SBA Communications Corporation (NASDAQ:SBAC) Receives $233.00 Consensus PT from Analysts

SBA Communications Corporation (NASDAQ:SBAC) has received an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $232.1667.

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reduced 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, February 27th. Scotiabank dropped their price target on SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a research report on Monday. Morgan Stanley reduced their price objective on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday. Sanford C. Bernstein began coverage on SBA Communications in a research report on Thursday. They set a “market perform” rating and a $218.00 price objective for the company. Finally, Royal Bank Of Canada boosted their target price on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a report on Monday.

SBA Communications Trading Down 0.4%

SBAC stock opened at $195.69 on Tuesday. The company has a market capitalization of $20.85 billion, a P/E ratio of 20.53, a PEG ratio of 1.95 and a beta of 0.86. The business has a 50 day simple moving average of $191.07 and a 200-day simple moving average of $194.68. SBA Communications has a twelve month low of $177.49 and a twelve month high of $245.16.

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

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $5.00 annualized dividend and a yield of 2.6%. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. SBA Communications’s dividend payout ratio is presently 46.59%.

Institutional Trading of SBA Communications

Several hedge funds have recently made changes to their positions in the company. MAI Capital Management increased its stake in shares of SBA Communications by 7.9% during the second quarter. MAI Capital Management now owns 680 shares of the technology company’s stock worth $160,000 after acquiring an additional 50 shares during the period. Fortune Financial Advisors LLC boosted its holdings in SBA Communications by 2.4% in the 3rd quarter. Fortune Financial Advisors LLC now owns 2,237 shares of the technology company’s stock valued at $432,000 after purchasing an additional 53 shares in the last quarter. Prestige Wealth Management Group LLC boosted its holdings in SBA Communications by 3.6% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,715 shares of the technology company’s stock valued at $332,000 after purchasing an additional 60 shares in the last quarter. Choreo LLC increased its position in SBA Communications by 1.1% during the 3rd quarter. Choreo LLC now owns 6,047 shares of the technology company’s stock worth $1,169,000 after purchasing an additional 63 shares during the period. Finally, Penserra Capital Management LLC raised its stake in shares of SBA Communications by 12.5% during the 2nd quarter. Penserra Capital Management LLC now owns 587 shares of the technology company’s stock worth $137,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds 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.