Skylands Capital LLC Has $16.27 Million Stock Holdings in SBA Communications Corporation $SBAC

Skylands Capital LLC raised its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 71.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,130 shares of the technology company’s stock after acquiring an additional 35,135 shares during the period. SBA Communications comprises 2.2% of Skylands Capital LLC’s holdings, making the stock its 10th biggest holding. Skylands Capital LLC owned approximately 0.08% of SBA Communications worth $16,267,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SBAC. MAI Capital Management boosted its stake in shares of SBA Communications by 7.9% in the 2nd quarter. MAI Capital Management now owns 680 shares of the technology company’s stock valued at $160,000 after purchasing an additional 50 shares in the last quarter. Fortune Financial Advisors LLC lifted its stake in SBA Communications by 2.4% in the 3rd quarter. Fortune Financial Advisors LLC now owns 2,237 shares of the technology company’s stock valued at $432,000 after purchasing an additional 53 shares during the last quarter. Penserra Capital Management LLC lifted its stake in SBA Communications by 12.5% in the 2nd quarter. Penserra Capital Management LLC now owns 587 shares of the technology company’s stock valued at $137,000 after purchasing an additional 65 shares during the last quarter. CVA Family Office LLC boosted its position in SBA Communications by 106.3% in the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after buying an additional 67 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its position in SBA Communications by 4.6% in the second quarter. J.W. Cole Advisors Inc. now owns 1,532 shares of the technology company’s stock valued at $360,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Up 2.4%

Shares of SBAC stock opened at $189.08 on Wednesday. SBA Communications Corporation has a 1-year low of $177.49 and a 1-year high of $245.16. The stock has a market cap of $20.15 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.75 and a beta of 0.87. The stock has a 50-day moving average of $188.53 and a 200-day moving average of $197.23.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SBAC shares. UBS Group lowered their price target on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, January 20th. Scotiabank reduced their price objective on SBA Communications from $252.00 to $233.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 14th. Morgan Stanley lowered their target price on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, October 16th. Williams Trading set a $237.00 price target on SBA Communications in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company reduced their price target on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.18.

SBA Communications Company 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.