SBA Communications Corporation $SBAC Stake Reduced by Tobam

Tobam trimmed its stake in SBA Communications Corporation (NASDAQ:SBAC) by 92.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 579 shares of the technology company’s stock after selling 6,643 shares during the quarter. Tobam’s holdings in SBA Communications were worth $112,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SBAC. Jones Financial Companies Lllp lifted its position in SBA Communications by 272.8% in the 1st 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 during the last quarter. Empowered Funds LLC increased its stake in shares of SBA Communications by 12.6% in the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after purchasing an additional 229 shares during the period. Focus Partners Wealth increased its stake in shares of SBA Communications by 9.0% in the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after purchasing an additional 266 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of SBA Communications by 105.0% during the first 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. Finally, IFP Advisors Inc boosted its position in shares of SBA Communications by 75.9% during the second quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock worth $55,000 after buying an additional 101 shares during the period. Institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the topic of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. BMO Capital Markets lowered their price target on SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. Williams Trading set a $237.00 price objective on shares of SBA Communications in a report on Tuesday, November 4th. JPMorgan Chase & Co. decreased their target price on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Finally, Scotiabank dropped their price target on shares of SBA Communications from $252.00 to $233.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 14th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.18.

SBA Communications Stock Up 0.7%

NASDAQ:SBAC opened at $200.77 on Monday. The business’s 50-day moving average price is $189.01 and its 200 day moving average price is $196.58. 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 P/E ratio of 26.18, a PEG ratio of 1.90 and a beta of 0.87.

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.