SBA Communications (NASDAQ:SBAC) Price Target Lowered to $235.00 at Citigroup

SBA Communications (NASDAQ:SBACFree Report) had its target price trimmed by Citigroup from $265.00 to $235.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other analysts have also issued reports on SBAC. The Goldman Sachs Group reduced their target price on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Barclays reduced their target price on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the stock a “market outperform” rating in a research note on Tuesday, August 5th. Scotiabank started coverage on shares of SBA Communications in a research note on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 target price for the company. Finally, KeyCorp reduced their price target on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.73.

Check Out Our Latest Stock Report on SBA Communications

SBA Communications Trading Up 1.5%

SBAC opened at $197.42 on Thursday. The company’s fifty day moving average price is $202.10 and its two-hundred day moving average price is $219.90. SBA Communications has a 1-year low of $185.45 and a 1-year high of $248.89. The company has a market cap of $21.20 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 2.05 and a beta of 0.82.

SBA Communications (NASDAQ:SBACGet Free Report) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the business posted $3.29 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that SBA Communications will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were given a dividend of $1.11 per share. The ex-dividend date was Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.2%. SBA Communications’s dividend payout ratio is presently 56.42%.

Institutional Investors Weigh In On SBA Communications

Several institutional investors have recently added to or reduced their stakes in SBAC. Farther Finance Advisors LLC lifted its holdings in SBA Communications by 22.0% during the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company’s stock valued at $55,000 after purchasing an additional 45 shares during the last quarter. GAMMA Investing LLC lifted its holdings in SBA Communications by 38.6% during the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company’s stock valued at $370,000 after purchasing an additional 469 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in SBA Communications by 2.4% during the first quarter. Assenagon Asset Management S.A. now owns 4,615 shares of the technology company’s stock valued at $1,015,000 after purchasing an additional 110 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in SBA Communications by 75.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,614 shares of the technology company’s stock valued at $3,215,000 after purchasing an additional 6,272 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in SBA Communications by 35.6% during the first quarter. Exchange Traded Concepts LLC now owns 518 shares of the technology company’s stock valued at $114,000 after purchasing an additional 136 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

About SBA Communications

(Get Free Report)

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.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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