SBA Communications Corporation (NASDAQ:SBAC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of SBA Communications Corporation (NASDAQ:SBAC) have earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $237.2222.

SBAC has been the topic of a number of recent analyst reports. Scotiabank upped their target price on shares of SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Barclays increased their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Truist Financial reiterated a “buy” rating and set a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Sanford C. Bernstein began coverage on shares of SBA Communications in a research note on Thursday, March 5th. They set a “market perform” rating and a $218.00 price objective on the stock. Finally, Royal Bank Of Canada increased their price objective on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd.

Institutional Investors Weigh In On SBA Communications

Several institutional investors and hedge funds have recently bought and sold shares of SBAC. Elevation Wealth Partners LLC raised its stake in SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after acquiring an additional 110 shares during the period. Quent Capital LLC acquired a new stake in SBA Communications during the third quarter worth about $27,000. DV Equities LLC acquired a new stake in SBA Communications during the fourth quarter worth about $29,000. Fulcrum Asset Management LLP acquired a new stake in SBA Communications during the third quarter worth about $32,000. Finally, Geneos Wealth Management Inc. raised its stake in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $205.57 on Friday. The firm has a market cap of $21.80 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03. The firm’s 50-day simple moving average is $202.42 and its 200-day simple moving average is $195.74. SBA Communications has a 1 year low of $162.41 and a 1 year high of $243.16.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.25 by $0.22. The business had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. SBA Communications had a net margin of 35.66% and a negative return on equity of 20.90%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.47 EPS. On average, equities analysts predict that SBA Communications will post 11.42 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 22nd will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 2.4%. SBA Communications’s dividend payout ratio is 52.63%.

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.