SBA Communications Corporation (SBAC) Position Lifted by Keybank National Association OH

Keybank National Association OH lifted its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 12.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,380 shares of the technology company’s stock after purchasing an additional 688 shares during the period. Keybank National Association OH’s holdings in SBA Communications Corporation were worth $919,000 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 the stock. Tealwood Asset Management Inc. lifted its position in shares of SBA Communications Corporation by 0.3% during the second quarter. Tealwood Asset Management Inc. now owns 12,115 shares of the technology company’s stock valued at $1,634,000 after purchasing an additional 35 shares in the last quarter. Cadence Capital Management LLC lifted its position in shares of SBA Communications Corporation by 0.8% during the second quarter. Cadence Capital Management LLC now owns 4,860 shares of the technology company’s stock valued at $656,000 after purchasing an additional 40 shares in the last quarter. Advisor Group Inc. lifted its position in shares of SBA Communications Corporation by 9.7% during the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock valued at $172,000 after purchasing an additional 114 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of SBA Communications Corporation by 18.8% during the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock valued at $102,000 after purchasing an additional 120 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of SBA Communications Corporation by 9.5% during the second quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after purchasing an additional 129 shares in the last quarter. 95.41% of the stock is currently owned by institutional investors.

SBA Communications Corporation (SBAC) opened at $165.53 on Wednesday. The firm has a market cap of $19,417.94, a PE ratio of 206.50 and a beta of 0.75. The company has a debt-to-equity ratio of -3.63, a current ratio of 0.32 and a quick ratio of 0.32. SBA Communications Corporation has a 12 month low of $95.76 and a 12 month high of $170.82.

SBA Communications Corporation (NASDAQ:SBAC) last posted its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $0.25 by $1.50. The firm had revenue of $433.90 million during the quarter, compared to the consensus estimate of $431.42 million. SBA Communications Corporation had a net margin of 5.95% and a negative return on equity of 4.71%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) earnings per share. equities research analysts expect that SBA Communications Corporation will post 0.98 EPS for the current fiscal year.

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A number of research firms recently weighed in on SBAC. Royal Bank Of Canada reissued a “buy” rating on shares of SBA Communications Corporation in a research report on Wednesday, August 2nd. Morgan Stanley lifted their price objective on shares of SBA Communications Corporation from $169.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup Inc. lifted their price objective on shares of SBA Communications Corporation from $140.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $160.00 price objective (up previously from $148.00) on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $148.00 price objective on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. SBA Communications Corporation presently has an average rating of “Buy” and an average price target of $152.33.

In related news, Director George R. Krouse, Jr. sold 1,999 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the completion of the transaction, the director now owns 11,999 shares of the company’s stock, valued at $2,033,950.49. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Brian D. Lazarus sold 7,376 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the transaction, the senior vice president now directly owns 17,525 shares of the company’s stock, valued at approximately $2,660,119.75. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

SBA Communications Corporation Profile

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 Corporation (NASDAQ:SBAC)

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