14,280 Shares in SBA Communications Corporation $SBAC Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new position in shares of SBA Communications Corporation (NASDAQ:SBAC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,280 shares of the technology company’s stock, valued at approximately $2,761,000. SBA Communications comprises about 0.4% of Fox Run Management L.L.C.’s portfolio, making the stock its 5th biggest position.

A number of other institutional investors also recently modified their holdings of SBAC. Jones Financial Companies Lllp increased its holdings in shares of SBA Communications by 272.8% in the first quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after purchasing an additional 551 shares in the last quarter. Empowered Funds LLC boosted its position in SBA Communications by 12.6% in the 1st quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after buying an additional 229 shares during the last quarter. Focus Partners Wealth boosted its position in SBA Communications by 9.0% in the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after buying an additional 266 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of SBA Communications by 105.0% in 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 period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of SBA Communications by 0.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,547 shares of the technology company’s stock worth $52,733,000 after acquiring an additional 810 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SBAC has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. UBS Group reduced their target price on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, January 20th. Wells Fargo & Company lowered their price target on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 16th. TD Cowen restated a “buy” rating on shares of SBA Communications in a report on Tuesday, November 4th. Finally, Barclays reduced their price objective on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.18.

SBA Communications Price Performance

SBA Communications stock opened at $201.60 on Wednesday. The firm has a market capitalization of $21.48 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 1.89 and a beta of 0.87. The company’s 50 day simple moving average is $190.28 and its 200 day simple moving average is $195.41. SBA Communications Corporation has a fifty-two week low of $177.49 and a fifty-two 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.