SBA Communications (NASDAQ:SBAC) Stock Price Up 13.4% – What’s Next?

Shares of SBA Communications Corporation (NASDAQ:SBAC) traded up 13.4% during trading on Thursday . The company traded as high as $176.93 and last traded at $194.5330. 524,666 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 931,572 shares. The stock had previously closed at $171.56.

Analyst Ratings Changes

SBAC has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of SBA Communications from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. JPMorgan Chase & Co. lowered their target price on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Scotiabank cut their target price on shares of SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Morgan Stanley reduced their price target on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. Finally, Truist Financial assumed coverage on shares of SBA Communications in a research report on Tuesday. They issued a “hold” rating and a $193.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, SBA Communications currently has an average rating of “Hold” and a consensus price target of $230.11.

SBA Communications Stock Performance

The company has a 50-day moving average of $187.32 and a 200-day moving average of $190.97. The firm has a market capitalization of $20.72 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.71 and a beta of 0.88.

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

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $5.00 annualized dividend and a yield of 2.6%. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. SBA Communications’s payout ratio is presently 52.47%.

Hedge Funds Weigh In On SBA Communications

Large investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its holdings in shares of SBA Communications by 523.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after purchasing an additional 110 shares in the last quarter. Quent Capital LLC acquired a new stake in SBA Communications in the 3rd quarter valued at approximately $27,000. DV Equities LLC acquired a new stake in SBA Communications in the 4th quarter valued at approximately $29,000. Fulcrum Asset Management LLP bought a new stake in SBA Communications in the 3rd quarter valued at approximately $32,000. Finally, Geneos Wealth Management Inc. lifted its stake in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares in the last quarter. 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.