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

Key Points

• SBA Communications shares fell to a new 52-week low of $157.09, below both its 50-day moving average of $180.27 and 200-day moving average of $191.19.
• Analysts maintain a generally cautious view: seven rate the stock a Buy and nine a Hold, producing a consensus “Hold” rating despite a $224.80 average price target.
• The company exceeded quarterly earnings and revenue estimates, while continuing to pay a quarterly dividend of $1.25 per share, or $5.00 annually, for a 3.1% yield.

SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) reached a new 52-week low during mid-day trading on Monday. The company traded as low as $157.09 and last traded at $157.4790, with a volume of 18076 shares traded. The stock had previously closed at $158.49.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of research analyst reports. BMO Capital Markets reissued a "market perform" rating on shares of SBA Communications in a research note on Monday, August 24th. Citigroup reaffirmed a "market perform" rating on shares of SBA Communications in a research note on Tuesday, August 4th. Weiss Ratings cut SBA Communications from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, September 24th. Royal Bank Of Canada reduced their price objective on SBA Communications from $245.00 to $210.00 and set an "outperform" rating on the stock in a research report on Friday, July 10th. Finally, The Goldman Sachs Group began coverage on SBA Communications in a report on Friday, June 26th. They set a "neutral" rating and a $205.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $224.80.

SBA Communications Stock Performance

The firm has a 50-day moving average of $180.27 and a 200-day moving average of $191.19. The firm has a market capitalization of $16.97 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 1.59 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 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 firm had revenue of $715.27 million during the quarter, compared to analyst estimates of $706.01 million. During the same quarter in the prior year, the firm posted $3.17 earnings per share. The business's quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that SBA Communications Corporation will post 11.4 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 20th. SBA Communications's dividend payout ratio is 53.88%.

Insider Buying and Selling 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 transaction of $54,801.00. Following the transaction, the director owned 8,512 shares in the company, valued at $1,554,887.04. The trade was a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.50% of the company's stock.

Institutional Investors Weigh In On SBA Communications

Institutional investors and hedge funds have recently bought and sold shares of the business. QRG Capital Management Inc. increased its stake 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 valued at $549,000 after buying an additional 134 shares during the period. Sequoia Financial Advisors LLC raised its holdings 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 valued at $434,000 after acquiring an additional 343 shares in the last quarter. National Pension Service lifted its stake in 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 during the period. Integrated Wealth Concepts LLC boosted its holdings in SBA Communications by 212.9% in the second quarter. Integrated Wealth Concepts LLC now owns 4,800 shares of the technology company's stock valued at $847,000 after acquiring an additional 3,266 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in SBA Communications by 30.4% in the second quarter. NewEdge Advisors LLC now owns 6,412 shares of the technology company's stock valued at $1,131,000 after acquiring an additional 1,495 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Company Profile

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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