Brokerages Set SBA Communications Co. (NASDAQ:SBAC) PT at $252.17

Shares of SBA Communications Co. (NASDAQ:SBAC) have received an average rating of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $252.17.

SBAC has been the topic of a number of analyst reports. Barclays reduced their price target on SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. TD Cowen decreased their price target on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Wells Fargo & Company dropped their price objective on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Citigroup decreased their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada dropped their target price on SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. acquired a new position in SBA Communications in the third quarter valued at $422,000. Aviva PLC raised its stake in SBA Communications by 40.5% during the 3rd quarter. Aviva PLC now owns 95,680 shares of the technology company’s stock valued at $19,152,000 after acquiring an additional 27,599 shares during the last quarter. Rafferty Asset Management LLC lifted its position in SBA Communications by 5.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 12,109 shares of the technology company’s stock worth $2,424,000 after acquiring an additional 600 shares during the period. QRG Capital Management Inc. purchased a new position in shares of SBA Communications in the 3rd quarter valued at approximately $926,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of SBA Communications in the third quarter valued at approximately $2,951,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $191.19 on Friday. The stock has a market capitalization of $20.54 billion, a PE ratio of 37.49, a PEG ratio of 0.62 and a beta of 0.65. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76. The stock has a fifty day simple moving average of $195.75 and a 200-day simple moving average of $216.62.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The company had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. During the same period in the previous year, the company posted $3.13 EPS. SBA Communications’s revenue was down 2.6% compared to the same quarter last year. On average, equities analysts predict that SBA Communications will post 12.52 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be given a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.05%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.