Are Wall Street Analysts Bullish on SBA Communications Stock?

Core Insights - SBA Communications Corporation (SBAC) is a real estate investment trust (REIT) focused on wireless communications infrastructure, with a market cap of $21 billion [1] - The company has underperformed the broader market, with a 9.7% decline in shares over the past 52 weeks compared to a 13.2% gain in the S&P 500 Index [2] - SBAC's Q3 results exceeded expectations, with total revenue increasing 9.7% year-over-year to $732.3 million, surpassing consensus estimates by 3.9% [4] Performance Analysis - Year-to-date, SBAC's stock is down 3.2%, while the S&P 500 has increased by 14.5% [2] - SBAC has also underperformed the Pacer Benchmark Data & Infrastructure Real Estate ETF, which saw a 4.3% drop over the past 52 weeks [3] Financial Metrics - The company's AFFO for Q3 was $3.30, slightly down from the previous year but above analyst expectations of $3.19 [4] - Analysts project an 8.8% decline in FFO for the current fiscal year, estimating it at $12.19 [5] Analyst Ratings - The consensus rating among 20 analysts is a "Moderate Buy," with a mix of ratings including eight "Strong Buy," one "Moderate Buy," and eleven "Hold" [5] - RBC Capital has maintained an "Outperform" rating but lowered its price target to $232, indicating a potential upside of 17.6% [6] - The mean price target of $225.56 suggests a 14.4% premium from current levels, while the highest target of $280 indicates a potential upside of 42% [6]