Blue Trust Inc. Acquires 327 Shares of SBA Communications Co. (NASDAQ:SBAC)

Blue Trust Inc. grew its stake in SBA Communications Co. (NASDAQ:SBAC) by 13.7% during the 4th quarter, HoldingsChannel reports. The firm owned 2,716 shares of the technology company’s stock after acquiring an additional 327 shares during the quarter. Blue Trust Inc.’s holdings in SBA Communications were worth $554,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp grew its position in SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after acquiring an additional 81,566 shares during the period. JPMorgan Chase & Co. increased its position in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in SBA Communications by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock valued at $305,637,000 after purchasing an additional 62,555 shares during the last quarter. Victory Capital Management Inc. boosted its position in SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after buying an additional 1,174,469 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after buying an additional 700,791 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

SBAC opened at $199.14 on Friday. The company has a fifty day moving average price of $208.34 and a two-hundred day moving average price of $221.58. The firm has a market capitalization of $21.41 billion, a PE ratio of 31.41, a P/E/G ratio of 0.70 and a beta of 0.69. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period last year, the firm earned $3.34 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts forecast that SBA Communications Co. will post 12.57 EPS for the current year.

Analyst Ratings Changes

SBAC has been the subject of a number of research analyst reports. JMP Securities began coverage on shares of SBA Communications in a research note on Monday. They issued an “outperform” rating and a $250.00 target price for the company. Wells Fargo & Company reduced their price objective on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. TD Cowen lifted their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Raymond James increased their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.