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

Shares of SBA Communications Corporation (NASDAQ:SBAC) have been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $232.1667.

Several research firms have weighed in on SBAC. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. UBS Group reduced their price target on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Wells Fargo & Company dropped 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 research note on Friday, February 27th. Barclays cut their price objective on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research report on Monday, December 1st. Finally, Sanford C. Bernstein started coverage on SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 target price on the stock.

SBA Communications Stock Performance

SBAC opened at $195.93 on Tuesday. The company has a market cap of $20.88 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.96 and a beta of 0.86. SBA Communications has a one year low of $177.49 and a one year high of $245.16. The business’s fifty day moving average is $191.20 and its two-hundred day moving average is $193.99.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $0.22. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The business had revenue of $719.58 million during the quarter, compared to analysts’ expectations of $725.80 million. During the same quarter last year, the business posted $3.47 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that SBA Communications will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $1.25 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 46.59%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC boosted its stake in shares of SBA Communications by 523.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after purchasing an additional 110 shares during the last quarter. Quent Capital LLC acquired a new position in shares of SBA Communications in the third quarter valued at approximately $27,000. DV Equities LLC purchased a new position in shares of SBA Communications during the fourth quarter valued at approximately $29,000. Fulcrum Asset Management LLP purchased a new position in shares of SBA Communications during the third quarter valued at approximately $32,000. Finally, Geneos Wealth Management Inc. boosted its position in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

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.