Earnest Partners Lowers stake in SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC) : Earnest Partners reduced its stake in SBA Communications Corporation by 1.66% during the most recent quarter end. The investment management company now holds a total of 972,492 shares of SBA Communications Corporation which is valued at $113,120,269 after selling 16,434 shares in SBA Communications Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.SBA Communications Corporation makes up approximately 1.10% of Earnest Partners’s portfolio.

Other Hedge Funds, Including , Ray Gerald L Associates Ltd added SBAC to its portfolio by purchasing 7,690 company shares during the most recent quarter which is valued at $894,501. SBA Communications Corporation makes up approx 0.14% of Ray Gerald L Associates Ltd’s portfolio.Nuveen Asset Management boosted its stake in SBAC in the latest quarter, The investment management firm added 28,537 additional shares and now holds a total of 327,581 shares of SBA Communications Corporation which is valued at $38,104,222. SBA Communications Corporation makes up approx 0.23% of Nuveen Asset Management’s portfolio.Emerald Advisers Incpa reduced its stake in SBAC by selling 1,251 shares or 4.39% in the most recent quarter. The Hedge Fund company now holds 27,218 shares of SBAC which is valued at $3,130,070. SBA Communications Corporation makes up approx 0.14% of Emerald Advisers Incpa’s portfolio.Rockefeller Financial Services Inc reduced its stake in SBAC by selling 10,200 shares or 1.55% in the most recent quarter. The Hedge Fund company now holds 645,845 shares of SBAC which is valued at $73,090,279. SBA Communications Corporation makes up approx 1.41% of Rockefeller Financial Services Inc’s portfolio.

SBA Communications Corporation opened for trading at $117.22 and hit $118.57 on the upside on Wednesday, eventually ending the session at $118.47, with a gain of 0.72% or 0.85 points. The heightened volatility saw the trading volume jump to 566,650 shares. Company has a market cap of $14,763 M.

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 Company’s 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 Company’s principal operations are in the United States and its territories. In addition it owns and operates towers in Canada Central America and South America.

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