SBA Communications (NASDAQ:SBAC) Hits New 52-Week Low – Here’s What Happened

SBA Communications Corporation (NASDAQ:SBAC) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $184.13 and last traded at $183.6850, with a volume of 168543 shares traded. The stock had previously closed at $188.12.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th. The Goldman Sachs Group lowered their price target on SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Royal Bank Of Canada dropped their price target on SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Williams Trading set a $237.00 price objective on shares of SBA Communications in a report on Tuesday, November 4th. Finally, UBS Group decreased their price target on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $237.00.

SBA Communications Price Performance

The firm has a fifty day moving average of $193.07 and a two-hundred day moving average of $205.73. The stock has a market capitalization of $19.42 billion, a P/E ratio of 23.76, a P/E/G ratio of 1.65 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The firm had revenue of $732.33 million during the quarter, compared to analysts’ expectations of $715.65 million. During the same period in the prior year, the business posted $3.32 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 13th were paid a $1.11 dividend. The ex-dividend date was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.4%. SBA Communications’s dividend payout ratio (DPR) is 57.89%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SBAC. CVA Family Office LLC lifted its stake in SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after buying an additional 67 shares in the last quarter. Quent Capital LLC acquired a new position in SBA Communications during the third quarter worth about $27,000. Geneos Wealth Management Inc. grew its stake in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in SBA Communications in the 3rd quarter valued at about $32,000. Finally, IFP Advisors Inc lifted its stake in SBA Communications by 75.9% in the 2nd quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock worth $55,000 after purchasing an additional 101 shares in the last quarter. 97.35% of the stock is currently 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.