SBA Communications (NASDAQ:SBAC) Sets New 52-Week Low – Here’s What Happened

Shares of SBA Communications Corporation (NASDAQ:SBAC) reached a new 52-week low on Tuesday . The stock traded as low as $185.45 and last traded at $188.12, with a volume of 997946 shares traded. The stock had previously closed at $189.10.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Bank of America cut shares of SBA Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. Morgan Stanley boosted their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Citigroup restated an “outperform” rating on shares of SBA Communications in a research report on Tuesday, August 5th. Finally, UBS Group upped their target price on shares of SBA Communications from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.07.

SBA Communications Stock Performance

The firm’s 50-day simple moving average is $203.68 and its 200 day simple moving average is $220.44. The company has a market cap of $20.20 billion, a P/E ratio of 23.90, a PEG ratio of 1.99 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating the consensus estimate of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The company had revenue of $698.98 million during the quarter, compared to analysts’ expectations of $670.73 million. During the same quarter in the previous year, the company posted $3.29 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, research analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were given a $1.11 dividend. The ex-dividend date was Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio is currently 56.42%.

Institutional Trading of SBA Communications

A number of large investors have recently made changes to their positions in SBAC. CVA Family Office LLC increased its position in shares of SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after buying an additional 67 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of SBA Communications in the 1st quarter valued at $33,000. Allworth Financial LP increased its position in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after buying an additional 62 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of SBA Communications in the 1st quarter valued at $47,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.