SBA Communications Corp (NASDAQ: SBAC) was downgraded by investment analysts at Evercore Partners to an “equal weight” rating in a note issued to investors on Monday. They currently have a $49.00 price target on the stock. The analysts noted that the move was a valuation call.
Separately, analysts at Stifel Nicolaus initiated coverage on shares of SBA Communications Corp in a research note to investors on Monday, December 19th. They set a “hold” rating on the stock. Analysts at Macquarie initiated coverage on shares of SBA Communications Corp in a research note to investors on Friday, December 2nd. They set a “neutral” rating on the stock. Also, analysts at RBC Capital (NYSE: RY) raised their price target on shares of SBA Communications Corp from $51.00 to $53.00 in a research note to investors on Wednesday, November 2nd. They now have an “outperform” rating on the stock.
SBA Communications Corporation (SBA) is an independent owner and operator of wireless communications towers. Its principal operations are in the continental United States. In addition, SBA has towers in Canada, Puerto Rico and the United States Virgin Islands. Its principal business line is its site leasing business, which contributed 97.4% of its total segment operating profit for the year ended December 31, 2009. In its site leasing business, it leases antenna space primarily to wireless service providers on towers and other structures that it owns, manages or leases from others. As of December 31, 2009, SBA owned 8,324 tower sites. The Company also manages or leases approximately 5,100 communications sites, approximately 550, of which were revenue producing as of December 31, 2009. Its other business line is its site development business, through which it assists wireless service providers in developing and maintaining their own wireless service networks.
SBA Communications Corp traded down 0.70% on Monday, hitting $45.50. SBA Communications Corp has a 1-year low of $32.36 and a 1-year high of $46.56. The stock has a 50-day moving average of $43.03 and a 200-day moving average of $38.71. The company’s market cap is $4.976 billion.