Caprock Group LLC Makes New Investment in SBA Communications Corporation $SBAC

Caprock Group LLC bought a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,645 shares of the technology company’s stock, valued at approximately $1,987,000.

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

SBA Communications Stock Performance

SBA Communications stock opened at $200.77 on Friday. SBA Communications Corporation has a fifty-two week low of $177.49 and a fifty-two week high of $245.16. The stock has a market cap of $21.39 billion, a P/E ratio of 26.18, a PEG ratio of 1.89 and a beta of 0.87. The firm’s fifty day moving average price is $189.01 and its 200-day moving average price is $197.02.

Analysts Set New Price Targets

SBAC has been the topic of several recent research reports. UBS Group dropped their price objective on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. TD Cowen reissued a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. JPMorgan Chase & Co. cut their price objective on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Williams Trading set a $237.00 target price on shares of SBA Communications in a report on Tuesday, November 4th. Finally, Wells Fargo & Company dropped their target price on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus target price of $235.18.

About SBA Communications

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.