SBA Communications Corporation $SBAC Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,163,536 shares of the technology company’s stock after purchasing an additional 403,285 shares during the period. Vanguard Group Inc. owned 16.92% of SBA Communications worth $3,511,920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SBAC. ABN Amro Investment Solutions acquired a new position in shares of SBA Communications during the third quarter valued at approximately $236,000. Aberdeen Group plc raised its stake in SBA Communications by 12.9% in the 3rd quarter. Aberdeen Group plc now owns 180,159 shares of the technology company’s stock valued at $34,834,000 after purchasing an additional 20,648 shares during the last quarter. Naviter Wealth LLC lifted its holdings in SBA Communications by 7.2% in the 3rd quarter. Naviter Wealth LLC now owns 7,361 shares of the technology company’s stock valued at $1,423,000 after purchasing an additional 495 shares in the last quarter. Metis Global Partners LLC boosted its stake in SBA Communications by 3.1% during the 3rd quarter. Metis Global Partners LLC now owns 5,960 shares of the technology company’s stock worth $1,152,000 after purchasing an additional 181 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of SBA Communications by 4.6% during the third quarter. Public Sector Pension Investment Board now owns 23,126 shares of the technology company’s stock worth $4,471,000 after buying an additional 1,023 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

SBAC stock opened at $197.46 on Thursday. SBA Communications Corporation has a one year low of $177.49 and a one year high of $245.16. The firm has a market cap of $21.04 billion, a PE ratio of 25.74, a PEG ratio of 1.93 and a beta of 0.87. The firm’s 50 day moving average price is $189.65 and its 200-day moving average price is $196.24.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SBAC shares. BMO Capital Markets decreased their price target on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Barclays decreased their target price on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. Wells Fargo & Company lowered their target price on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 16th. TD Cowen reaffirmed a “buy” rating on shares of SBA Communications in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. One investment 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 stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.18.

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.