SBA Communications Corporation $SBAC Shares Bought by National Pension Service

National Pension Service grew its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 187,654 shares of the technology company’s stock after purchasing an additional 6,672 shares during the period. National Pension Service owned approximately 0.17% of SBA Communications worth $36,283,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC acquired a new position in SBA Communications in the third quarter valued at about $27,000. CVA Family Office LLC lifted its holdings in shares of SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after acquiring an additional 67 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares during the last quarter. SJS Investment Consulting Inc. purchased a new position in shares of SBA Communications during the 3rd quarter worth approximately $48,000. Finally, IFP Advisors Inc increased its holdings in SBA Communications by 75.9% in the 2nd quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock valued at $55,000 after purchasing an additional 101 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $181.14 on Tuesday. The business has a 50-day simple moving average of $189.60 and a 200-day simple moving average of $199.44. SBA Communications Corporation has a one year low of $179.89 and a one year high of $245.16. The company has a market cap of $19.30 billion, a PE ratio of 23.62, a P/E/G ratio of 1.75 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.09. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The firm had revenue of $732.33 million for the quarter, compared to analysts’ expectations of $715.65 million. During the same quarter last year, the company earned $3.32 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBAC. Scotiabank lowered their price target on SBA Communications from $252.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. Royal Bank Of Canada dropped their target price on SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Citigroup cut their price target on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. Wells Fargo & Company lowered 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 research note on Tuesday, December 16th. Finally, UBS Group cut their target price on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a research note 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.