Forsta AP Fonden trimmed its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 24.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,100 shares of the technology company’s stock after selling 36,900 shares during the quarter. Forsta AP Fonden owned approximately 0.09% of SBA Communications worth $18,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of SBA Communications during the 4th quarter valued at about $108,000. Sun Life Financial INC acquired a new stake in shares of SBA Communications during the 3rd quarter valued at about $127,000. Advisor Group Inc. lifted its holdings in shares of SBA Communications by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock valued at $172,000 after buying an additional 114 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of SBA Communications by 9.5% during the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after buying an additional 129 shares during the last quarter. Finally, MAI Capital Management acquired a new stake in shares of SBA Communications during the 4th quarter valued at about $204,000. Institutional investors and hedge funds own 95.08% of the company’s stock.
SBA Communications Co. (SBAC) opened at $161.42 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. SBA Communications Co. has a one year low of $107.30 and a one year high of $177.67. The firm has a market capitalization of $18,763.23, a P/E ratio of 192.17 and a beta of 0.85.
Several equities research analysts have recently issued reports on the company. Barclays reiterated a “buy” rating and set a $178.00 price target on shares of SBA Communications in a report on Friday, January 19th. UBS Group assumed coverage on SBA Communications in a research note on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price objective on the stock. KeyCorp reissued an “overweight” rating and issued a $192.00 price objective (up from $179.00) on shares of SBA Communications in a research note on Monday, November 27th. Cowen reissued a “buy” rating and issued a $147.00 price objective on shares of SBA Communications in a research note on Tuesday, October 17th. Finally, Zacks Investment Research downgraded SBA Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. SBA Communications has an average rating of “Buy” and an average price target of $165.07.
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.
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