Analysts Set SBA Communications Corporation (NASDAQ:SBAC) PT at $236.39

SBA Communications Corporation (NASDAQ:SBAC) has received a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $235.8333.

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a research note on Friday, June 26th. They set a “neutral” rating and a $205.00 price target on the stock. Truist Financial reissued a “buy” rating and set a $248.00 target price (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. Scotiabank increased their target price on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Finally, KeyCorp raised their price target on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th.

SBA Communications Stock Up 4.1%

SBAC traded up $7.55 during trading hours on Monday, hitting $190.03. The stock had a trading volume of 1,443,799 shares, compared to its average volume of 1,034,810. SBA Communications has a 1 year low of $162.41 and a 1 year high of $243.16. The company’s fifty day simple moving average is $198.45 and its 200 day simple moving average is $195.62. The stock has a market cap of $20.15 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.82 and a beta of 1.00.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, May 22nd. SBA Communications’s payout ratio is presently 52.63%.

Institutional Investors Weigh In On SBA Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. Elevation Wealth Partners LLC boosted its position in shares of SBA Communications by 523.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after acquiring an additional 110 shares during the period. DV Equities LLC bought a new stake in SBA Communications during the 4th quarter worth approximately $29,000. Fulcrum Asset Management LLP purchased a new stake in SBA Communications in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. lifted its stake in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares in the last quarter. Finally, CX Institutional boosted its holdings in SBA Communications by 44.2% in the 2nd quarter. CX Institutional now owns 212 shares of the technology company’s stock valued at $37,000 after purchasing an additional 65 shares during the period. 97.35% of the stock is currently owned by institutional investors.

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.