SBA Communications Corporation (NASDAQ:SBAC) Stock Has Average Price Target of $224.64 According to Analysts

SBA Communications Corporation (NASDAQ:SBAC) has been given an average recommendation of “Moderate Buy” by the eighteen research firms that are covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $224.64.

SBAC has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of SBA Communications from $220.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 3rd. Barclays lowered their price target on shares of SBA Communications from $208.00 to $207.00 and set an “overweight” rating for the company in a report on Wednesday, September 30th. TD Cowen lifted their price target on shares of SBA Communications from $229.00 to $239.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. Citigroup reiterated a “market outperform” rating on shares of SBA Communications in a report on Tuesday, November 3rd. Finally, Wells Fargo & Company set a $200.00 price objective on shares of SBA Communications in a research report on Tuesday, November 3rd.

Insider Activity at SBA Communications

In related news, Director George R. Krouse, Jr. sold 300 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total value of $54,801.00. Following the transaction, the director owned 8,512 shares in the company, valued at approximately $1,554,887.04. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

A number of hedge funds have recently bought and sold shares of SBAC. Private Advisor Group LLC acquired a new stake in shares of SBA Communications during the third quarter worth approximately $208,000. Ieq Capital LLC increased its stake in shares of SBA Communications by 73.2% in the third quarter. Ieq Capital LLC now owns 56,603 shares of the technology company’s stock worth $9,063,000 after buying an additional 23,931 shares during the last quarter. Focus Advisor Solutions LLC increased its stake in shares of SBA Communications by 276.2% in the third quarter. Focus Advisor Solutions LLC now owns 14,032 shares of the technology company’s stock worth $2,247,000 after buying an additional 10,302 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in SBA Communications by 15.9% in the third quarter. Checchi Capital Advisers LLC now owns 1,525 shares of the technology company’s stock valued at $244,000 after acquiring an additional 209 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in SBA Communications by 1.0% in the third quarter. Voya Investment Management LLC now owns 21,698 shares of the technology company’s stock valued at $3,474,000 after acquiring an additional 208 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC opened at $191.43 on Friday. SBA Communications has a 12 month low of $156.60 and a 12 month high of $224.46. The stock’s 50-day moving average is $179.82 and its two-hundred day moving average is $190.05. The stock has a market cap of $20.31 billion, a PE ratio of 15.33, a P/E/G ratio of 1.90 and a beta of 0.97.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, November 2nd. The technology company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.10. The business had revenue of $713.92 million during the quarter, compared to analyst estimates of $724.07 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.54%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.30 earnings per share. On average, research analysts anticipate that SBA Communications will post 11.45 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 12th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, November 12th. SBA Communications’s payout ratio is presently 53.94%.

About SBA Communications

SBA Communications is a real estate investment trust that owns and operates wireless communications infrastructure. Its primary business is leasing space on its communications towers and other sites to wireless carriers and other customers that need to install network equipment. The company also provides site development services, including helping customers identify, acquire, construct and manage locations for wireless infrastructure. Founded in 1989, SBA serves customers in the United States and several international markets, including countries in Central and South America and Africa.