SBA Communications Corporation (NASDAQ:SBAC) Stock Now Rated “Hold” by Wall Street Analysts

SBA Communications Corporation (NASDAQ:SBAC) has been assigned a consensus rating of “Hold” from the eighteen research firms that are currently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $226.53.

Several analysts have recently weighed in on SBAC shares. Wells Fargo & Company upgraded SBA Communications from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $220.00 to $210.00 in a research note on Friday, July 17th. Barclays dropped their target price on SBA Communications from $208.00 to $207.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 30th. The Goldman Sachs Group began coverage on SBA Communications in a research note on Friday, June 26th. They issued a “neutral” rating and a $205.00 price target on the stock. Wolfe Research raised SBA Communications from a “hold” rating to an “outperform” rating in a report on Tuesday, August 4th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of SBA Communications in a report on Monday, August 24th.

Insider Activity

In other news, Director George R. Krouse, Jr. sold 300 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the completion of the transaction, the director directly owned 8,512 shares in the company, valued at approximately $1,554,887.04. This represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.50% of the stock is currently owned by insiders.

Institutional Trading of SBA Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in SBAC. J. Safra Sarasin Holding AG boosted its position in shares of SBA Communications by 4.0% during the first quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock worth $275,000 after buying an additional 62 shares during the period. CX Institutional increased its position in SBA Communications by 44.2% in the 2nd quarter. CX Institutional now owns 212 shares of the technology company’s stock valued at $37,000 after acquiring an additional 65 shares during the period. GAMMA Investing LLC increased its position in SBA Communications by 5.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,289 shares of the technology company’s stock valued at $227,000 after acquiring an additional 70 shares during the period. Everhart Financial Group Inc. increased its position in SBA Communications by 5.6% in the 2nd quarter. Everhart Financial Group Inc. now owns 1,525 shares of the technology company’s stock valued at $269,000 after acquiring an additional 81 shares during the period. Finally, Keybank National Association OH raised its stake in SBA Communications by 7.8% during the 1st quarter. Keybank National Association OH now owns 1,174 shares of the technology company’s stock valued at $202,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Down 1.2%

NASDAQ SBAC opened at $180.97 on Wednesday. The company’s fifty day simple moving average is $179.55 and its 200-day simple moving average is $191.60. SBA Communications has a 52 week low of $156.60 and a 52 week high of $224.46. The stock has a market cap of $19.20 billion, a P/E ratio of 14.61, a PEG ratio of 1.83 and a beta of 1.00.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The business had revenue of $715.27 million during the quarter, compared to analyst estimates of $706.01 million. During the same period last year, the business earned $3.17 EPS. The business’s revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that SBA Communications will post 11.40 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 20th. SBA Communications’s dividend payout ratio is presently 53.88%.

SBA Communications Company Profile

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company’s portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.