SBA Communications Co. (SBAC) Position Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 111.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,811 shares of the technology company’s stock after acquiring an additional 42,564 shares during the quarter. Teacher Retirement System of Texas’ holdings in SBA Communications were worth $16,135,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SBAC. Toronto Dominion Bank grew its holdings in shares of SBA Communications by 46.3% during the 1st quarter. Toronto Dominion Bank now owns 106,397 shares of the technology company’s stock worth $21,238,000 after purchasing an additional 33,679 shares in the last quarter. First Allied Advisory Services Inc. acquired a new stake in shares of SBA Communications during the 1st quarter worth $209,000. Nissay Asset Management Corp Japan ADV grew its holdings in shares of SBA Communications by 84.8% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 48,719 shares of the technology company’s stock worth $9,727,000 after purchasing an additional 22,351 shares in the last quarter. Carillon Tower Advisers Inc. grew its holdings in shares of SBA Communications by 10.4% during the 1st quarter. Carillon Tower Advisers Inc. now owns 604,128 shares of the technology company’s stock worth $120,620,000 after purchasing an additional 56,680 shares in the last quarter. Finally, Greenwood Capital Associates LLC acquired a new stake in shares of SBA Communications during the 1st quarter worth $422,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of SBAC stock traded down $1.07 on Friday, hitting $211.24. 6,561 shares of the company’s stock were exchanged, compared to its average volume of 543,307. SBA Communications Co. has a 12 month low of $146.13 and a 12 month high of $213.67. The company has a market cap of $23.69 billion, a P/E ratio of 27.77, a P/E/G ratio of 2.71 and a beta of 0.82.



SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, April 29th. The technology company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($1.66). SBA Communications had a negative return on equity of 1.44% and a net margin of 2.20%. The business had revenue of $493.29 million for the quarter, compared to the consensus estimate of $481.06 million. During the same quarter in the prior year, the company earned $1.85 earnings per share. SBA Communications’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts anticipate that SBA Communications Co. will post 7.75 EPS for the current year.

Several analysts have recently issued reports on the company. ValuEngine raised SBA Communications from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. BidaskClub raised SBA Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 9th. KeyCorp increased their target price on SBA Communications from $195.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. They noted that the move was a valuation call. Zacks Investment Research lowered SBA Communications from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Finally, Morgan Stanley increased their target price on SBA Communications from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. SBA Communications presently has an average rating of “Buy” and a consensus price target of $195.56.

In other SBA Communications news, Director Kevin L. Beebe sold 440 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $189.86, for a total value of $83,538.40. Following the completion of the transaction, the director now directly owns 13,369 shares in the company, valued at $2,538,238.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian C. Carr sold 700 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $206.50, for a total value of $144,550.00. Following the completion of the transaction, the director now owns 2,590 shares of the company’s stock, valued at $534,835. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,916 shares of company stock valued at $47,405,473. 2.50% of the stock is owned by corporate insiders.

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SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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

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