13,882 Shares in SBA Communications Corporation $SBAC Purchased by ING Groep NV

ING Groep NV acquired a new position in SBA Communications Corporation (NASDAQ:SBAC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,882 shares of the technology company’s stock, valued at approximately $2,684,000.

Several other large investors also recently bought and sold shares of the company. MAI Capital Management raised its holdings in shares of SBA Communications by 7.9% during the second quarter. MAI Capital Management now owns 680 shares of the technology company’s stock valued at $160,000 after acquiring an additional 50 shares during the last quarter. Fortune Financial Advisors LLC increased its position in shares of SBA Communications by 2.4% during the third 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 raised its stake in SBA Communications by 12.5% in the 2nd quarter. Penserra Capital Management LLC now owns 587 shares of the technology company’s stock valued at $137,000 after purchasing an additional 65 shares during the last quarter. CVA Family Office LLC raised its stake in SBA Communications by 106.3% in 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 during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its holdings in SBA Communications by 4.6% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 1,532 shares of the technology company’s stock valued at $360,000 after purchasing an additional 68 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SBAC. UBS Group dropped their target price on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, January 20th. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. BMO Capital Markets dropped their price objective on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Wells Fargo & Company decreased their target price on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 16th. Finally, Barclays lowered their target price on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.18.

SBA Communications Price Performance

Shares of SBAC stock opened at $200.77 on Friday. The company has a market capitalization of $21.39 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.89 and a beta of 0.87. The firm’s 50-day moving average is $189.01 and its two-hundred day moving average is $197.02. SBA Communications Corporation has a 12 month low of $177.49 and a 12 month high of $245.16.

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.