SBA Communications Corporation (SBAC) : Fic Capital Inc scooped up 8,740 additional shares in SBA Communications Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 76,805 shares of SBA Communications Corporation which is valued at $7.7 Million.SBA Communications Corporation makes up approximately 3.82% of Fic Capital Inc’s portfolio.
Other Hedge Funds, Including , Hap Trading sold out all of its stake in SBAC during the most recent quarter. The investment firm sold 17,263 shares of SBAC which is valued $1.7 Million.Ibm Retirement Fund reduced its stake in SBAC by selling 17,546 shares or 53.53% in the most recent quarter. The Hedge Fund company now holds 15,232 shares of SBAC which is valued at $1.5 Million. SBA Communications Corporation makes up approx 0.06% of Ibm Retirement Fund’s portfolio.Swiss National Bank boosted its stake in SBAC in the latest quarter, The investment management firm added 87,900 additional shares and now holds a total of 515,451 shares of SBA Communications Corporation which is valued at $52 Million. SBA Communications Corporation makes up approx 0.09% of Swiss National Bank’s portfolio.Emerald Advisers Incpa reduced its stake in SBAC by selling 1,068 shares or 3.62% in the most recent quarter. The Hedge Fund company now holds 28,469 shares of SBAC which is valued at $2.9 Million. SBA Communications Corporation makes up approx 0.14% of Emerald Advisers Incpa’s portfolio.Candriam Luxembourg S.c.a. reduced its stake in SBAC by selling 20,093 shares or 69.64% in the most recent quarter. The Hedge Fund company now holds 8,760 shares of SBAC which is valued at $902,630. SBA Communications Corporation makes up approx 0.02% of Candriam Luxembourg S.c.a.’s portfolio.
SBA Communications Corporation closed down -0.14 points or -0.14% at $97.3 with 22,50,947 shares getting traded on Friday. Post opening the session at $97.74, the shares hit an intraday low of $96.68 and an intraday high of $97.8 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, SBA Communications Corporation reported $1.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 2, 2016. Analyst had a consensus of $1.39. The company had revenue of $399.80 million for the quarter, compared to analysts expectations of $398.42 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.41 EPS.
Many Wall Street Analysts have commented on SBA Communications Corporation. SBA Communications Corporation was Downgraded by JP Morgan to ” Neutral” on May 3, 2016. Company shares were Reiterated by Stifel on May 3, 2016 to “Buy”, Firm has raised the Price Target to $ 117 from a previous price target of $112 .SBA Communications Corporation was Downgraded by Wells Fargo to ” Market Perform” on Mar 4, 2016.
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.