Fic Capital Inc Lowers stake in SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC) : Fic Capital Inc reduced its stake in SBA Communications Corporation by 1.86% during the most recent quarter end. The investment management company now holds a total of 81,924 shares of SBA Communications Corporation which is valued at $7,939,255 after selling 1,551 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 3.71% of Fic Capital Inc’s portfolio.

Other Hedge Funds, Including , Columbia Partners L L C Investment Management added SBAC to its portfolio by purchasing 7,969 company shares during the most recent quarter which is valued at $772,276. SBA Communications Corporation makes up approx 0.06% of Columbia Partners L L C Investment Management’s portfolio.Alliancebernstein reduced its stake in SBAC by selling 576 shares or 0.66% in the most recent quarter. The Hedge Fund company now holds 87,035 shares of SBAC which is valued at $8,703,500. SBA Communications Corporation makes up approx 0.01% of Alliancebernstein’s portfolio.Elk Creek Partners reduced its stake in SBAC by selling 676 shares or 8.5% in the most recent quarter. The Hedge Fund company now holds 7,276 shares of SBAC which is valued at $727,600. SBA Communications Corporation makes up approx 0.05% of Elk Creek Partners’s portfolio.Rhumbline Advisers boosted its stake in SBAC in the latest quarter, The investment management firm added 6,326 additional shares and now holds a total of 131,332 shares of SBA Communications Corporation which is valued at $14,130,010. SBA Communications Corporation makes up approx 0.04% of Rhumbline Advisers’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 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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