SBA Communications (NASDAQ:SBAC) Research Coverage Started at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of SBA Communications (NASDAQ:SBAC) in a research note published on Thursday, Marketbeat Ratings reports. The firm issued a market perform rating and a $218.00 price objective on the technology company’s stock.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Royal Bank Of Canada boosted their price target on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Wells Fargo & Company lowered their price objective on shares of SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Finally, Morgan Stanley decreased their target price on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $232.17.

SBA Communications Trading Up 0.5%

Shares of SBAC opened at $196.58 on Thursday. The stock has a market cap of $20.95 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86. SBA Communications has a 1 year low of $177.49 and a 1 year high of $245.16. The stock’s 50-day moving average price is $191.15 and its two-hundred day moving average price is $194.37.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.25 by $0.22. The company had revenue of $719.58 million during the quarter, compared to analysts’ expectations of $725.80 million. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.SBA Communications’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.47 EPS. As a group, equities analysts forecast that SBA Communications will post 12.57 EPS for the current year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $1.25 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, March 13th. SBA Communications’s payout ratio is currently 46.59%.

Institutional Investors Weigh In On SBA Communications

Several institutional investors have recently added to or reduced their stakes in SBAC. Jones Financial Companies Lllp increased its holdings in SBA Communications by 272.8% during the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock worth $166,000 after purchasing an additional 551 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of SBA Communications by 12.6% in the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after purchasing an additional 229 shares in the last quarter. Focus Partners Wealth boosted its position in shares of SBA Communications by 9.0% during the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock worth $712,000 after buying an additional 266 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of SBA Communications by 66.9% during the second quarter. Assetmark Inc. now owns 1,197 shares of the technology company’s stock worth $281,000 after buying an additional 480 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

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.