SBA Communications (NASDAQ:SBAC) Stock Gets Price Target Reduction from Truist Financial

SBA Communications (NASDAQ:SBAC) had its price objective lowered by analysts at Truist Financial from $238.00 to $235.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial‘s price objective suggests a potential upside of 17.50% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Barclays cut their price objective on shares of SBA Communications from $208.00 to $207.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Wolfe Research raised shares of SBA Communications from a “hold” rating to an “outperform” rating in a research report on Tuesday, August 4th. UBS Group cut shares of SBA Communications from a “market perform” rating to a “hold” rating in a report on Monday, August 24th. Wells Fargo & Company set a $200.00 price objective on shares of SBA Communications in a research report on Tuesday. Finally, Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 15th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average price target of $224.64.

SBA Communications Trading Up 8.3%

Shares of SBAC traded up $15.31 on Wednesday, reaching $200.00. The company’s stock had a trading volume of 504,018 shares, compared to its average volume of 1,048,755. The stock has a market capitalization of $21.22 billion, a PE ratio of 21.65, a PEG ratio of 1.85 and a beta of 0.97. SBA Communications has a twelve month low of $156.60 and a twelve month high of $224.46. The firm has a fifty day moving average of $179.45 and a 200-day moving average of $189.97.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, November 2nd. The technology company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.10. SBA Communications had a negative return on equity of 20.76% and a net margin of 34.54%. The company had revenue of $713.92 million for the quarter, compared to analyst estimates of $724.07 million. During the same quarter last year, the company earned $3.30 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities analysts anticipate that SBA Communications will post 11.40 EPS for the current fiscal year.

Insider Activity

In other news, Director George R. Krouse, Jr. sold 300 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the sale, the director directly owned 8,512 shares of the company’s stock, valued at approximately $1,554,887.04. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.50% of the company’s stock.

Institutional Trading of SBA Communications

Institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of SBA Communications by 120.0% during the 3rd quarter. Brighton Jones LLC now owns 3,119 shares of the technology company’s stock valued at $499,000 after purchasing an additional 1,701 shares in the last quarter. Parallel Advisors LLC boosted its stake in SBA Communications by 12.8% during the third quarter. Parallel Advisors LLC now owns 808 shares of the technology company’s stock valued at $129,000 after buying an additional 92 shares during the period. Alps Advisors Inc. boosted its stake in SBA Communications by 5.7% during the third quarter. Alps Advisors Inc. now owns 7,851 shares of the technology company’s stock valued at $1,257,000 after buying an additional 420 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in SBA Communications by 51.4% during the third quarter. Ashton Thomas Private Wealth LLC now owns 9,769 shares of the technology company’s stock valued at $1,564,000 after buying an additional 3,315 shares during the period. Finally, CenterBook Partners LP grew its position in SBA Communications by 94.9% during the third quarter. CenterBook Partners LP now owns 5,674 shares of the technology company’s stock worth $909,000 after buying an additional 2,763 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about SBA Communications

Here are the key news stories impacting SBA Communications this week:

• Positive Sentiment: Q3 FFO was $3.19 per share, above the $3.08 consensus estimate. International leasing gains helped drive the beat, and the company repurchased 1.7 million shares during the quarter. SBAC Q3 FFO Top Estimates on International Leasing Gains
• Neutral Sentiment: The company declared a quarterly dividend of $1.25 per share, or $5.00 annualized. Analyst actions were mixed: TD Cowen raised its target to $239 and kept a Buy rating, while Citi and JPMorgan cut targets to $225 and $200, respectively; JPMorgan maintained Neutral. SBA Communications Q3 Results, Outlook and Dividend
• Negative Sentiment: Q3 revenue of $713.9 million fell short of the $724.1 million estimate and was down 2.5% year over year. Management’s 2026 revenue guidance of $2.8 billion–$2.9 billion reaches only the low end of consensus expectations. U.S. leasing weakness and churn were also cited as headwinds, tempering the positive FFO result.

About SBA Communications

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company’s portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.