Swiss National Bank trimmed its holdings in SBA Communications Co. (NASDAQ:SBAC) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 443,651 shares of the technology company’s stock after selling 2,800 shares during the quarter. Swiss National Bank owned approximately 0.38% of SBA Communications worth $72,475,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in SBA Communications in the 4th quarter valued at $108,000. Sun Life Financial INC purchased a new position in SBA Communications in the 3rd quarter valued at $127,000. Advisor Group Inc. grew its position in SBA Communications by 9.7% in the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock valued at $172,000 after buying an additional 114 shares during the last quarter. Toronto Dominion Bank grew its position in SBA Communications by 9.5% in the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after buying an additional 129 shares during the last quarter. Finally, MAI Capital Management purchased a new position in SBA Communications in the 4th quarter valued at $204,000. 95.08% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on SBAC shares. Morgan Stanley lifted their price objective on shares of SBA Communications from $169.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. UBS Group started coverage on shares of SBA Communications in a research report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price objective on the stock. BidaskClub lowered shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. KeyCorp reiterated a “buy” rating and issued a $179.00 price objective (up from $170.00) on shares of SBA Communications in a research report on Wednesday, November 1st. Finally, Cowen restated a “buy” rating and set a $170.00 target price (up from $155.00) on shares of SBA Communications in a research report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $165.07.
Shares of SBA Communications Co. (SBAC) opened at $162.56 on Thursday. The company has a market cap of $18,763.23, a price-to-earnings ratio of 193.52 and a beta of 0.85. SBA Communications Co. has a 1 year low of $107.30 and a 1 year high of $177.67. 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 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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