Brokerages Set SBA Communications Corporation (NASDAQ:SBAC) PT at $236.39

Shares of SBA Communications Corporation (NASDAQ:SBAC) have been assigned a consensus rating of “Moderate Buy” from the eighteen analysts that are currently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $235.8333.

SBAC has been the topic of several research reports. The Goldman Sachs Group began coverage on shares of SBA Communications in a report on Friday, June 26th. They set a “neutral” rating and a $205.00 price objective on the stock. Morgan Stanley increased their target price on shares of SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Truist Financial restated a “buy” rating and set a $248.00 price target (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Scotiabank raised their price objective on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Barclays increased their price objective on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th.

SBA Communications Stock Performance

Shares of SBAC stock opened at $190.03 on Monday. SBA Communications has a 1 year low of $162.41 and a 1 year high of $243.16. The firm’s fifty day simple moving average is $198.45 and its 200 day simple moving average is $195.66. The firm has a market capitalization of $20.15 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.90 and a beta of 1.00.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were paid a $1.25 dividend. The ex-dividend date was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.6%. SBA Communications’s dividend payout ratio (DPR) is 52.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. Dodge & Cox lifted its position in shares of SBA Communications by 24.1% during the fourth quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock worth $2,320,412,000 after purchasing an additional 2,328,837 shares in the last quarter. Norges Bank acquired a new position in shares of SBA Communications in the 4th quarter valued at $302,774,000. Arrowstreet Capital Limited Partnership increased its stake in shares of SBA Communications by 256.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,092,612 shares of the technology company’s stock valued at $211,344,000 after acquiring an additional 785,850 shares during the last quarter. Millennium Management LLC increased its stake in SBA Communications by 171.8% in the fourth quarter. Millennium Management LLC now owns 811,543 shares of the technology company’s stock valued at $156,977,000 after purchasing an additional 513,002 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in SBA Communications by 36.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,267,351 shares of the technology company’s stock worth $245,043,000 after buying an additional 336,071 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

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.