Analysts Set SBA Communications Corporation (NASDAQ:SBAC) Target Price at $237.74

Shares of SBA Communications Corporation (NASDAQ:SBAC) have been given an average rating of “Moderate Buy” by the eighteen research firms that are covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $237.2222.

A number of equities analysts have issued reports on the company. KeyCorp lifted their price target on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Morgan Stanley lifted their price target on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Sanford C. Bernstein started coverage on SBA Communications in a research note on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target for the company. Finally, Royal Bank Of Canada lifted their price objective on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd.

SBA Communications Price Performance

Shares of SBAC opened at $208.07 on Friday. The stock has a 50-day moving average of $202.08 and a 200-day moving average of $195.67. The company has a market cap of $22.07 billion, a PE ratio of 21.90, a P/E/G ratio of 2.07 and a beta of 1.03. SBA Communications has a one year low of $162.41 and a one year high of $243.16.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.22. SBA Communications had a net margin of 35.66% and a negative return on equity of 20.90%. The business had revenue of $719.58 million during the quarter, compared to the consensus estimate of $725.80 million. During the same quarter last year, the firm posted $3.47 EPS. SBA Communications’s revenue was up 3.7% compared to the same quarter last year. Analysts expect that SBA Communications will post 11.42 EPS for the current fiscal year.

SBA Communications Dividend Announcement

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

Hedge Funds Weigh In On SBA Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Elevation Wealth Partners LLC lifted its stake in 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 purchasing an additional 110 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of SBA Communications in the third quarter worth $27,000. DV Equities LLC purchased a new stake in shares of SBA Communications in the fourth quarter worth $29,000. Fulcrum Asset Management LLP purchased a new stake in SBA Communications in the third quarter valued at approximately $32,000. Finally, Geneos Wealth Management Inc. raised its stake in SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares in the last quarter. 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.