Caprock Group LLC Takes Position in SBA Communications Corporation $SBAC

Caprock Group LLC bought a new position in SBA Communications Corporation (NASDAQ:SBAC) in the 3rd quarter, Holdings Channel.com reports. The firm bought 9,645 shares of the technology company’s stock, valued at approximately $1,987,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in SBA Communications by 0.5% during the second quarter. Vanguard Group Inc. now owns 17,760,251 shares of the technology company’s stock worth $4,170,817,000 after purchasing an additional 93,582 shares during the last quarter. Dodge & Cox raised its holdings in shares of SBA Communications by 1.5% during the 2nd quarter. Dodge & Cox now owns 8,608,494 shares of the technology company’s stock valued at $2,021,619,000 after buying an additional 123,230 shares in the last quarter. State Street Corp lifted its position in SBA Communications by 0.5% in the 2nd quarter. State Street Corp now owns 4,613,181 shares of the technology company’s stock worth $1,083,359,000 after buying an additional 24,793 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in SBA Communications by 24.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after buying an additional 366,491 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in SBA Communications by 19.8% in the second quarter. Invesco Ltd. now owns 1,573,538 shares of the technology company’s stock worth $369,530,000 after buying an additional 259,876 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group decreased their price target 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Royal Bank Of Canada lowered their price target on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. TD Cowen reaffirmed a “buy” rating on shares of SBA Communications in a research note on Tuesday, November 4th. Finally, BMO Capital Markets lowered their target price on 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.18.

SBA Communications Trading Up 0.7%

SBAC stock opened at $200.77 on Friday. The stock has a market capitalization of $21.39 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.89 and a beta of 0.87. The firm’s 50-day moving average price is $189.01 and its two-hundred day moving average price 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.