Quantinno Capital Management LP reduced its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC – Free Report) by 33.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,281 shares of the technology company’s stock after selling 115,729 shares during the quarter. Quantinno Capital Management LP’s holdings in SBA Communications were worth $38,773,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of SBAC. J. Safra Sarasin Holding AG grew its position in shares of SBA Communications by 4.0% in the first 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 in the last quarter. Norinchukin Bank The boosted its stake in SBA Communications by 1.1% in the 3rd quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock worth $1,167,000 after purchasing an additional 68 shares during the period. Fortune Financial Advisors LLC boosted its stake in SBA Communications by 3.3% in the 4th quarter. Fortune Financial Advisors LLC now owns 2,310 shares of the technology company’s stock worth $447,000 after purchasing an additional 73 shares during the period. Larson Financial Group LLC grew its holdings in SBA Communications by 47.6% during the 4th quarter. Larson Financial Group LLC now owns 248 shares of the technology company’s stock valued at $48,000 after buying an additional 80 shares in the last quarter. Finally, Quarry LP grew its holdings in SBA Communications by 20.3% during the 4th quarter. Quarry LP now owns 475 shares of the technology company’s stock valued at $92,000 after buying an additional 80 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on SBAC shares. KeyCorp increased their price target on shares of SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada reduced their price objective on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a report on Friday, June 26th. They set a “neutral” rating and a $205.00 target price on the stock. Wells Fargo & Company upgraded shares of SBA Communications from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $220.00 to $210.00 in a research note on Friday, July 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of SBA Communications in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $235.28.
SBA Communications Stock Down 2.4%
Shares of NASDAQ SBAC opened at $181.90 on Friday. The stock’s 50-day simple moving average is $189.91 and its two-hundred day simple moving average is $194.77. SBA Communications Corporation has a twelve month low of $162.41 and a twelve month high of $234.64. The firm has a market capitalization of $19.29 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.86 and a beta of 1.00.
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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