SBA Communications Corporation (SBAC) : Timessquare Capital Management reduced its stake in SBA Communications Corporation by 5.1% during the most recent quarter end. The investment management company now holds a total of 3,578,245 shares of SBA Communications Corporation which is valued at $416,221,458 after selling 192,335 shares in SBA Communications Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.SBA Communications Corporation makes up approximately 2.64% of Timessquare Capital Management’s portfolio.
Other Hedge Funds, Including , Tiaa Cref Investment Management boosted its stake in SBAC in the latest quarter, The investment management firm added 17,938 additional shares and now holds a total of 492,224 shares of SBA Communications Corporation which is valued at $57,255,496. SBA Communications Corporation makes up approx 0.04% of Tiaa Cref Investment Management’s portfolio.Finemark National Bank Trust reduced its stake in SBAC by selling 195 shares or 84.05% in the most recent quarter. The Hedge Fund company now holds 37 shares of SBAC which is valued at $4,298.Bb&t Securities boosted its stake in SBAC in the latest quarter, The investment management firm added 1,419 additional shares and now holds a total of 17,371 shares of SBA Communications Corporation which is valued at $1,977,862. SBA Communications Corporation makes up approx 0.03% of Bb&t Securities’s portfolio.
SBA Communications Corporation closed down -0.52 points or -0.46% at $112.96 with 9,30,834 shares getting traded on Tuesday. Post opening the session at $114.21, the shares hit an intraday low of $112.74 and an intraday high of $114.37 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, SBA Communications Corporation reported $1.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.39. The company had revenue of $405.50 million for the quarter, compared to analysts expectations of $403.45 million. The company’s revenue was down -1.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.42 EPS.
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures rooftops and other structures that support antennas used for wireless communications. The Company operated through two segments namely site leasing and site development. The Companys primary business line is its site leasing business. In its site leasing business the Company leases antenna space to wireless service providers on towers that it owns or operates and manage rooftop and tower sites for property owners under various contractual arrangements. It also managed or leased approximately 5000 actual or potential towers. Its other business line is its site development business through which it assists wireless service providers in developing and maintaining their own wireless service networks. The Companys principal operations are in the United States and its territories. In addition it owns and operates towers in Canada Central America and South America.