Centersquare Investment Management LLC Has $29.79 Million Stock Holdings in SBA Communications Corporation $SBAC

Centersquare Investment Management LLC trimmed its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,065 shares of the technology company’s stock after selling 7,622 shares during the quarter. Centersquare Investment Management LLC owned 0.14% of SBA Communications worth $29,788,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SBAC. Quent Capital LLC acquired a new position in shares of SBA Communications during the third quarter worth $27,000. Geneos Wealth Management Inc. raised its position in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the last quarter. SJS Investment Consulting Inc. acquired a new position in SBA Communications during the 3rd quarter worth about $48,000. Center for Financial Planning Inc. bought a new stake in shares of SBA Communications in the 3rd quarter valued at about $50,000. Finally, Avalon Trust Co acquired a new stake in shares of SBA Communications in the third quarter valued at about $58,000. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SBAC shares. Wells Fargo & Company reduced their target price on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 16th. Scotiabank reduced their price objective on shares of SBA Communications from $252.00 to $233.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 14th. Barclays lowered their target price on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research note on Monday, December 1st. Royal Bank Of Canada dropped their target price on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. lowered their price objective on SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. One research 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.18.

SBA Communications Stock Down 2.2%

Shares of NASDAQ SBAC opened at $197.17 on Thursday. The firm has a market cap of $21.01 billion, a PE ratio of 25.71, a P/E/G ratio of 1.91 and a beta of 0.87. The company’s fifty day simple moving average is $190.40 and its 200 day simple moving average is $195.42. SBA Communications Corporation has a 12-month low of $177.49 and a 12-month high of $245.16.

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.