SBA Communications Corporation (NASDAQ:SBAC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

SBA Communications Corporation (NASDAQ:SBAC) has received an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $235.1765.

A number of research firms have recently weighed in on SBAC. Royal Bank Of Canada lowered their price target on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Citigroup decreased their target price on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. Wells Fargo & Company reduced their price target on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. Finally, Williams Trading set a $237.00 price objective on SBA Communications in a report on Tuesday, November 4th.

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of SBA Communications by 3.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,706 shares of the technology company’s stock worth $42,202,000 after purchasing an additional 5,246 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in SBA Communications by 58.2% in the 2nd quarter. Impax Asset Management Group plc now owns 5,501 shares of the technology company’s stock worth $1,292,000 after buying an additional 2,023 shares during the last quarter. Donoghue Forlines LLC purchased a new stake in SBA Communications during the 2nd quarter worth approximately $2,824,000. SteelPeak Wealth LLC purchased a new stake in SBA Communications during the 3rd quarter worth approximately $2,618,000. Finally, Diamond Hill Capital Management Inc. raised its holdings in shares of SBA Communications by 24.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock valued at $358,728,000 after acquiring an additional 366,491 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

SBAC opened at $199.29 on Friday. The business’s 50-day moving average is $188.79 and its two-hundred day moving average is $197.20. SBA Communications has a 1 year low of $177.49 and a 1 year high of $245.16. The firm has a market capitalization of $21.23 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87.

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.