Fox Run Management L.L.C. trimmed its position in SBA Communications Corporation (NASDAQ:SBAC – Free Report) by 59.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,860 shares of the technology company’s stock after selling 8,420 shares during the quarter. Fox Run Management L.L.C.’s holdings in SBA Communications were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in SBA Communications by 272.8% during the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock worth $166,000 after buying an additional 551 shares during the last quarter. Empowered Funds LLC grew its stake in SBA Communications by 12.6% during the 1st quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock worth $449,000 after buying an additional 229 shares during the last quarter. Focus Partners Wealth grew its stake in SBA Communications by 9.0% during the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock worth $712,000 after buying an additional 266 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in SBA Communications by 11.3% during the 2nd quarter. First Trust Advisors LP now owns 94,692 shares of the technology company’s stock worth $22,238,000 after buying an additional 9,617 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.
SBA Communications Stock Performance
Shares of SBAC stock opened at $204.78 on Wednesday. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $243.16. The stock has a fifty day moving average of $208.60 and a two-hundred day moving average of $196.21. The firm has a market capitalization of $21.72 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99.
SBA Communications Announces Dividend
Analysts Set New Price Targets
A number of research analysts recently commented on SBAC shares. Morgan Stanley upped their price objective on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. KeyCorp upped their price objective on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Wells Fargo & Company upped their price objective on SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. Sanford C. Bernstein started coverage on SBA Communications in a research note on Thursday, March 5th. They set a “market perform” rating and a $218.00 price objective for the company. Finally, Barclays upped their price objective on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.22.
Get Our Latest Stock Report on SBA Communications
SBA Communications 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.
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