Brokerages Set SBA Communications Corporation (NASDAQ:SBAC) PT at $235.28

Shares of SBA Communications Corporation (NASDAQ:SBAC) have earned an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $235.2778.

Several analysts have commented on SBAC shares. KeyCorp upped their price objective on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Truist Financial restated a “buy” rating and issued a $248.00 price target (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Royal Bank Of Canada decreased their price target on SBA Communications from $245.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Wells Fargo & Company raised SBA Communications from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $220.00 to $210.00 in a report on Friday, July 17th. Finally, Barclays raised their price target on SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th.

SBA Communications Stock Performance

Shares of SBAC opened at $180.99 on Friday. SBA Communications has a fifty-two week low of $162.41 and a fifty-two week high of $234.64. The company has a market capitalization of $19.20 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99. The firm has a 50-day simple moving average of $189.42 and a 200-day simple moving average of $194.74.

Institutional Trading of SBA Communications

A number of large investors have recently made changes to their positions in the stock. J. Safra Sarasin Holding AG raised its stake in SBA Communications by 4.0% in the 1st quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock valued at $275,000 after purchasing an additional 62 shares during the last quarter. CX Institutional grew its holdings in shares of 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 in the last quarter. Norinchukin Bank The raised its position in shares of SBA Communications by 1.1% in the third quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock valued at $1,167,000 after buying an additional 68 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of SBA Communications by 5.7% during the second quarter. GAMMA Investing LLC now owns 1,289 shares of the technology company’s stock valued at $227,000 after buying an additional 70 shares during the period. Finally, Fortune Financial Advisors LLC boosted its position in SBA Communications by 3.3% during the fourth quarter. Fortune Financial Advisors LLC now owns 2,310 shares of the technology company’s stock worth $447,000 after acquiring an additional 73 shares during 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.