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

Shares of SBA Communications Corporation (NASDAQ:SBAC) have received an average rating of “Moderate Buy” from the eighteen ratings firms that are covering the stock, Marketbeat Ratings reports. Nine investment 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 target price among analysts that have updated their coverage on the stock in the last year is $237.2222.

A number of research firms recently weighed in on SBAC. Barclays boosted their target price on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Scotiabank raised their price target on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Wells Fargo & Company boosted their target price on SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada increased their target price on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Finally, Sanford C. Bernstein started coverage on SBA Communications in a research report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target for the company.

Institutional Investors Weigh In On SBA Communications

A number of institutional investors have recently modified their holdings of SBAC. Elevation Wealth Partners LLC increased its holdings in shares of SBA Communications by 523.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after purchasing an additional 110 shares during the period. DV Equities LLC acquired a new position in SBA Communications during the fourth quarter worth $29,000. Fulcrum Asset Management LLP acquired a new stake in SBA Communications in the third quarter valued at $32,000. Geneos Wealth Management Inc. raised its position 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 valued at $36,000 after purchasing an additional 84 shares during the period. Finally, High Point Wealth Management LLC bought a new position in SBA Communications in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

SBAC opened at $191.57 on Thursday. SBA Communications has a fifty-two week low of $162.41 and a fifty-two week high of $243.16. The stock has a fifty day moving average of $209.89 and a 200-day moving average of $196.44. The company has a market capitalization of $20.32 billion, a P/E ratio of 20.17, a P/E/G ratio of 1.95 and a beta of 0.99.

SBA Communications Dividend Announcement

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

SBA Communications Company Profile

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.