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

Shares of SBA Communications Corporation (NASDAQ:SBAC) have received an average rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $236.3889.

A number of equities research analysts have recently commented on SBAC shares. KeyCorp lifted their price objective on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Truist Financial reissued a “buy” rating and issued a $248.00 price target (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Barclays upped their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, The Goldman Sachs Group began coverage on shares of SBA Communications in a report on Friday, June 26th. They set a “neutral” rating and a $205.00 price objective on the stock.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $184.56 on Monday. SBA Communications has a fifty-two week low of $162.41 and a fifty-two week high of $243.16. The firm has a market cap of $19.57 billion, a PE ratio of 19.43, a P/E/G ratio of 1.84 and a beta of 1.00. The business’s fifty day moving average is $201.84 and its two-hundred day moving average is $195.90.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is 52.63%.

Institutional Trading of SBA Communications

Several institutional investors have recently made changes to their positions in the stock. Elevation Wealth Partners LLC raised its position in shares of SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after buying an additional 110 shares during the period. DV Equities LLC purchased a new stake in SBA Communications during the fourth quarter valued at about $29,000. Fulcrum Asset Management LLP purchased a new stake in SBA Communications during the third quarter valued at about $32,000. Geneos Wealth Management Inc. increased its stake in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares during the last quarter. Finally, CX Institutional increased 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 acquiring an additional 65 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other 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.