SBA Communications Corporation $SBAC Shares Acquired by Cibc World Market Inc.

Cibc World Market Inc. grew its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 137.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,056 shares of the technology company’s stock after purchasing an additional 16,800 shares during the period. Cibc World Market Inc.’s holdings in SBA Communications were worth $5,618,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBAC. MAI Capital Management boosted its holdings in SBA Communications by 7.9% in the second quarter. MAI Capital Management now owns 680 shares of the technology company’s stock worth $160,000 after acquiring an additional 50 shares in the last quarter. Fortune Financial Advisors LLC boosted its stake in SBA Communications by 2.4% in the 3rd quarter. Fortune Financial Advisors LLC now owns 2,237 shares of the technology company’s stock worth $432,000 after purchasing an additional 53 shares in the last quarter. Penserra Capital Management LLC grew its position in SBA Communications by 12.5% during the 2nd quarter. Penserra Capital Management LLC now owns 587 shares of the technology company’s stock worth $137,000 after purchasing an additional 65 shares during the last quarter. CVA Family Office LLC increased its stake in SBA Communications by 106.3% during the 2nd 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 in the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in shares of SBA Communications by 4.6% in the second quarter. J.W. Cole Advisors Inc. now owns 1,532 shares of the technology company’s stock worth $360,000 after buying an additional 68 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Up 0.7%

SBA Communications stock opened at $200.77 on Friday. SBA Communications Corporation has a 52 week low of $177.49 and a 52 week high of $245.16. The firm has a market cap of $21.39 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87. The business’s 50-day moving average price is $189.01 and its 200 day moving average price is $196.79.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SBAC. JPMorgan Chase & Co. dropped their price objective 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. Scotiabank cut their price objective on SBA Communications from $252.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Royal Bank Of Canada reduced their price objective on SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. Finally, BMO Capital Markets cut their price target on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.