SBA Communications Corporation $SBAC Shares Sold by Partners Group Holding AG

Partners Group Holding AG lessened its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,802 shares of the technology company’s stock after selling 11,496 shares during the quarter. SBA Communications makes up 1.3% of Partners Group Holding AG’s holdings, making the stock its 26th biggest position. Partners Group Holding AG owned about 0.12% of SBA Communications worth $24,130,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of SBA Communications by 3.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,706 shares of the technology company’s stock worth $42,202,000 after buying an additional 5,246 shares in the last quarter. Impax Asset Management Group plc lifted its stake in SBA Communications by 58.2% in the 2nd quarter. Impax Asset Management Group plc now owns 5,501 shares of the technology company’s stock worth $1,292,000 after purchasing an additional 2,023 shares in the last quarter. Donoghue Forlines LLC acquired a new position in shares of SBA Communications during the 2nd quarter worth approximately $2,824,000. Diamond Hill Capital Management Inc. increased its holdings in shares of SBA Communications by 24.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock valued at $358,728,000 after purchasing an additional 366,491 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in SBA Communications by 27.5% during the third quarter. ProShare Advisors LLC now owns 38,988 shares of the technology company’s stock worth $7,538,000 after buying an additional 8,404 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $197.17 on Thursday. The stock has a market capitalization of $21.01 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.91 and a beta of 0.87. The business has a 50-day moving average of $190.40 and a 200 day moving average of $195.42. SBA Communications Corporation has a 12 month low of $177.49 and a 12 month high of $245.16.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SBAC. Barclays dropped their target price on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st. TD Cowen restated a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. Williams Trading set a $237.00 price objective on shares of SBA Communications in a research report on Tuesday, November 4th. BMO Capital Markets decreased their target price on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. Finally, Royal Bank Of Canada cut their price target on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, November 10th. One research 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 stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $235.18.

SBA Communications Company 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.