, November 4th. UBS Group set a $233.00 target price on shares of SBA Communications in a research note on Wednesday. Williams Trading set a $237.00 price target on shares of SBA Communications in a research note on Tuesday, November 4th. Finally, Barclays decreased their price objective on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $192.06 on Monday. SBA Communications has a 52-week low of $179.89 and a 52-week high of $245.16. The firm has a market capitalization of $20.46 billion, a PE ratio of 25.04, a P/E/G ratio of 1.66 and a beta of 0.87. The stock has a 50-day simple moving average of $192.08 and a two-hundred day simple moving average of $203.90.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. The business had revenue of $732.33 million for the quarter, compared to analysts’ expectations of $715.65 million. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $3.32 earnings per share. Equities analysts forecast that SBA Communications will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were given a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio is presently 57.89%.

Hedge Funds Weigh In On SBA Communications

A number of large investors have recently bought and sold shares of SBAC. Vanguard Group Inc. boosted its holdings in SBA Communications by 2.3% in the third quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after acquiring an additional 403,285 shares in the last quarter. Dodge & Cox increased its holdings in shares of SBA Communications by 12.3% during the third quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock valued at $1,869,172,000 after acquiring an additional 1,058,803 shares in the last quarter. State Street Corp boosted its stake in SBA Communications by 3.0% in the 3rd quarter. State Street Corp now owns 4,752,877 shares of the technology company’s stock worth $918,969,000 after purchasing an additional 139,696 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in SBA Communications by 24.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after purchasing an additional 366,491 shares in the last quarter. Finally, Invesco Ltd. grew its position in SBA Communications by 14.7% during the 3rd quarter. Invesco Ltd. now owns 1,805,376 shares of the technology company’s stock worth $349,069,000 after purchasing an additional 231,838 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

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.