Analysts Set SBA Communications Corporation (NASDAQ:SBAC) Price Target at $225.81

Shares of SBA Communications Corporation (NASDAQ:SBAC) have received a consensus rating of “Hold” from the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $225.5333.

Several analysts have issued reports on SBAC shares. Wells Fargo & Company raised SBA Communications from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $220.00 to $210.00 in a research report on Friday, July 17th. Barclays reduced their price target on SBA Communications from $245.00 to $208.00 and set an “overweight” rating for the company in a research report on Thursday, August 20th. JPMorgan Chase & Co. decreased their price objective on SBA Communications from $230.00 to $220.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Scotiabank raised their price objective on SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of SBA Communications in a research note on Monday.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $186.96 on Tuesday. SBA Communications has a one year low of $162.41 and a one year high of $224.46. The firm has a market cap of $19.83 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.86 and a beta of 0.99. The firm has a 50-day simple moving average of $182.74 and a 200-day simple moving average of $194.33.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.02. The company had revenue of $715.27 million for the quarter, compared to analyst estimates of $706.01 million. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. SBA Communications’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $3.17 earnings per share. On average, research analysts predict that SBA Communications will post 11.41 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, August 20th. SBA Communications’s dividend payout ratio is presently 53.88%.

Insider Buying and Selling at SBA Communications

In other news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the transaction, the director owned 8,512 shares of the company’s stock, valued at $1,554,887.04. The trade was a 3.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of SBAC. California State Teachers Retirement System increased its position in shares of SBA Communications by 15,128.8% during the second quarter. California State Teachers Retirement System now owns 25,946,855 shares of the technology company’s stock worth $4,578,582,000 after purchasing an additional 25,776,475 shares in the last quarter. Dodge & Cox boosted its position in shares of SBA Communications by 24.1% in the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock worth $2,320,412,000 after purchasing an additional 2,328,837 shares in the last quarter. Norges Bank purchased a new position in SBA Communications during the 4th quarter worth $302,774,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in SBA Communications during the 2nd quarter valued at about $228,367,000. Finally, Arrowstreet Capital Limited Partnership increased its position in SBA Communications by 256.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,092,612 shares of the technology company’s stock valued at $211,344,000 after buying an additional 785,850 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

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.