Royal Bank Of Canada Raises SBA Communications (NASDAQ:SBAC) Price Target to $220.00

SBA Communications (NASDAQ:SBAC) had its price target boosted by equities research analysts at Royal Bank Of Canada from $215.00 to $220.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 9.30% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Scotiabank decreased their price target on shares of SBA Communications from $252.00 to $233.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 14th. BMO Capital Markets dropped their price objective on SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. TD Cowen reiterated a “buy” rating on shares of SBA Communications in a research note on Tuesday, November 4th. Wells Fargo & Company lowered their target price on shares of SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average target price of $233.88.

SBA Communications Stock Up 0.1%

NASDAQ:SBAC traded up $0.12 on Monday, reaching $201.28. The company’s stock had a trading volume of 415,095 shares, compared to its average volume of 904,153. SBA Communications has a 12-month low of $177.49 and a 12-month high of $245.16. The stock has a 50 day moving average price of $190.66 and a 200 day moving average price of $194.95. The firm has a market cap of $21.45 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.86.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.22. The business had revenue of $719.58 million for the quarter, compared to analysts’ expectations of $725.80 million. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.47 earnings per share. Equities research analysts expect that SBA Communications will post 12.57 EPS for the current fiscal year.

Institutional Investors Weigh In On SBA Communications

Several large investors have recently modified their holdings of the stock. Kera Capital Partners Inc. grew its holdings in SBA Communications by 124.0% during the fourth quarter. Kera Capital Partners Inc. now owns 3,448 shares of the technology company’s stock worth $635,000 after acquiring an additional 1,909 shares during the period. Invesco Ltd. boosted its position in shares of SBA Communications by 0.5% during the 4th quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company’s stock worth $351,082,000 after purchasing an additional 9,656 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of SBA Communications by 599.6% during the 4th quarter. Corient Private Wealth LLC now owns 108,001 shares of the technology company’s stock worth $20,891,000 after purchasing an additional 92,564 shares during the period. Alpine Woods Capital Investors LLC increased its holdings in shares of SBA Communications by 15.8% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 29,648 shares of the technology company’s stock valued at $5,735,000 after purchasing an additional 4,046 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of SBA Communications by 45.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,612 shares of the technology company’s stock valued at $3,213,000 after purchasing an additional 5,183 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

About SBA Communications

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.