Vanguard Group Inc. Raises Stock Holdings in SBA Communications Corporation $SBAC

Vanguard Group Inc. boosted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,163,536 shares of the technology company’s stock after buying an additional 403,285 shares during the quarter. Vanguard Group Inc. owned 0.17% of SBA Communications worth $3,511,920,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quent Capital LLC purchased a new position in shares of SBA Communications during the 3rd quarter worth approximately $27,000. CVA Family Office LLC lifted its stake in SBA Communications by 106.3% during the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after purchasing an additional 67 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the period. SJS Investment Consulting Inc. acquired a new stake in shares of SBA Communications in the third quarter valued at $48,000. Finally, Center for Financial Planning Inc. acquired a new stake in shares of SBA Communications in the third quarter valued at $50,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of research analyst reports. Barclays lowered their target price on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st. BMO Capital Markets lowered their price objective on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Wells Fargo & Company dropped their price objective on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Finally, UBS Group decreased their price target on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.18.

SBA Communications Stock Performance

SBAC stock opened at $197.46 on Thursday. The company’s 50 day moving average price is $189.65 and its 200 day moving average price is $196.24. SBA Communications Corporation has a fifty-two week low of $177.49 and a fifty-two week high of $245.16. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 1.93 and a beta of 0.87.

SBA Communications 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.