Reaves W H & Co. Inc. Sells 25,804 Shares of SBA Communications Corporation $SBAC

Reaves W H & Co. Inc. trimmed its position in SBA Communications Corporation (NASDAQ:SBAC) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,844 shares of the technology company’s stock after selling 25,804 shares during the quarter. SBA Communications accounts for 1.4% of Reaves W H & Co. Inc.’s portfolio, making the stock its 24th largest position. Reaves W H & Co. Inc. owned about 0.38% of SBA Communications worth $78,663,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC acquired a new position in shares of SBA Communications in the 3rd quarter valued at $27,000. CVA Family Office LLC raised 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 worth $31,000 after purchasing an additional 67 shares in the last quarter. Geneos Wealth Management Inc. raised its position in SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares in the last quarter. SJS Investment Consulting Inc. acquired a new stake in SBA Communications during the third quarter valued at approximately $48,000. Finally, IFP Advisors Inc boosted its holdings in SBA Communications by 75.9% during the second quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock valued at $55,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Williams Trading set a $237.00 target price on SBA Communications in a report on Tuesday, November 4th. Citigroup lowered their price target on SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. BMO Capital Markets reduced their target price on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. One 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.18.

SBA Communications Stock Performance

SBA Communications stock opened at $184.63 on Tuesday. The business’s fifty day moving average is $188.49 and its two-hundred day moving average is $197.54. The firm has a market cap of $19.67 billion, a P/E ratio of 24.07, a P/E/G ratio of 1.71 and a beta of 0.87. SBA Communications Corporation has a 52 week low of $177.49 and a 52 week high of $245.16.

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.