SBA Communications Corporation (SBAC) : Fairview Capital Investment Management reduced its stake in SBA Communications Corporation by 19.48% during the most recent quarter end. The investment management company now holds a total of 1,172,692 shares of SBA Communications Corporation which is valued at $113,645,582 after selling 283,674 shares in SBA Communications Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.SBA Communications Corporation makes up approximately 8.76% of Fairview Capital Investment Management’s portfolio.
Other Hedge Funds, Including , Two Sigma Advisers Lp boosted its stake in SBAC in the latest quarter, The investment management firm added 10,000 additional shares and now holds a total of 294,362 shares of SBA Communications Corporation which is valued at $28,526,621. SBA Communications Corporation makes up approx 0.12% of Two Sigma Advisers Lp’s portfolio.Canada Pension Plan Investment Board reduced its stake in SBAC by selling 13,000 shares or 5.46% in the most recent quarter. The Hedge Fund company now holds 225,117 shares of SBAC which is valued at $24,220,338. SBA Communications Corporation makes up approx 0.09% of Canada Pension Plan Investment Board’s portfolio.State Of Alaska Department Of Revenue reduced its stake in SBAC by selling 15,996 shares or 56.54% in the most recent quarter. The Hedge Fund company now holds 12,296 shares of SBAC which is valued at $1,415,638. SBA Communications Corporation makes up approx 0.15% of State Of Alaska Department Of Revenue’s portfolio.
SBA Communications Corporation opened for trading at $99.99 and hit $102.03 on the upside on Monday, eventually ending the session at $100.75, with a gain of 0.12% or 0.12 points. The heightened volatility saw the trading volume jump to 9,40,433 shares. Company has a market cap of $12,500 M.
On the company’s financial health, SBA Communications Corporation reported $1.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $1.40. The company had revenue of $411.32 million for the quarter, compared to analysts expectations of $412.73 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 EPS.
Many Wall Street Analysts have commented on SBA Communications Corporation. SunTrust Initiated SBA Communications Corporation on Sep 13, 2016 to “Buy”, Price Target of the shares are set at $129.
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.