Chevy Chase Trust Holdings Inc. purchased a new stake in SBA Communications Co. (NASDAQ:SBAC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 104,972 shares of the technology company’s stock, valued at approximately $15,121,000. Chevy Chase Trust Holdings Inc. owned about 0.09% of SBA Communications as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SBAC. Iridian Asset Management LLC CT increased its stake in shares of SBA Communications by 88.1% in the 2nd quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock valued at $356,298,000 after purchasing an additional 1,237,008 shares during the last quarter. PointState Capital LP bought a new position in shares of SBA Communications in the 2nd quarter valued at $149,091,000. Victory Capital Management Inc. grew its position in SBA Communications by 147,836.3% during the 2nd quarter. Victory Capital Management Inc. now owns 687,904 shares of the technology company’s stock worth $92,799,000 after acquiring an additional 687,439 shares during the last quarter. American Century Companies Inc. grew its position in SBA Communications by 41.4% during the 2nd quarter. American Century Companies Inc. now owns 2,230,739 shares of the technology company’s stock worth $300,927,000 after acquiring an additional 652,647 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in SBA Communications by 1,343.6% during the 2nd quarter. Voya Investment Management LLC now owns 657,010 shares of the technology company’s stock worth $88,631,000 after acquiring an additional 611,497 shares during the last quarter. Institutional investors own 96.15% of the company’s stock.

A number of equities research analysts recently weighed in on SBAC shares. Cowen restated a “buy” rating and set a $170.00 price objective (up previously from $155.00) on shares of SBA Communications in a research report on Tuesday, December 5th. Royal Bank of Canada restated a “buy” rating and set a $200.00 price objective on shares of SBA Communications in a research report on Thursday, November 30th. KeyCorp restated a “buy” rating and set a $179.00 price objective (up previously from $170.00) on shares of SBA Communications in a research report on Wednesday, November 1st. UBS started coverage on SBA Communications in a research report on Wednesday, October 18th. They set a “buy” rating and a $176.00 price objective on the stock. Finally, Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $159.40.

In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total transaction of $338,850.49. Following the transaction, the director now directly owns 11,999 shares of the company’s stock, valued at approximately $2,033,950.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by insiders.

SBA Communications Co. (NASDAQ:SBAC) opened at $165.67 on Wednesday. The company has a market capitalization of $19,416.76, a PE ratio of 206.49 and a beta of 0.77. SBA Communications Co. has a twelve month low of $100.31 and a twelve month high of $173.97. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $1.50. The firm had revenue of $433.90 million for the quarter, compared to the consensus estimate of $431.42 million. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) EPS. equities analysts anticipate that SBA Communications Co. will post 0.96 earnings per share for the current fiscal year.

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About SBA Communications

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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