Mitsubishi UFJ Trust & Banking Corp Sells 151,873 Shares of SBA Communications Co. (SBAC)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 60.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,117 shares of the technology company’s stock after selling 151,873 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.09% of SBA Communications worth $16,242,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Employees Retirement System of Texas boosted its position in shares of SBA Communications by 31.3% during the second quarter. Employees Retirement System of Texas now owns 21,000 shares of the technology company’s stock worth $3,468,000 after buying an additional 5,000 shares during the period. Rampart Investment Management Company LLC boosted its holdings in SBA Communications by 167.9% in the second quarter. Rampart Investment Management Company LLC now owns 13,970 shares of the technology company’s stock valued at $2,307,000 after purchasing an additional 8,756 shares during the period. Neuburgh Advisers LLC boosted its holdings in SBA Communications by 9.7% in the second quarter. Neuburgh Advisers LLC now owns 6,446 shares of the technology company’s stock valued at $1,064,000 after purchasing an additional 572 shares during the period. Riverhead Capital Management LLC boosted its holdings in SBA Communications by 9.3% in the second quarter. Riverhead Capital Management LLC now owns 9,815 shares of the technology company’s stock valued at $1,621,000 after purchasing an additional 836 shares during the period. Finally, DF Dent & Co. Inc. boosted its holdings in SBA Communications by 35.5% in the second quarter. DF Dent & Co. Inc. now owns 203,874 shares of the technology company’s stock valued at $33,664,000 after purchasing an additional 53,456 shares during the period. 94.25% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the company. BidaskClub cut SBA Communications from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. Bank of America set a $189.00 target price on SBA Communications and gave the stock a “buy” rating in a research report on Thursday, November 15th. Citigroup upgraded SBA Communications from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $175.00 to $187.00 in a research report on Wednesday, October 31st. ValuEngine cut SBA Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Finally, Guggenheim set a $180.00 target price on SBA Communications and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. SBA Communications has a consensus rating of “Buy” and an average price target of $179.91.

In related news, CEO Jeffrey Stoops sold 40,000 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $160.05, for a total value of $6,402,000.00. Following the transaction, the chief executive officer now owns 252,180 shares in the company, valued at approximately $40,361,409. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jason V. Silberstein sold 19,785 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $165.13, for a total value of $3,267,097.05. Following the completion of the transaction, the executive vice president now owns 28,659 shares in the company, valued at approximately $4,732,460.67. The disclosure for this sale can be found here. Insiders sold a total of 529,017 shares of company stock worth $90,372,570 in the last 90 days. 2.70% of the stock is currently owned by insiders.

SBAC opened at $170.81 on Monday. SBA Communications Co. has a one year low of $146.13 and a one year high of $177.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, November 5th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by ($1.64). The company had revenue of $467.20 million during the quarter, compared to analyst estimates of $459.17 million. SBA Communications had a negative net margin of 0.11% and a negative return on equity of 0.65%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 EPS. As a group, sell-side analysts anticipate that SBA Communications Co. will post 7.15 earnings per share for the current year.

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SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By "Building Better Wireless," SBA generates revenue from two primary businesses – site leasing and site development services.

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

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