SBA Communications Corporation (NASDAQ:SBAC) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of SBA Communications Corporation (NASDAQ:SBAC) have been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $224.64.

Several research firms have weighed in on SBAC. Wells Fargo & Company set a $200.00 target price on SBA Communications in a research report on Tuesday, November 3rd. Sanford C. Bernstein reduced their price target on shares of SBA Communications from $219.00 to $208.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 20th. Citigroup reissued a “market outperform” rating on shares of SBA Communications in a research note on Tuesday, November 3rd. Wolfe Research upgraded shares of SBA Communications from a “hold” rating to an “outperform” rating in a report on Tuesday, August 4th. Finally, TD Cowen upped their target price on shares of SBA Communications from $229.00 to $239.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd.

SBA Communications Price Performance

Shares of SBAC opened at $186.57 on Friday. The firm has a 50-day simple moving average of $179.85 and a two-hundred day simple moving average of $190.06. The stock has a market cap of $19.79 billion, a PE ratio of 15.30, a P/E/G ratio of 1.89 and a beta of 0.97. SBA Communications has a 1-year low of $156.60 and a 1-year high of $224.46.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $2.19 EPS for the quarter, topping the consensus estimate of $2.09 by $0.10. SBA Communications had a net margin of 34.54% and a negative return on equity of 20.67%. The firm had revenue of $713.92 million for the quarter, compared to analyst estimates of $724.07 million. During the same period in the prior year, the business posted $3.30 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that SBA Communications will post 11.46 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 12th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, November 12th. SBA Communications’s dividend payout ratio (DPR) is presently 53.94%.

Insider Buying and Selling

In related news, Director George R. Krouse, Jr. sold 300 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $182.67, for a total transaction of $54,801.00. Following the completion of the transaction, the director 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SBAC. Raiffeisen Bank International AG grew its position in shares of SBA Communications by 184.8% during the second quarter. Raiffeisen Bank International AG now owns 188 shares of the technology company’s stock worth $34,000 after acquiring an additional 122 shares during the last quarter. Provenance Wealth Advisors LLC purchased a new stake in shares of SBA Communications in the third quarter valued at about $36,000. CX Institutional boosted its stake in shares of SBA Communications by 44.2% during the second quarter. CX Institutional now owns 212 shares of the technology company’s stock worth $37,000 after buying an additional 65 shares during the period. Eastern Bank acquired a new stake in shares of SBA Communications during the second quarter worth about $44,000. Finally, Root Financial Partners LLC purchased a new position in shares of SBA Communications during the third quarter worth about $48,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Company Profile

SBA Communications is a real estate investment trust that owns and operates wireless communications infrastructure. Its primary business is leasing space on its communications towers and other sites to wireless carriers and other customers that need to install network equipment. The company also provides site development services, including helping customers identify, acquire, construct and manage locations for wireless infrastructure. Founded in 1989, SBA serves customers in the United States and several international markets, including countries in Central and South America and Africa.