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

Partners Group Holding AG lowered its position in SBA Communications Corporation (NASDAQ:SBAC) by 8.4% in the third quarter, Holdings Channel reports. The fund owned 124,802 shares of the technology company’s stock after selling 11,496 shares during the period. SBA Communications makes up approximately 1.3% of Partners Group Holding AG’s portfolio, making the stock its 26th biggest holding. Partners Group Holding AG’s holdings in SBA Communications were worth $24,130,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of SBA Communications by 2.1% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 212,888 shares of the technology company’s stock worth $41,162,000 after purchasing an additional 4,425 shares during the last quarter. Intech Investment Management LLC raised its stake in SBA Communications by 52.2% in the third quarter. Intech Investment Management LLC now owns 7,624 shares of the technology company’s stock valued at $1,474,000 after buying an additional 2,615 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in SBA Communications in the third quarter valued at $2,761,000. Prestige Wealth Management Group LLC lifted its holdings in SBA Communications by 3.6% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,715 shares of the technology company’s stock worth $332,000 after buying an additional 60 shares during the last quarter. Finally, Magellan Asset Management Ltd boosted its position in shares of SBA Communications by 8.2% during the 3rd quarter. Magellan Asset Management Ltd now owns 88,125 shares of the technology company’s stock worth $17,039,000 after acquiring an additional 6,703 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

NASDAQ SBAC opened at $197.17 on Thursday. The firm’s fifty day moving average is $190.40 and its two-hundred day moving average is $195.42. SBA Communications Corporation has a one year low of $177.49 and a one year high of $245.16. The firm has a market cap of $21.01 billion, a PE ratio of 25.71, a P/E/G ratio of 1.91 and a beta of 0.87.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. Royal Bank Of Canada cut their price objective on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. BMO Capital Markets lowered their target price on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Barclays dropped their target price on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research report on Monday, December 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and an average 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.