Brokerages Set SBA Communications Corporation (NASDAQ:SBAC) PT at $225.81

SBA Communications Corporation (NASDAQ:SBAC) has been assigned an average recommendation of “Hold” from the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $225.5333.

A number of analysts have recently weighed in on SBAC shares. Royal Bank Of Canada cut their price target on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, July 10th. UBS Group downgraded shares of SBA Communications from a “market perform” rating to a “hold” rating in a research report on Monday, August 24th. BMO Capital Markets restated a “market perform” rating on shares of SBA Communications in a research note on Monday, August 24th. Wolfe Research upgraded SBA Communications from a “hold” rating to an “outperform” rating in a research note on Tuesday, August 4th. Finally, The Goldman Sachs Group initiated coverage on SBA Communications in a report on Friday, June 26th. They issued a “neutral” rating and a $205.00 target price on the stock.

SBA Communications Stock Performance

SBAC opened at $190.95 on Tuesday. The firm has a market cap of $20.26 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 1.91 and a beta of 0.99. SBA Communications has a 52-week low of $162.41 and a 52-week high of $224.46. The business’s fifty day moving average is $182.82 and its 200-day moving average is $194.31.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, August 3rd. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The company had revenue of $715.27 million for the quarter, compared to analysts’ expectations of $706.01 million. During the same quarter last year, the business earned $3.17 earnings per share. SBA Communications’s revenue was up 2.3% on a year-over-year basis. On average, research analysts predict that SBA Communications will post 11.41 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 20th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Thursday, August 20th. SBA Communications’s dividend payout ratio is currently 53.88%.

Insiders Place Their Bets

In other SBA Communications news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total value of $54,801.00. Following the transaction, the director owned 8,512 shares in the company, valued at $1,554,887.04. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its stake in shares of SBA Communications by 15,128.8% in the 2nd quarter. California State Teachers Retirement System now owns 25,946,855 shares of the technology company’s stock valued at $4,578,582,000 after acquiring an additional 25,776,475 shares during the last quarter. Dodge & Cox boosted its stake 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 valued at $2,320,412,000 after purchasing an additional 2,328,837 shares in the last quarter. State Street Corp grew its holdings in shares of SBA Communications by 3.3% during the fourth quarter. State Street Corp now owns 4,911,615 shares of the technology company’s stock worth $950,054,000 after purchasing an additional 158,738 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of SBA Communications by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock worth $594,655,000 after purchasing an additional 16,153 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of SBA Communications by 9.7% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock valued at $393,615,000 after buying an additional 179,591 shares during the period. Institutional investors 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.