SBA Communications (NASDAQ:SBAC) Price Target Raised to $220.00

SBA Communications (NASDAQ:SBAC) had its price target hoisted by Royal Bank Of Canada from $215.00 to $220.00 in a research report released on Monday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

SBAC has been the topic of several other research reports. BMO Capital Markets lowered their target price on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. JPMorgan Chase & Co. lowered their price target on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Williams Trading set a $237.00 price objective on shares of SBA Communications in a research note on Tuesday, November 4th. Finally, Scotiabank decreased their target price on shares of SBA Communications from $252.00 to $233.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $233.00.

SBA Communications Trading Down 0.5%

NASDAQ:SBAC opened at $196.43 on Monday. The stock has a 50 day moving average of $191.01 and a two-hundred day moving average of $194.67. SBA Communications has a 12 month low of $177.49 and a 12 month high of $245.16. The firm has a market cap of $20.93 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.94 and a beta of 0.86.

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

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 annualized dividend and a yield of 2.5%. SBA Communications’s dividend payout ratio (DPR) is 46.59%.

Hedge Funds Weigh In On SBA Communications

Several institutional investors and hedge funds have recently bought and sold shares of the company. Elevation Wealth Partners LLC increased its holdings in shares of SBA Communications by 523.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after buying an additional 110 shares during the last quarter. Quent Capital LLC acquired a new position in SBA Communications in the third quarter valued at approximately $27,000. DV Equities LLC acquired a new position in SBA Communications in the fourth quarter valued at approximately $29,000. Fulcrum Asset Management LLP purchased a new position in SBA Communications in the third quarter worth approximately $32,000. Finally, Geneos Wealth Management Inc. increased its stake in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.