Canada Pension Plan Investment Board lifted its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 39.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,544 shares of the technology company’s stock after purchasing an additional 125,732 shares during the period. Canada Pension Plan Investment Board owned 0.37% of SBA Communications Corporation worth $63,893,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. D.A. Davidson & CO. raised its stake in SBA Communications Corporation by 18.8% during the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after buying an additional 120 shares during the period. Creative Planning raised its stake in SBA Communications Corporation by 40.7% during the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after buying an additional 253 shares during the period. Acadian Asset Management LLC acquired a new position in SBA Communications Corporation during the 2nd quarter worth approximately $159,000. Advisor Group Inc. raised its stake in SBA Communications Corporation by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after buying an additional 114 shares during the period. Finally, 1ST Source Bank acquired a new position in SBA Communications Corporation during the 2nd quarter worth approximately $201,000. Institutional investors own 92.54% of the company’s stock.
In other SBA Communications Corporation news, SVP Brian D. Lazarus sold 7,376 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $151.79, for a total value of $1,119,603.04. Following the transaction, the senior vice president now owns 17,525 shares of the company’s stock, valued at $2,660,119.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.10% of the company’s stock.
SBA Communications Corporation (NASDAQ SBAC) opened at $154.53 on Friday. SBA Communications Corporation has a twelve month low of $95.66 and a twelve month high of $159.14. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. The stock has a market capitalization of $18.49 billion, a P/E ratio of 195.13, a PEG ratio of 15.24 and a beta of 0.75.
SBA Communications Corporation (NASDAQ:SBAC) last released its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $0.25 by $1.50. SBA Communications Corporation had a negative return on equity of 4.71% and a net margin of 5.95%. The firm had revenue of $433.90 million for the quarter, compared to analyst estimates of $431.42 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. analysts anticipate that SBA Communications Corporation will post 0.97 EPS for the current year.
A number of research analysts recently weighed in on SBAC shares. Deutsche Bank AG reaffirmed a “hold” rating and set a $150.00 price target (up from $133.00) on shares of SBA Communications Corporation in a research note on Friday, July 14th. Zacks Investment Research downgraded SBA Communications Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Jefferies Group LLC upped their price target on SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price target (up from $148.00) on shares of SBA Communications Corporation in a research note on Tuesday, August 1st. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $148.00 price target on shares of SBA Communications Corporation in a research note on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $149.67.
SBA Communications Corporation Company Profile
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.
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