SBA Communications (NASDAQ:SBAC) Stock Gets Price Target Cut from Citigroup

Key Points

• Citigroup cut SBA Communications’ price target from $235 to $225 while maintaining a Buy rating, implying approximately 22.9% upside from the stock’s $183.11 price.
• Analyst sentiment remains favorable but mixed: the stock has a “Moderate Buy” consensus rating and a $224.69 average target, while recent targets and ratings ranged from Buy to Neutral and Hold.
• SBA beat third-quarter EPS expectations at $2.19 but missed on revenue, which fell 2.5% year over year to $713.9 million. Leasing weakness and an estimated $110 million churn-related drag are weighing on the near-term outlook.

SBA Communications (NASDAQ:SBAC - Get Free Report) had its target price dropped by equities researchers at Citigroup from $235.00 to $225.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Citigroup's target price points to a potential upside of 22.88% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. Barclays cut their price objective on shares of SBA Communications from $208.00 to $207.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 30th. JPMorgan Chase & Co. dropped their price target on SBA Communications from $220.00 to $200.00 and set a "neutral" rating on the stock in a research report on Tuesday. TD Cowen raised their price objective on shares of SBA Communications from $229.00 to $239.00 and gave the company a "buy" rating in a research report on Tuesday. BMO Capital Markets restated a "market perform" rating on shares of SBA Communications in a research report on Monday, August 24th. Finally, Jefferies Financial Group raised shares of SBA Communications to a "hold" rating in a report on Thursday, October 15th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $224.69.

SBA Communications Price Performance

NASDAQ:SBAC traded down $1.75 during trading hours on Tuesday, reaching $183.11. 421,760 shares of the company were exchanged, compared to its average volume of 1,047,693. The company has a market capitalization of $19.43 billion, a P/E ratio of 19.74, a P/E/G ratio of 1.85 and a beta of 0.97. The business has a 50 day moving average of $179.46 and a 200 day moving average of $190.01. SBA Communications has a 1-year low of $156.60 and a 1-year high of $224.46.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its earnings results on Monday, November 2nd. The technology company reported $2.19 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.10. The firm had revenue of $713.92 million during the quarter, compared to analysts' expectations of $724.07 million. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.30 earnings per share. As a group, equities research analysts anticipate that SBA Communications will post 11.40 earnings per share for the current fiscal year.

Insider Activity at SBA Communications

In related news, Director George R. Krouse, Jr. sold 300 shares of the business's 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. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC grew its stake in SBA Communications by 12.8% during the 3rd quarter. Parallel Advisors LLC now owns 808 shares of the technology company's stock worth $129,000 after buying an additional 92 shares during the last quarter. Alps Advisors Inc. grew its holdings in SBA Communications by 5.7% during the third quarter. Alps Advisors Inc. now owns 7,851 shares of the technology company's stock worth $1,257,000 after acquiring an additional 420 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in shares of SBA Communications by 51.4% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 9,769 shares of the technology company's stock valued at $1,564,000 after purchasing an additional 3,315 shares in the last quarter. CenterBook Partners LP lifted its position in shares of SBA Communications by 94.9% during the 3rd quarter. CenterBook Partners LP now owns 5,674 shares of the technology company's stock valued at $909,000 after acquiring an additional 2,763 shares during the period. Finally, Chicago Partners Investment Group LLC grew its holdings in SBA Communications by 147.6% in the third quarter. Chicago Partners Investment Group LLC now owns 10,193 shares of the technology company's stock valued at $1,883,000 after purchasing an additional 6,077 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

More SBA Communications News

Here are the key news stories impacting SBA Communications this week:

• Positive Sentiment: Third-quarter adjusted funds from operations (AFFO) reached $3.19 per share, exceeding the $3.08 consensus estimate, while EPS of $2.19 also topped expectations of $2.09. The company repurchased 1.7 million shares, which helped support AFFO per share. SBA Communications Tops Q3 FFO Estimates
• Positive Sentiment: TD Cowen raised its price target from $229 to $239 and maintained a Buy rating, indicating analysts see meaningful upside if leasing and operating trends improve. TD Cowen SBA Communications Recommendations
• Positive Sentiment: SBA declared a quarterly dividend of $1.25 per share, or $5.00 annualized, representing an approximately 2.8% yield. The dividend may appeal to income-focused investors. SBA Communications Third-Quarter Results
• Neutral Sentiment: BMO Capital maintained a Hold rating and a $200 price target, citing constrained near-term growth. Morgan Stanley also kept a Hold rating, with a $205 target, describing the risk-reward profile as balanced amid leasing headwinds. SBA Communications Analyst Ratings
• Negative Sentiment: Third-quarter revenue of $713.9 million missed the $724.1 million consensus estimate and declined 2.5% year over year. EPS also fell from $3.30 in the prior-year quarter, reflecting weaker underlying growth. SBA Communications Q3 Profit and Outlook
• Negative Sentiment: Management forecast 2026 revenue of $2.8 billion to $2.9 billion, below the roughly $2.9 billion consensus at the midpoint. Investors are also focused on leasing weakness and an estimated $110 million churn-related drag, which could limit near-term growth. SBA Communications Q3 2026 Earnings

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.

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