Tobam Has $112,000 Stock Holdings in SBA Communications Corporation $SBAC

Tobam trimmed its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 92.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 579 shares of the technology company’s stock after selling 6,643 shares during the period. Tobam’s holdings in SBA Communications were worth $112,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of 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 valued at $4,170,817,000 after buying an additional 93,582 shares in the last quarter. Dodge & Cox lifted its position in shares of SBA Communications by 1.5% in the 2nd quarter. Dodge & Cox now owns 8,608,494 shares of the technology company’s stock valued at $2,021,619,000 after acquiring an additional 123,230 shares in the last quarter. State Street Corp boosted its stake 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 purchasing an additional 24,793 shares during the period. Diamond Hill Capital Management Inc. grew its position in SBA Communications by 24.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after purchasing an additional 366,491 shares in the last quarter. Finally, Invesco Ltd. grew its position in SBA Communications by 19.8% during the 2nd quarter. Invesco Ltd. now owns 1,573,538 shares of the technology company’s stock worth $369,530,000 after purchasing an additional 259,876 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. Scotiabank decreased their price objective on SBA Communications from $252.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. TD Cowen reaffirmed a “buy” rating on shares of SBA Communications in a research note on Tuesday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Finally, UBS Group decreased their price target on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, January 20th. One 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 company’s stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $235.18.

SBA Communications Price Performance

SBAC opened at $200.77 on Monday. The company has a market capitalization of $21.39 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87. SBA Communications Corporation has a fifty-two week low of $177.49 and a fifty-two week high of $245.16. The business has a 50-day moving average of $189.01 and a 200-day moving average of $196.58.

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.