SBA Communications Co. (NASDAQ:SBAC) Receives $241.75 Average Target Price from Analysts

Shares of SBA Communications Co. (NASDAQ:SBAC) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $244.08.

SBAC has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. KeyCorp raised their target price on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. TD Cowen cut their price target on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada upped their target price on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th.

SBA Communications Trading Down 1.3 %

Shares of NASDAQ:SBAC opened at $236.26 on Tuesday. The stock has a market capitalization of $25.38 billion, a PE ratio of 46.27, a P/E/G ratio of 0.73 and a beta of 0.67. SBA Communications has a 1 year low of $183.64 and a 1 year high of $258.76. The firm has a fifty day moving average price of $225.81 and a 200 day moving average price of $209.68.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. During the same quarter last year, the company posted $3.24 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that SBA Communications will post 12.53 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.66%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The disclosure for this sale can be found here. Insiders have sold a total of 51,590 shares of company stock valued at $11,483,981 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SBA Communications

Institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new position in shares of SBA Communications in the second quarter valued at about $932,000. Clear Rock Advisors LLC raised its stake in shares of SBA Communications by 13.8% in the second quarter. Clear Rock Advisors LLC now owns 9,043 shares of the technology company’s stock worth $1,775,000 after acquiring an additional 1,099 shares during the last quarter. Long Pond Capital LP acquired a new position in shares of SBA Communications during the second quarter worth approximately $83,687,000. The Manufacturers Life Insurance Company lifted its position in shares of SBA Communications by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 85,515 shares of the technology company’s stock worth $16,787,000 after purchasing an additional 2,999 shares in the last quarter. Finally, MBB Public Markets I LLC bought a new stake in shares of SBA Communications during the second quarter valued at approximately $1,702,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

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.