SBA Communications (NASDAQ:SBAC) Sets New 1-Year Low – Should You Sell?

SBA Communications Corporation (NASDAQ:SBAC)’s stock price reached a new 52-week low on Thursday . The company traded as low as $162.41 and last traded at $165.15, with a volume of 1231215 shares. The stock had previously closed at $166.76.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank Of Canada boosted their target price on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. UBS Group lowered their price target on SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Sanford C. Bernstein began coverage on SBA Communications in a research note on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price objective for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Finally, Wells Fargo & Company decreased their target price on SBA Communications from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $232.17.

SBA Communications Trading Down 1.0%

The company has a market capitalization of $17.47 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.65 and a beta of 0.86. The stock’s fifty day simple moving average is $189.43 and its 200-day simple moving average is $191.88.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.25 by $0.22. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The business had revenue of $719.58 million during the quarter, compared to the consensus estimate of $725.80 million. During the same quarter in the previous year, the firm posted $3.47 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $1.11. SBA Communications’s payout ratio is presently 52.47%.

Institutional Investors Weigh In On SBA Communications

A number of hedge funds have recently bought and sold shares of the stock. Elevation Wealth Partners LLC increased its stake in shares of SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after buying an additional 110 shares during the period. Quent Capital LLC purchased a new position in SBA Communications in the third quarter worth approximately $27,000. DV Equities LLC purchased a new position in SBA Communications in the fourth quarter worth approximately $29,000. Fulcrum Asset Management LLP acquired a new position in SBA Communications during the 3rd quarter worth approximately $32,000. Finally, Geneos Wealth Management Inc. grew its holdings in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

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.