SBA Communications (NASDAQ:SBAC) Sees Unusually-High Trading Volume – Should You Buy?

SBA Communications Corporation (NASDAQ:SBAC) saw unusually-high trading volume on Monday . Approximately 692,127 shares changed hands during trading, a decline of 32% from the previous session’s volume of 1,018,701 shares.The stock last traded at $211.61 and had previously closed at $204.04.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SBAC. Morgan Stanley cut their price target on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Truist Financial started coverage on shares of SBA Communications in a research note on Tuesday, March 31st. They issued a “hold” rating and a $193.00 price target for the company. Scotiabank lowered their price objective on shares of SBA Communications from $233.00 to $223.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. UBS Group lowered their price objective on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $231.42.

SBA Communications Trading Down 3.1%

The stock has a market capitalization of $21.78 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 2.02 and a beta of 0.88. The stock’s fifty day moving average price is $188.91 and its two-hundred day moving average price is $191.13.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.25 by $0.22. The firm had revenue of $719.58 million during the quarter, compared to analyst estimates 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 period in the previous year, the business posted $3.47 EPS. As a group, analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. SBA Communications’s payout ratio is presently 52.47%.

Institutional Trading of SBA Communications

Hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB grew its position in shares of SBA Communications by 5.4% in the 4th quarter. Nordea Investment Management AB now owns 1,245,399 shares of the technology company’s stock worth $241,234,000 after buying an additional 63,323 shares during the period. Aberdeen Group plc grew its position in shares of SBA Communications by 12.4% in the 4th quarter. Aberdeen Group plc now owns 202,452 shares of the technology company’s stock worth $39,160,000 after buying an additional 22,293 shares during the period. ProShare Advisors LLC grew its position in shares of SBA Communications by 27.5% in the 3rd quarter. ProShare Advisors LLC now owns 38,988 shares of the technology company’s stock worth $7,538,000 after buying an additional 8,404 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of SBA Communications by 24.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after buying an additional 366,491 shares during the period. Finally, Dodge & Cox grew its position in shares of SBA Communications by 12.3% in the 3rd quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after buying an additional 1,058,803 shares during the period. 97.35% of the stock is owned by hedge funds and other 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.