SBA Communications Corporation (NASDAQ:SBAC – Get Free Report) gapped up prior to trading on Friday. The stock had previously closed at $178.39, but opened at $196.06. SBA Communications shares last traded at $191.0630, with a volume of 309,704 shares.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Raymond James Financial reiterated an “outperform” rating and set a $271.00 price target on shares of SBA Communications in a research report on Monday, October 5th. Barclays decreased their target price on shares of SBA Communications from $208.00 to $207.00 and set an “overweight” rating for the company in a report on Wednesday, September 30th. Citigroup reaffirmed a “market perform” rating on shares of SBA Communications in a report on Tuesday, August 4th. Royal Bank Of Canada dropped their target price 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. Finally, TD Cowen reissued a “buy” rating on shares of SBA Communications in a report on Tuesday, August 4th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $226.53.
Read Our Latest Report on SBA Communications
SBA Communications Stock Performance
The company has a market capitalization of $19.66 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.73 and a beta of 1.00. The business’s fifty day simple moving average is $179.20 and its 200-day simple moving average is $191.21.
SBA Communications (NASDAQ:SBAC – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%. The business had revenue of $715.27 million for the quarter, compared to the consensus estimate of $706.01 million. During the same quarter in the previous year, the company posted $3.17 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts forecast that SBA Communications Corporation will post 11.40 EPS for the current year.
SBA Communications Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th were given a dividend of $1.25 per share. The ex-dividend date was Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. SBA Communications’s dividend payout ratio is 53.88%.
Insiders Place Their Bets
In other news, Director George R. Krouse, Jr. sold 300 shares of the stock in a transaction 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 sale, the director owned 8,512 shares of the company’s stock, valued at approximately $1,554,887.04. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On SBA Communications
A number of large investors have recently bought and sold shares of the business. J. Safra Sarasin Holding AG lifted its holdings in SBA Communications by 4.0% during the 1st quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock valued at $275,000 after buying an additional 62 shares in the last quarter. CX Institutional lifted its holdings 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 buying an additional 65 shares during the period. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 70 shares during the last quarter. Everhart Financial Group Inc. lifted its position in shares of SBA Communications by 5.6% during the second quarter. Everhart Financial Group Inc. now owns 1,525 shares of the technology company’s stock valued at $269,000 after buying an additional 81 shares during the last quarter. Finally, Keybank National Association OH boosted its stake in SBA Communications by 7.8% in the first quarter. Keybank National Association OH now owns 1,174 shares of the technology company’s stock valued at $202,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.
SBA Communications Company Profile
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.
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