SBA Communications (NASDAQ:SBAC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of SBA Communications (NASDAQ:SBAC – Get Rating) in a research report released on Thursday. The firm issued a hold rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. Truist Financial decreased their price target on shares of SBA Communications from $400.00 to $350.00 and set a buy rating on the stock in a research note on Friday, January 13th. Raymond James lifted their price target on shares of SBA Communications from $308.00 to $334.00 and gave the stock a strong-buy rating in a research note on Wednesday, November 23rd. Wells Fargo & Company lifted their price target on shares of SBA Communications from $300.00 to $340.00 in a research note on Wednesday, December 14th. Credit Suisse Group decreased their price target on shares of SBA Communications from $346.00 to $330.00 and set an outperform rating on the stock in a research note on Wednesday, February 22nd. Finally, Barclays decreased their price target on shares of SBA Communications from $336.00 to $330.00 and set an overweight rating on the stock in a research note on Wednesday, February 22nd. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications has a consensus rating of Moderate Buy and a consensus price target of $335.40.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $255.98 on Thursday. SBA Communications has a 1 year low of $236.20 and a 1 year high of $379.99. The firm has a market cap of $27.66 billion, a PE ratio of 60.80 and a beta of 0.49. The company has a 50 day simple moving average of $279.33 and a two-hundred day simple moving average of $284.07.

SBA Communications (NASDAQ:SBAC – Get Rating) last announced its earnings results on Tuesday, February 21st. The technology company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($1.94). SBA Communications had a net margin of 17.52% and a negative return on equity of 8.58%. The company had revenue of $686.10 million for the quarter, compared to the consensus estimate of $681.40 million. During the same quarter in the previous year, the firm earned $2.81 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, research analysts anticipate that SBA Communications will post 11.74 earnings per share for the current year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be given a dividend of $0.85 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.71. This represents a $3.40 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, March 9th. SBA Communications’s payout ratio is presently 80.76%.

Institutional Trading of SBA Communications

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of SBA Communications by 1.9% during the 3rd quarter. BlackRock Inc. now owns 9,673,900 shares of the technology company’s stock valued at $2,753,678,000 after buying an additional 177,089 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of SBA Communications by 13.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 3,396,193 shares of the technology company’s stock valued at $966,729,000 after buying an additional 407,347 shares in the last quarter. FMR LLC boosted its holdings in shares of SBA Communications by 37.5% during the 2nd quarter. FMR LLC now owns 2,875,067 shares of the technology company’s stock valued at $920,165,000 after buying an additional 783,686 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of SBA Communications by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,481,744 shares of the technology company’s stock valued at $694,533,000 after buying an additional 47,633 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of SBA Communications by 66.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,189,323 shares of the technology company’s stock valued at $613,689,000 after buying an additional 874,947 shares in the last quarter. Institutional investors own 93.54% of the company’s stock.

SBA Communications Company Profile

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SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.