SBA Communications (NASDAQ:SBAC) Stock Gets Price Target Cut from Truist Financial

SBA Communications (NASDAQ:SBAC) had its price target cut by analysts at Truist Financial from $238.00 to $235.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Truist Financial‘s price objective would indicate a potential upside of 17.50% from the stock’s current price.

Several other research firms have also weighed in on SBAC. BMO Capital Markets reaffirmed a “market perform” rating on shares of SBA Communications in a research note on Monday, August 24th. Morgan Stanley reduced their price target on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Monday, September 21st. Royal Bank Of Canada decreased their price target on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Weiss Ratings upgraded shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 15th. Finally, Citigroup reissued a “market outperform” rating on shares of SBA Communications in a research note on Tuesday. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and a consensus price target of $224.64.

SBA Communications Trading Up 8.3%

SBAC stock traded up $15.31 during trading hours on Wednesday, hitting $200.00. 504,018 shares of the stock were exchanged, compared to its average volume of 1,048,755. SBA Communications has a 12 month low of $156.60 and a 12 month high of $224.46. The firm has a market capitalization of $21.22 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.85 and a beta of 0.97. The company has a 50-day simple moving average of $179.45 and a two-hundred day simple moving average of $189.97.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, November 2nd. The technology company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.10. SBA Communications had a negative return on equity of 20.76% and a net margin of 34.54%. The firm had revenue of $713.92 million during the quarter, compared to analysts’ expectations of $724.07 million. During the same period in the previous year, the firm earned $3.30 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts predict that SBA Communications will post 11.40 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of SBA Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of SBA Communications during the second quarter valued at about $228,367,000. Arrowstreet Capital Limited Partnership grew its stake in shares of SBA Communications by 47.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,615,054 shares of the technology company’s stock valued at $277,967,000 after buying an additional 522,442 shares during the period. Bank of America Corp DE grew its stake in shares of SBA Communications by 41.7% in the 1st quarter. Bank of America Corp DE now owns 1,005,366 shares of the technology company’s stock valued at $173,033,000 after buying an additional 295,727 shares during the period. Walleye Capital LLC bought a new stake in SBA Communications in the 1st quarter valued at about $17,995,000. Finally, Empyrean Capital Partners LP bought a new stake in SBA Communications in the 1st quarter valued at about $17,555,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Key Headlines Impacting SBA Communications

Here are the key news stories impacting SBA Communications this week:

• Positive Sentiment: Q3 FFO was $3.19 per share, above the $3.08 consensus estimate. International leasing gains helped drive the beat, and the company repurchased 1.7 million shares during the quarter. SBAC Q3 FFO Top Estimates on International Leasing Gains
• Neutral Sentiment: The company declared a quarterly dividend of $1.25 per share, or $5.00 annualized. Analyst actions were mixed: TD Cowen raised its target to $239 and kept a Buy rating, while Citi and JPMorgan cut targets to $225 and $200, respectively; JPMorgan maintained Neutral. SBA Communications Q3 Results, Outlook and Dividend
• Negative Sentiment: Q3 revenue of $713.9 million fell short of the $724.1 million estimate and was down 2.5% year over year. Management’s 2026 revenue guidance of $2.8 billion–$2.9 billion reaches only the low end of consensus expectations. U.S. leasing weakness and churn were also cited as headwinds, tempering the positive FFO result.

About SBA Communications

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company’s portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.