SBA Communications Corporation (NASDAQ:SBAC) Given Average Rating of “Hold” by Brokerages

SBA Communications Corporation (NASDAQ:SBAC) has been assigned a consensus recommendation of “Hold” from the seventeen analysts that are covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $228.1250.

Several analysts recently weighed in on the company. TD Cowen restated a “buy” rating on shares of SBA Communications in a report on Tuesday. KeyCorp lifted their price objective on shares of SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Wolfe Research upgraded shares of SBA Communications from a “hold” rating to an “outperform” rating in a research report on Tuesday. The Goldman Sachs Group began coverage on shares of SBA Communications in a research note on Friday, June 26th. They issued a “neutral” rating and a $205.00 target price on the stock. Finally, Royal Bank Of Canada lowered their target price on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, July 10th.

Institutional Trading of SBA Communications

Several institutional investors and hedge funds have recently modified their holdings of the stock. J. Safra Sarasin Holding AG lifted its holdings in SBA Communications by 4.0% in the 1st quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock valued at $275,000 after purchasing an additional 62 shares in the last quarter. CX Institutional grew its holdings in shares of SBA Communications by 44.2% during the second quarter. CX Institutional now owns 212 shares of the technology company’s stock worth $37,000 after buying an additional 65 shares in the last quarter. Norinchukin Bank The raised its position in shares of SBA Communications by 1.1% in the third quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock valued at $1,167,000 after buying an additional 68 shares during the last quarter. GAMMA Investing LLC raised its position in shares of SBA Communications by 5.7% in the second quarter. GAMMA Investing LLC now owns 1,289 shares of the technology company’s stock valued at $227,000 after buying an additional 70 shares during the last quarter. Finally, Fortune Financial Advisors LLC raised its position in shares of SBA Communications by 3.3% in the fourth quarter. Fortune Financial Advisors LLC now owns 2,310 shares of the technology company’s stock valued at $447,000 after buying an additional 73 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $182.60 on Friday. The business’s 50 day moving average is $187.75 and its two-hundred day moving average is $194.47. SBA Communications has a 1-year low of $162.41 and a 1-year high of $225.33. The stock has a market capitalization of $19.37 billion, a P/E ratio of 19.68, a PEG ratio of 1.78 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $715.27 million for the quarter, compared to the consensus estimate of $706.01 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.17 earnings per share. As a group, equities research analysts anticipate that SBA Communications will post 11.42 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th will be issued a $1.25 dividend. The ex-dividend date is Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.7%. SBA Communications’s dividend payout ratio is presently 53.88%.

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.