American Assets Capital Advisers LLC Trims Position in SBA Communications Co. (SBAC)

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American Assets Capital Advisers LLC lessened its holdings in SBA Communications Co. (NASDAQ:SBAC) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 108,879 shares of the technology company’s stock after selling 2,230 shares during the period. SBA Communications makes up about 3.6% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 18th largest position. American Assets Capital Advisers LLC’s holdings in SBA Communications were worth $17,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Employees Retirement System of Texas increased its position in SBA Communications by 31.3% in the second quarter. Employees Retirement System of Texas now owns 21,000 shares of the technology company’s stock worth $3,468,000 after purchasing an additional 5,000 shares during the last quarter. Rampart Investment Management Company LLC increased its position in SBA Communications by 167.9% in the second quarter. Rampart Investment Management Company LLC now owns 13,970 shares of the technology company’s stock worth $2,307,000 after purchasing an additional 8,756 shares during the last quarter. Neuburgh Advisers LLC increased its position in SBA Communications by 9.7% in the second quarter. Neuburgh Advisers LLC now owns 6,446 shares of the technology company’s stock worth $1,064,000 after purchasing an additional 572 shares during the last quarter. Riverhead Capital Management LLC increased its position in SBA Communications by 9.3% in the second quarter. Riverhead Capital Management LLC now owns 9,815 shares of the technology company’s stock worth $1,621,000 after purchasing an additional 836 shares during the last quarter. Finally, DF Dent & Co. Inc. increased its position in SBA Communications by 35.5% in the second quarter. DF Dent & Co. Inc. now owns 203,874 shares of the technology company’s stock worth $33,664,000 after purchasing an additional 53,456 shares during the last quarter. Institutional investors own 94.85% of the company’s stock.

SBAC stock traded down $0.84 during mid-day trading on Monday, reaching $153.54. 44,735 shares of the stock traded hands, compared to its average volume of 702,819. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of -3.18. SBA Communications Co. has a one year low of $145.81 and a one year high of $177.67.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, July 30th. The technology company reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.68). SBA Communications had a net margin of 1.73% and a negative return on equity of 1.26%. The firm had revenue of $456.30 million for the quarter, compared to the consensus estimate of $457.43 million. During the same quarter last year, the firm earned $1.73 EPS. The company’s revenue was up 6.8% on a year-over-year basis. Analysts anticipate that SBA Communications Co. will post 7.1 EPS for the current year.

Several equities research analysts recently weighed in on the stock. Guggenheim set a $180.00 price target on shares of SBA Communications and gave the stock a “buy” rating in a research report on Wednesday, October 17th. BidaskClub upgraded shares of SBA Communications from a “sell” rating to a “hold” rating in a research report on Friday, October 12th. ValuEngine upgraded shares of SBA Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Macquarie reduced their price target on shares of SBA Communications from $166.00 to $161.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 29th. Finally, Morgan Stanley reduced their price target on shares of SBA Communications from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Thursday, August 16th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. SBA Communications has a consensus rating of “Buy” and an average price target of $178.90.

In other SBA Communications news, Director Brian C. Carr sold 800 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $155.00, for a total transaction of $124,000.00. Following the transaction, the director now owns 3,070 shares in the company, valued at $475,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Stoops sold 40,000 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $160.05, for a total transaction of $6,402,000.00. Following the transaction, the chief executive officer now owns 252,180 shares in the company, valued at approximately $40,361,409. The disclosure for this sale can be found here. Insiders have sold 80,805 shares of company stock worth $12,693,203 in the last quarter. Company insiders own 2.70% of the company’s stock.

SBA Communications 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.

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

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