Forsta AP Fonden reduced its holdings in SBA Communications Co. (NASDAQ:SBAC) by 24.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,100 shares of the technology company’s stock after selling 36,900 shares during the period. Forsta AP Fonden’s holdings in SBA Communications were worth $18,149,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SBAC. Ameriprise Financial Inc. increased its position in shares of SBA Communications by 88.9% during the third quarter. Ameriprise Financial Inc. now owns 1,070,110 shares of the technology company’s stock valued at $154,151,000 after purchasing an additional 503,526 shares during the period. Dimensional Fund Advisors LP increased its position in shares of SBA Communications by 70.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,166,994 shares of the technology company’s stock valued at $168,105,000 after purchasing an additional 480,852 shares during the period. JPMorgan Chase & Co. increased its position in shares of SBA Communications by 79.2% during the third quarter. JPMorgan Chase & Co. now owns 938,873 shares of the technology company’s stock valued at $134,971,000 after purchasing an additional 415,078 shares during the period. Bank of New York Mellon Corp increased its position in shares of SBA Communications by 83.0% during the third quarter. Bank of New York Mellon Corp now owns 887,981 shares of the technology company’s stock valued at $127,913,000 after purchasing an additional 402,820 shares during the period. Finally, Brookfield Asset Management Inc. increased its position in shares of SBA Communications by 37.2% during the second quarter. Brookfield Asset Management Inc. now owns 1,192,587 shares of the technology company’s stock valued at $160,880,000 after purchasing an additional 323,300 shares during the period. 95.08% of the stock is currently owned by institutional investors.

Shares of SBA Communications Co. (NASDAQ SBAC) opened at $161.42 on Wednesday. The company has a debt-to-equity ratio of -3.63, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $18,763.23, a price-to-earnings ratio of 192.17 and a beta of 0.85. SBA Communications Co. has a one year low of $107.30 and a one year high of $177.67.

A number of research firms have recently issued reports on SBAC. BidaskClub upgraded SBA Communications from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Royal Bank of Canada restated a “buy” rating and set a $200.00 price objective on shares of SBA Communications in a research report on Thursday, November 30th. KeyCorp restated an “overweight” rating and set a $192.00 price objective (up from $179.00) on shares of SBA Communications in a research report on Monday, November 27th. Zacks Investment Research cut SBA Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. Finally, Morgan Stanley boosted their price objective on SBA Communications from $169.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $165.07.

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SBA Communications Company 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 (NASDAQ:SBAC)

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