SBA Communications Corporation (SBAC) – What Are Investment Firms Thinking About This Stock?

SBA Communications Corporation (NASDAQ:SBAC) has earned an average recommendation of “Hold” from the eighteen analysts that are presently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $227.20.

SBAC has been the subject of several research analyst reports. BMO Capital Markets restated a “market perform” rating on shares of SBA Communications in a report on Monday, August 24th. The Goldman Sachs Group began coverage on SBA Communications in a research report on Friday, June 26th. They set a “neutral” rating and a $205.00 target price on the stock. TD Cowen reiterated a “buy” rating on shares of SBA Communications in a research report on Tuesday, August 4th. Morgan Stanley reduced their target price on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Monday, September 21st. Finally, UBS Group cut SBA Communications from a “market perform” rating to a “hold” rating in a research report on Monday, August 24th.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $187.06 on Wednesday. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. The business has a 50-day moving average of $179.53 and a two-hundred day moving average of $191.46. SBA Communications has a 1 year low of $156.60 and a 1 year high of $224.46.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%. The business had revenue of $715.27 million during the quarter, compared to analysts’ expectations of $706.01 million. During the same period in the prior year, the firm posted $3.17 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that SBA Communications will post 11.40 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th were given a dividend of $1.25 per share. The ex-dividend date was 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 (DPR) is 53.88%.

Insider Activity at SBA Communications

In other news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction on Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the transaction, the director directly owned 8,512 shares of the company’s stock, valued at $1,554,887.04. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SBAC. Raiffeisen Bank International AG raised its position in SBA Communications by 184.8% during the 2nd quarter. Raiffeisen Bank International AG now owns 188 shares of the technology company’s stock worth $34,000 after buying an additional 122 shares during the last quarter. CX Institutional boosted its holdings in shares of SBA Communications by 44.2% in the second quarter. CX Institutional now owns 212 shares of the technology company’s stock valued at $37,000 after acquiring an additional 65 shares in the last quarter. Eastern Bank purchased a new stake in shares of SBA Communications in the second quarter valued at about $44,000. IFP Advisors Inc increased its stake in shares of SBA Communications by 392.0% during the second quarter. IFP Advisors Inc now owns 369 shares of the technology company’s stock worth $65,000 after acquiring an additional 294 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new position in shares of SBA Communications during the second quarter worth about $68,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Company Profile

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company’s portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.