Morgan Stanley Cuts SBA Communications (NASDAQ:SBAC) Price Target to $215.00

SBA Communications (NASDAQ:SBAC) had its target price trimmed by Morgan Stanley from $225.00 to $215.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

A number of other equities research analysts have also weighed in on SBAC. Wells Fargo & Company decreased their price objective on shares of SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, February 27th. TD Cowen reaffirmed a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. Barclays lowered their price target on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st. JPMorgan Chase & Co. reduced their price objective on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Finally, BMO Capital Markets decreased their target price on SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

SBA Communications Stock Down 0.5%

SBAC opened at $196.43 on Monday. The business has a fifty day moving average of $191.01 and a 200 day moving average of $194.67. The stock has a market cap of $20.93 billion, a P/E ratio of 20.61, a PEG ratio of 1.94 and a beta of 0.86. SBA Communications has a 52-week low of $177.49 and a 52-week high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its earnings results 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 business had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.47 earnings per share. Equities analysts anticipate that SBA Communications will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $1.25 per share. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 46.59%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SBAC. MAI Capital Management lifted its stake in shares of SBA Communications by 7.9% during the 2nd quarter. MAI Capital Management now owns 680 shares of the technology company’s stock worth $160,000 after purchasing an additional 50 shares during the last quarter. Fortune Financial Advisors LLC lifted its position in shares of SBA Communications by 2.4% during the third quarter. Fortune Financial Advisors LLC now owns 2,237 shares of the technology company’s stock valued at $432,000 after buying an additional 53 shares during the last quarter. Prestige Wealth Management Group LLC boosted its holdings in shares of SBA Communications by 3.6% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,715 shares of the technology company’s stock valued at $332,000 after buying an additional 60 shares in the last quarter. Choreo LLC boosted its holdings in shares of SBA Communications by 1.1% in the 3rd quarter. Choreo LLC now owns 6,047 shares of the technology company’s stock valued at $1,169,000 after buying an additional 63 shares in the last quarter. Finally, Penserra Capital Management LLC grew its position in shares of SBA Communications by 12.5% in the 2nd quarter. Penserra Capital Management LLC now owns 587 shares of the technology company’s stock worth $137,000 after buying an additional 65 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

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.