SBA Communications Corporation (NASDAQ:SBAC) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• SBA Communications has a consensus “Hold” rating among 16 analysts, with nine holds and seven buys. The average 12-month price target is $225.53, above the reported share price of $178.59.
• The company exceeded quarterly expectations, reporting adjusted earnings of $1.87 per share versus the $1.85 consensus estimate and revenue of $715.27 million. Revenue increased 2.3% year over year.
• SBA Communications declared a quarterly dividend of $1.25, equivalent to $5.00 annually and a 2.8% yield; institutional investors own 97.35% of the company’s shares.

Shares of SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) have been given an average recommendation of "Hold" by the sixteen analysts that are presently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $225.5333.

SBAC has been the topic of a number of recent research reports. Truist Financial reduced their target price on shares of SBA Communications from $248.00 to $238.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Wolfe Research raised shares of SBA Communications from a "hold" rating to an "outperform" rating in a research report on Tuesday, August 4th. UBS Group lowered shares of SBA Communications from a "market perform" rating to a "hold" rating in a research note on Monday, August 24th. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a report on Friday, June 26th. They issued a "neutral" rating and a $205.00 price objective on the stock. Finally, Royal Bank Of Canada decreased their target price on shares of SBA Communications from $245.00 to $210.00 and set an "outperform" rating for the company in a research note on Friday, July 10th.

SBA Communications Price Performance

Shares of SBAC opened at $178.59 on Friday. The firm has a market capitalization of $18.95 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99. The company has a 50-day simple moving average of $183.47 and a two-hundred day simple moving average of $193.11. SBA Communications has a one year low of $162.41 and a one year high of $224.46.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.02. The company had revenue of $715.27 million for the quarter, compared to analyst estimates of $706.01 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The firm's revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.17 earnings per share. Analysts expect that SBA Communications will post 11.41 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders 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 payout ratio is currently 53.88%.

Insider Buying and Selling at SBA Communications

In related news, Director George R. Krouse, Jr. sold 300 shares of the firm'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 owned 8,512 shares of the company's stock, valued at $1,554,887.04. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.50% of the stock is owned by insiders.

Institutional Investors Weigh In On SBA Communications

Institutional investors have recently modified their holdings of the stock. Raiffeisen Bank International AG raised its position in shares of SBA Communications by 184.8% in the 2nd quarter. Raiffeisen Bank International AG now owns 188 shares of the technology company's stock worth $34,000 after purchasing an additional 122 shares during the last quarter. Commonwealth Retirement Investments LLC bought a new stake in SBA Communications during the 4th quarter valued at about $39,000. CX Institutional increased its stake in SBA Communications by 44.2% during the 2nd quarter. CX Institutional now owns 212 shares of the technology company's stock valued at $37,000 after purchasing an additional 65 shares in the last quarter. Fideuram Asset Management Ireland dac bought a new stake in SBA Communications during the 4th quarter valued at about $46,000. Finally, Larson Financial Group LLC raised its holdings in SBA Communications by 47.6% in the fourth quarter. Larson Financial Group LLC now owns 248 shares of the technology company's stock worth $48,000 after buying an additional 80 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

About SBA Communications

SBA Communications Corporation NASDAQ: SBAC is a real estate investment trust that owns and operates wireless communications infrastructure. The company provides the sites and facilities that wireless service providers use to support cellular networks, including traditional macro towers, small cells and distributed antenna systems.

SBA's primary business is leasing space on its communications infrastructure to wireless carriers and other communications companies. It also develops, acquires and manages wireless sites, helping customers expand network coverage and capacity.

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