Today The Prudential Financial Inc. Has $1,021,000 Position in SBA Communications Corporation (SBAC)

Today The Prudential Financial Inc. Has $1,021,000 Position in SBA Communications Corporation (SBAC)

Prudential Financial Inc. maintained its stake in SBA Communications Corporation (NASDAQ:SBAC) during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,100 shares of the company’s stock at the end of the third quarter. Prudential Financial Inc.’s holdings in SBA Communications Corporation were worth $1,021,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SBAC. Macquarie Group Ltd. increased its stake in SBA Communications Corporation by 53.1% in the second quarter. Macquarie Group Ltd. now owns 178,855 shares of the company’s stock valued at $19,305,000 after buying an additional 62,000 shares during the last quarter. Bank of Montreal Can increased its stake in SBA Communications Corporation by 7.0% in the third quarter. Bank of Montreal Can now owns 83,925 shares of the company’s stock valued at $9,412,000 after buying an additional 5,502 shares during the last quarter. Personal Capital Advisors Corp increased its stake in SBA Communications Corporation by 11.9% in the second quarter. Personal Capital Advisors Corp now owns 167,886 shares of the company’s stock valued at $18,122,000 after buying an additional 17,883 shares during the last quarter. First Trust Advisors LP increased its stake in SBA Communications Corporation by 57.4% in the third quarter. First Trust Advisors LP now owns 92,547 shares of the company’s stock valued at $10,380,000 after buying an additional 33,759 shares during the last quarter. Finally, US Bancorp DE increased its stake in SBA Communications Corporation by 7.4% in the third quarter. US Bancorp DE now owns 17,702 shares of the company’s stock valued at $1,985,000 after buying an additional 1,219 shares during the last quarter. Institutional investors and hedge funds own 95.80% of the company’s stock.

Shares of SBA Communications Corporation (NASDAQ:SBAC) traded down 1.110% during mid-day trading on Wednesday, hitting $102.945. 558,561 shares of the stock traded hands. SBA Communications Corporation has a 12-month low of $82.80 and a 12-month high of $118.57. The firm’s 50 day moving average price is $103.52 and its 200 day moving average price is $108.68. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 127.565 and a beta of 0.74.

SBA Communications Corporation (NASDAQ:SBAC) last issued its earnings results on Tuesday, November 1st. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $1.44. SBA Communications Corporation had a net margin of 6.38% and a negative return on equity of 2.24%. The business earned $411.30 million during the quarter, compared to analysts’ expectations of $412.65 million. During the same quarter in the prior year, the business posted $1.43 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts predict that SBA Communications Corporation will post $0.67 EPS for the current fiscal year.

SBAC has been the subject of several research reports. Zacks Investment Research downgraded shares of SBA Communications Corporation from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 5th. Guggenheim initiated coverage on shares of SBA Communications Corporation in a research note on Thursday, December 15th. They set a “neutral” rating for the company. BTIG Research reissued a “buy” rating and set a $145.00 target price on shares of SBA Communications Corporation in a report on Wednesday, December 21st. Macquarie initiated coverage on shares of SBA Communications Corporation in a report on Tuesday, December 6th. They set a “neutral” rating and a $107.00 target price for the company. Finally, J P Morgan Chase & Co raised shares of SBA Communications Corporation from a “neutral” rating to an “overweight” rating and set a $130.00 target price for the company in a report on Wednesday, November 30th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. SBA Communications Corporation currently has an average rating of “Buy” and a consensus target price of $122.77.

About SBA Communications Corporation

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’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

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