Aberdeen Group plc Buys 20,648 Shares of SBA Communications Corporation $SBAC

Aberdeen Group plc raised its stake in SBA Communications Corporation (NASDAQ:SBAC) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,159 shares of the technology company’s stock after purchasing an additional 20,648 shares during the period. Aberdeen Group plc owned approximately 0.17% of SBA Communications worth $34,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SBAC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in SBA Communications by 3.0% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,706 shares of the technology company’s stock valued at $42,202,000 after purchasing an additional 5,246 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of SBA Communications by 58.2% during the second quarter. Impax Asset Management Group plc now owns 5,501 shares of the technology company’s stock worth $1,292,000 after buying an additional 2,023 shares in the last quarter. Donoghue Forlines LLC bought a new position in shares of SBA Communications in the second quarter valued at approximately $2,824,000. Diamond Hill Capital Management Inc. boosted its holdings in shares of SBA Communications by 24.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after acquiring an additional 366,491 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new position in shares of SBA Communications in the 3rd quarter worth approximately $2,618,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.7%

NASDAQ:SBAC opened at $200.77 on Tuesday. SBA Communications Corporation has a 1-year low of $177.49 and a 1-year high of $245.16. The firm has a market capitalization of $21.39 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.90 and a beta of 0.87. The business’s 50-day moving average price is $189.21 and its two-hundred day moving average price is $196.41.

Wall Street Analysts Forecast Growth

SBAC has been the subject of several research analyst reports. Royal Bank Of Canada cut their price objective 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. Wells Fargo & Company cut their price target on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday, December 16th. Barclays decreased their price objective on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock 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 report on Tuesday, November 4th. Finally, TD Cowen reiterated a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. 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. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $235.18.

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.