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

Shares of SBA Communications Corporation (NASDAQ:SBAC) have received an average rating of “Moderate Buy” from the eighteen brokerages that are currently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $237.2222.

SBAC has been the subject of a number of analyst reports. Scotiabank upped their price objective on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Royal Bank Of Canada upped their price objective on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Sanford C. Bernstein initiated coverage on shares of SBA Communications in a research report on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price objective for the company. KeyCorp upped their price objective on shares of SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company upped their price objective on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SBAC. Elevation Wealth Partners LLC raised its position in shares of SBA Communications by 523.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after acquiring an additional 110 shares during the period. DV Equities LLC acquired a new position in shares of SBA Communications in the fourth quarter worth about $29,000. Fulcrum Asset Management LLP acquired a new position in shares of SBA Communications during the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. raised its position in shares of SBA Communications by 105.0% during the 1st 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, High Point Wealth Management LLC acquired a new position in shares of SBA Communications during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

NASDAQ SBAC opened at $207.33 on Thursday. The company has a market capitalization of $21.99 billion, a PE ratio of 21.82, a P/E/G ratio of 2.04 and a beta of 0.99. The company has a fifty day moving average of $209.35 and a 200 day moving average of $196.30. SBA Communications has a 1 year low of $162.41 and a 1 year high of $243.16.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd will be given a $1.25 dividend. The ex-dividend date is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio is 52.63%.

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.