SBA Communications Corporation (SBAC) : Spo Advisory Corp added new position in SBA Communications Corporation during the most recent quarter end. The investment management firm now holds 1,856,521 shares of SBA Communications Corporation which is valued at $215,950,523 , the company said in a statement filed on Aug 15, 2016 with the SEC.SBA Communications Corporation makes up approximately 3.47% of Spo Advisory Corp’s portfolio.
Other Hedge Funds, Including , Shannon River Fund Management sold out all of its stake in SBAC during the most recent quarter. The investment firm sold 9,775 shares of SBAC which is valued $1,137,028.State Of Wisconsin Investment Board reduced its stake in SBAC by selling 91,240 shares or 51.0% in the most recent quarter. The Hedge Fund company now holds 87,649 shares of SBAC which is valued at $10,195,332. SBA Communications Corporation makes up approx 0.04% of State Of Wisconsin Investment Board’s portfolio.Cambridge Investment Research Advisors reduced its stake in SBAC by selling 558 shares or 9.01% in the most recent quarter. The Hedge Fund company now holds 5,636 shares of SBAC which is valued at $641,715. SBA Communications Corporation makes up approx 0.01% of Cambridge Investment Research Advisors’s portfolio.Jennison Associates reduced its stake in SBAC by selling 253,791 shares or 7.65% in the most recent quarter. The Hedge Fund company now holds 3,065,887 shares of SBAC which is valued at $347,089,067. SBA Communications Corporation makes up approx 0.36% of Jennison Associates’s portfolio. Palisade Capital Managementnj sold out all of its stake in SBAC during the most recent quarter. The investment firm sold 4,198 shares of SBAC which is valued $475,256.
SBA Communications Corporation opened for trading at $114.53 and hit $114.81 on the upside on Thursday, eventually ending the session at $114.18, with a gain of 0.03% or 0.03 points. The heightened volatility saw the trading volume jump to 6,52,634 shares. Company has a market cap of $14,229 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 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.