SBA Communications Corporation (NASDAQ:SBAC) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analyst consensus is “Hold” for SBA Communications, with nine hold ratings and eight buys among 17 covering firms. The average 12-month price target is $227.69, above the reported share price of $181.83.
• SBAC’s latest quarterly results slightly exceeded expectations, with EPS of $1.87 versus a $1.85 estimate and revenue of $715.27 million compared with forecasts of $706.01 million. Revenue increased 2.3% year over year.
• The company pays a quarterly dividend of $1.25, equivalent to $5.00 annually and a 2.7% yield. Institutional investors own 97.35% of the stock, while an insider recently sold 300 shares.

Shares of SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seventeen ratings firms that are presently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $227.69.

SBAC has been the subject of several analyst reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $271.00 target price on shares of SBA Communications in a research report on Monday, October 5th. The Goldman Sachs Group assumed coverage on SBA Communications in a report on Friday, June 26th. They issued a "neutral" rating and a $205.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of SBA Communications from $230.00 to $220.00 and set a "neutral" rating for the company in a research report on Tuesday, August 4th. Barclays lowered their price objective on shares of SBA Communications from $208.00 to $207.00 and set an "overweight" rating for the company in a research report on Wednesday, September 30th. Finally, Citigroup reiterated a "market perform" rating on shares of SBA Communications in a research note on Tuesday, August 4th.

SBA Communications Stock Down 1.3%

Shares of SBAC stock opened at $181.83 on Wednesday. SBA Communications has a fifty-two week low of $156.60 and a fifty-two week high of $224.46. The firm's 50 day moving average price is $179.40 and its two-hundred day moving average price is $191.12. The stock has a market cap of $19.29 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.84 and a beta of 1.00.

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

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th were paid a $1.25 dividend. The ex-dividend date was Thursday, August 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. SBA Communications's dividend payout ratio is 53.88%.

Insiders Place Their Bets

In related news, Director George R. Krouse, Jr. sold 300 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $182.67, for a total transaction of $54,801.00. Following the completion of the sale, the director directly owned 8,512 shares of the company's stock, valued at approximately $1,554,887.04. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. Central Pacific Bank Trust Division grew its stake in shares of SBA Communications by 3.0% during the third quarter. Central Pacific Bank Trust Division now owns 3,425 shares of the technology company's stock valued at $548,000 after acquiring an additional 100 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of SBA Communications by 4.5% during the second quarter. QRG Capital Management Inc. now owns 3,109 shares of the technology company's stock worth $549,000 after acquiring an additional 134 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of SBA Communications by 16.2% during the second quarter. Sequoia Financial Advisors LLC now owns 2,461 shares of the technology company's stock worth $434,000 after acquiring an additional 343 shares during the last quarter. National Pension Service lifted its stake in shares of SBA Communications by 29.7% in the second quarter. National Pension Service now owns 9,999 shares of the technology company's stock worth $1,764,000 after acquiring an additional 2,291 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of SBA Communications by 212.9% in the second quarter. Integrated Wealth Concepts LLC now owns 4,800 shares of the technology company's stock worth $847,000 after acquiring an additional 3,266 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

About SBA Communications

SBA Communications Corporation is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftops, small-cell networks and distributed antenna systems used by wireless service providers, government agencies and other communications customers.

The company generates revenue mainly by leasing antenna space and related infrastructure to tenants, who install equipment used to provide wireless voice and data services.

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