SBA Communications Corporation (NASDAQ:SBAC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of SBA Communications Corporation (NASDAQ:SBAC) have received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $232.1667.

SBAC has been the subject of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target for the company. UBS Group reduced their price objective on SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. Royal Bank Of Canada upped their target price on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. dropped their target price on SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Finally, Morgan Stanley cut their price target on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd.

SBA Communications Trading Up 0.5%

Shares of SBA Communications stock opened at $167.06 on Friday. The firm’s 50 day moving average is $188.38 and its 200 day moving average is $191.53. The firm has a market capitalization of $17.67 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.65 and a beta of 0.86. SBA Communications has a 1 year low of $162.41 and a 1 year high of $245.16.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.25 by $0.22. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The business had revenue of $719.58 million during the quarter, compared to the consensus estimate of $725.80 million. During the same quarter in the prior year, the firm earned $3.47 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that SBA Communications will post 12.57 earnings per share for the current year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $1.25 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date was Friday, March 13th. This represents a $5.00 dividend on an annualized basis and a yield of 3.0%. SBA Communications’s dividend payout ratio (DPR) is 52.47%.

Institutional Investors Weigh In On SBA Communications

A number of institutional investors have recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC increased its position in SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after acquiring an additional 110 shares during the period. Quent Capital LLC acquired a new position in shares of SBA Communications during the third quarter worth $27,000. DV Equities LLC acquired a new position in shares of SBA Communications during the fourth quarter worth $29,000. Geneos Wealth Management Inc. grew its stake in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the last quarter. Finally, Fulcrum Asset Management LLP acquired a new stake in SBA Communications in the third quarter valued at $32,000. 97.35% of the stock is owned by institutional investors.

About SBA Communications

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.