Teacher Retirement System of Texas purchased a new position in SBA Communications Corporation (NASDAQ:SBAC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 27,697 shares of the technology company’s stock, valued at approximately $3,990,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Iridian Asset Management LLC CT increased its position in SBA Communications Corporation by 88.1% during the 2nd quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock valued at $356,298,000 after buying an additional 1,237,008 shares in the last quarter. PointState Capital LP acquired a new position in SBA Communications Corporation during the 2nd quarter valued at about $149,091,000. Victory Capital Management Inc. increased its position in SBA Communications Corporation by 147,836.3% during the 2nd quarter. Victory Capital Management Inc. now owns 687,904 shares of the technology company’s stock valued at $92,799,000 after buying an additional 687,439 shares in the last quarter. American Century Companies Inc. increased its position in SBA Communications Corporation by 41.4% during the 2nd quarter. American Century Companies Inc. now owns 2,230,739 shares of the technology company’s stock valued at $300,927,000 after buying an additional 652,647 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in SBA Communications Corporation by 1,343.6% during the 2nd quarter. Voya Investment Management LLC now owns 657,010 shares of the technology company’s stock valued at $88,631,000 after buying an additional 611,497 shares in the last quarter. 96.63% of the stock is owned by hedge funds and other institutional investors.

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Shares of SBA Communications Corporation (NASDAQ:SBAC) opened at $165.21 on Monday. SBA Communications Corporation has a one year low of $95.76 and a one year high of $170.82. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. The company has a market capitalization of $19,419.12, a PE ratio of 206.51 and a beta of 0.75.

SBA Communications Corporation (NASDAQ:SBAC) last issued its earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $1.50. SBA Communications Corporation had a negative return on equity of 4.71% and a net margin of 5.95%. The firm had revenue of $433.90 million for the quarter, compared to the consensus estimate of $431.42 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. research analysts expect that SBA Communications Corporation will post 0.96 EPS for the current fiscal year.

In other news, SVP Brian D. Lazarus sold 7,376 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $151.79, for a total value of $1,119,603.04. Following the sale, the senior vice president now owns 17,525 shares in the company, valued at $2,660,119.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George R. Krouse, Jr. sold 1,999 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total value of $338,850.49. Following the completion of the sale, the director now owns 11,999 shares in the company, valued at approximately $2,033,950.49. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on SBAC. Morgan Stanley upped their target price on SBA Communications Corporation from $169.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. KeyCorp reaffirmed a “buy” rating and set a $179.00 target price (up from $170.00) on shares of SBA Communications Corporation in a research report on Wednesday, November 1st. Citigroup Inc. upped their target price on SBA Communications Corporation from $140.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, August 28th. Zacks Investment Research raised SBA Communications Corporation from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $147.00 target price on shares of SBA Communications Corporation in a research report on Tuesday, October 17th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $152.33.

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.

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Institutional Ownership by Quarter for SBA Communications Corporation (NASDAQ:SBAC)

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