Mitsubishi UFJ Trust & Banking Corp Trims Position in SBA Communications Co. (SBAC)

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 257,255 shares of the technology company’s stock after selling 2,390 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.22% of SBA Communications worth $37,058,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. WINTON GROUP Ltd increased its position in SBA Communications by 62.4% in the third quarter. WINTON GROUP Ltd now owns 2,590 shares of the technology company’s stock worth $373,000 after buying an additional 995 shares in the last quarter. Zeke Capital Advisors LLC purchased a new stake in SBA Communications in the third quarter worth about $459,000. Amalgamated Bank increased its position in SBA Communications by 16.8% in the third quarter. Amalgamated Bank now owns 14,469 shares of the technology company’s stock worth $2,084,000 after buying an additional 2,077 shares in the last quarter. Picton Mahoney Asset Management increased its position in SBA Communications by 13.7% in the third quarter. Picton Mahoney Asset Management now owns 97,300 shares of the technology company’s stock worth $14,014,000 after buying an additional 11,700 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in SBA Communications in the third quarter worth about $1,410,000. Institutional investors and hedge funds own 96.14% of the company’s stock.

In related news, Director George R. Krouse, Jr. sold 1,999 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total transaction of $338,850.49. Following the completion of the transaction, the director now directly owns 11,999 shares of the company’s stock, valued at $2,033,950.49. The sale was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.

SBAC has been the subject of a number of recent analyst reports. BidaskClub raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $159.00 price objective (up previously from $147.00) on shares of SBA Communications in a research note on Thursday, August 24th. Citigroup upped their price objective on SBA Communications from $140.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, August 28th. KeyCorp raised SBA Communications from a “sector weight” rating to an “overweight” rating and set a $170.00 price objective for the company in a research note on Wednesday, September 27th. Finally, Zacks Investment Research lowered SBA Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $157.87.

SBA Communications Co. (NASDAQ:SBAC) opened at $169.16 on Monday. SBA Communications Co. has a one year low of $95.77 and a one year high of $173.97. The company has a market capitalization of $19,883.40, a P/E ratio of 211.45 and a beta of 0.77. The company has a debt-to-equity ratio of -3.63, a quick ratio of 0.32 and a current ratio of 0.32.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $1.50. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The company had revenue of $433.90 million during the quarter, compared to analyst estimates of $431.42 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. equities analysts anticipate that SBA Communications Co. will post 0.96 EPS for the current year.

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About SBA Communications

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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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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