SBA Communications Corporation (SBAC) is Land & Buildings Investment Management LLC’s 9th Largest Position

Land & Buildings Investment Management LLC raised its stake in SBA Communications Corporation (NASDAQ:SBAC) by 34.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,271 shares of the technology company’s stock after acquiring an additional 26,371 shares during the quarter. SBA Communications Corporation makes up approximately 3.6% of Land & Buildings Investment Management LLC’s investment portfolio, making the stock its 9th largest position. Land & Buildings Investment Management LLC owned 0.09% of SBA Communications Corporation worth $14,732,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of SBA Communications Corporation by 2.8% in the second quarter. Vanguard Group Inc. now owns 9,869,843 shares of the technology company’s stock valued at $1,331,442,000 after buying an additional 272,381 shares during the period. William Blair Investment Management LLC increased its stake in shares of SBA Communications Corporation by 8.7% in the second quarter. William Blair Investment Management LLC now owns 2,682,091 shares of the technology company’s stock valued at $361,814,000 after buying an additional 215,709 shares during the period. Iridian Asset Management LLC CT increased its stake in shares of SBA Communications Corporation by 88.1% in the second quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock valued at $356,298,000 after buying an additional 1,237,008 shares during the period. American Century Companies Inc. increased its stake in shares of SBA Communications Corporation by 14.4% in the third quarter. American Century Companies Inc. now owns 2,552,824 shares of the technology company’s stock valued at $367,734,000 after buying an additional 322,085 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of SBA Communications Corporation by 11.6% in the second quarter. Jennison Associates LLC now owns 2,150,624 shares of the technology company’s stock valued at $290,119,000 after buying an additional 223,805 shares during the period. 96.63% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on SBAC. Morgan Stanley upped their price objective on SBA Communications Corporation from $169.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. KeyCorp reaffirmed a “buy” rating and issued a $179.00 price objective (up previously from $170.00) on shares of SBA Communications Corporation in a research note on Wednesday, November 1st. UBS AG began coverage on SBA Communications Corporation in a research note on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price objective for the company. Cowen and Company reaffirmed a “buy” rating and issued a $147.00 price objective on shares of SBA Communications Corporation in a research note on Tuesday, October 17th. Finally, Zacks Investment Research raised SBA Communications Corporation from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $152.33.

SBA Communications Corporation (NASDAQ:SBAC) traded up $0.47 during trading on Tuesday, hitting $165.68. The company’s stock had a trading volume of 692,900 shares, compared to its average volume of 1,211,323. The company has a market cap of $19,470.00, a PE ratio of 206.51 and a beta of 0.75. SBA Communications Corporation has a 52-week low of $95.76 and a 52-week high of $170.82. The company has a debt-to-equity ratio of -3.63, a current ratio of 0.32 and a quick ratio of 0.32.

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

In other SBA Communications Corporation 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 transaction, the director now directly owns 11,999 shares in the company, valued at approximately $2,033,950.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Brian D. Lazarus sold 7,376 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $151.79, for a total value of $1,119,603.04. Following the transaction, the senior vice president now owns 17,525 shares in the company, valued at $2,660,119.75. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

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About SBA Communications Corporation

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 Corporation (NASDAQ:SBAC)

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