SBA Communications Corporation (NASDAQ:SBAC) Stock Has Average Price Target of $227.69 According to Brokerages

SBA Communications Corporation (NASDAQ:SBAC) has been given an average recommendation of “Hold” by the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $227.20.

A number of research firms recently issued reports on SBAC. UBS Group cut shares of SBA Communications from a “market perform” rating to a “hold” rating in a research report on Monday, August 24th. Citigroup reissued a “market perform” rating on shares of SBA Communications in a research note on Tuesday, August 4th. BMO Capital Markets restated a “market perform” rating on shares of SBA Communications in a research report on Monday, August 24th. Weiss Ratings raised shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Finally, Wells Fargo & Company raised shares of SBA Communications from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $220.00 to $210.00 in a research note on Friday, July 17th.

SBA Communications Trading Up 1.8%

Shares of SBA Communications stock opened at $187.06 on Wednesday. The company has a 50 day moving average of $179.53 and a 200-day moving average of $191.31. SBA Communications has a 1-year low of $156.60 and a 1-year high of $224.46. The company has a market cap of $19.85 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.84 and a beta of 1.00.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.02. The business had revenue of $715.27 million for the quarter, compared to analyst estimates of $706.01 million. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $3.17 EPS. Research analysts forecast that SBA Communications will post 11.40 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 20th. SBA Communications’s dividend payout ratio (DPR) is presently 53.88%.

Insider Buying and Selling at SBA Communications

In other news, Director George R. Krouse, Jr. sold 300 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the sale, the director directly owned 8,512 shares in the company, valued at approximately $1,554,887.04. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC raised its stake in shares of SBA Communications by 15.0% during the third quarter. V Square Quantitative Management LLC now owns 3,756 shares of the technology company’s stock valued at $601,000 after acquiring an additional 491 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of SBA Communications by 3.0% in the third quarter. Central Pacific Bank Trust Division now owns 3,425 shares of the technology company’s stock worth $548,000 after purchasing an additional 100 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of SBA Communications by 4.5% in the second quarter. QRG Capital Management Inc. now owns 3,109 shares of the technology company’s stock worth $549,000 after purchasing an additional 134 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of SBA Communications by 16.2% in the second quarter. Sequoia Financial Advisors LLC now owns 2,461 shares of the technology company’s stock worth $434,000 after purchasing an additional 343 shares during the last quarter. Finally, National Pension Service increased its holdings in SBA Communications by 29.7% in the second quarter. National Pension Service now owns 9,999 shares of the technology company’s stock valued at $1,764,000 after purchasing an additional 2,291 shares during the period. Institutional investors own 97.35% of the company’s stock.

About SBA Communications

SBA Communications Corporation is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftops, small-cell networks and distributed antenna systems used by wireless service providers, government agencies and other communications customers.

The company generates revenue mainly by leasing antenna space and related infrastructure to tenants, who install equipment used to provide wireless voice and data services.