SBA Communications (NASDAQ:SBAC) Hits New 12-Month Low - Time to Sell?

Key Points

• SBA Communications shares hit a new 52-week low, falling to $162.21 and trading about 1.6% lower, well below their 50-day and 200-day moving averages.
• Analyst sentiment is mixed: seven analysts rate the stock a Buy and nine rate it a Hold, producing a consensus Hold rating and an average price target of $224.87. Barclays and Wells Fargo recently cut their targets, despite maintaining favorable ratings.
• The company exceeded quarterly earnings and revenue estimates, while paying a quarterly dividend of $1.25 per share, equivalent to a 3.1% annualized yield. Institutional investors own 97.35% of the stock, and an insider recently sold 300 shares.

SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) shares reached a new 52-week low during trading on Monday. The stock traded as low as $162.21 and last traded at $162.8250, with a volume of 479576 shares changing hands. The stock had previously closed at $166.15.

Analyst Ratings Changes

SBAC has been the subject of several research analyst reports. TD Cowen restated a "buy" rating on shares of SBA Communications in a research report on Tuesday, August 4th. Weiss Ratings lowered SBA Communications from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday. Barclays lowered their target price on SBA Communications from $245.00 to $208.00 and set an "overweight" rating for the company in a research note on Thursday, August 20th. Wells Fargo & Company raised SBA Communications from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $220.00 to $210.00 in a research note on Friday, July 17th. Finally, Citigroup reiterated a "market perform" rating on shares of SBA Communications in a report on Tuesday, August 4th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $224.87.

SBA Communications Trading Down 1.6%

The business's fifty day simple moving average is $181.92 and its 200 day simple moving average is $192.17. The stock has a market cap of $17.34 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The company had revenue of $715.27 million for the quarter, compared to the consensus estimate of $706.01 million. During the same quarter in the prior year, the business posted $3.17 EPS. The firm's quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that SBA Communications Corporation will post 11.4 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th were issued a dividend of $1.25 per share. The ex-dividend date was Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a yield of 3.1%. SBA Communications's dividend payout ratio (DPR) is 53.88%.

Insider Activity at SBA Communications

In other news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications 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 transaction, the director directly owned 8,512 shares of the company's stock, valued at $1,554,887.04. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.50% of the stock is currently owned by company insiders.

Institutional Trading of SBA Communications

A number of large investors have recently made changes to their positions in SBAC. J. Safra Sarasin Holding AG increased its stake in SBA Communications by 4.0% in the first quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company's stock valued at $275,000 after acquiring an additional 62 shares during the last quarter. CX Institutional lifted its stake in SBA Communications by 44.2% during the second quarter. CX Institutional now owns 212 shares of the technology company's stock worth $37,000 after purchasing an additional 65 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of SBA Communications by 5.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,289 shares of the technology company's stock valued at $227,000 after purchasing an additional 70 shares in the last quarter. Everhart Financial Group Inc. boosted its holdings in shares of SBA Communications by 5.6% in the 2nd quarter. Everhart Financial Group Inc. now owns 1,525 shares of the technology company's stock valued at $269,000 after purchasing an additional 81 shares in the last quarter. Finally, Keybank National Association OH increased its stake in shares of SBA Communications by 7.8% in the 1st quarter. Keybank National Association OH now owns 1,174 shares of the technology company's stock valued at $202,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

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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