SBA Communications (NASDAQ:SBAC) Given New $210.00 Price Target at Royal Bank Of Canada

SBA Communications (NASDAQ:SBAC) had its price target decreased by Royal Bank Of Canada from $245.00 to $210.00 in a research note released on Friday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the technology company’s stock.

Several other equities analysts have also recently commented on SBAC. Weiss Ratings raised SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Barclays boosted their price objective on SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Truist Financial restated a “buy” rating and issued a $248.00 target price (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Scotiabank raised their target price on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company lifted their price target on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.83.

SBA Communications Stock Performance

NASDAQ SBAC opened at $190.03 on Friday. SBA Communications has a twelve month low of $162.41 and a twelve month high of $243.16. The stock has a market cap of $20.15 billion, a PE ratio of 20.00, a PEG ratio of 1.82 and a beta of 1.00. The firm has a 50-day simple moving average of $198.45 and a 200 day simple moving average of $195.62.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 22nd were given a dividend of $1.25 per share. The ex-dividend date was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.6%. SBA Communications’s dividend payout ratio (DPR) is 52.63%.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. J. Safra Sarasin Holding AG increased its holdings in shares of SBA Communications by 4.0% during the first quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock worth $275,000 after buying an additional 62 shares in the last quarter. CX Institutional boosted its holdings in shares of SBA Communications by 44.2% in the 2nd quarter. CX Institutional now owns 212 shares of the technology company’s stock worth $37,000 after acquiring an additional 65 shares in the last quarter. Norinchukin Bank The boosted its holdings in shares of SBA Communications by 1.1% in the 3rd quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock worth $1,167,000 after acquiring an additional 68 shares in the last quarter. GAMMA Investing LLC grew its position in SBA Communications by 5.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,289 shares of the technology company’s stock worth $227,000 after acquiring an additional 70 shares during the last quarter. Finally, Fortune Financial Advisors LLC grew its position in SBA Communications by 3.3% during the 4th quarter. Fortune Financial Advisors LLC now owns 2,310 shares of the technology company’s stock worth $447,000 after acquiring an additional 73 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.