Sumitomo Mitsui Trust Group Inc. Has $46.05 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Sumitomo Mitsui Trust Group Inc. grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 225,944 shares of the technology company’s stock after buying an additional 1,708 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in SBA Communications were worth $46,047,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in SBA Communications in the third quarter valued at about $26,000. Evermay Wealth Management LLC acquired a new stake in SBA Communications during the fourth quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $35,000. Oakworth Capital Inc. raised its holdings in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after buying an additional 144 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of SBA Communications during the 3rd quarter worth approximately $50,000. 97.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on SBAC. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. KeyCorp boosted their price target on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Barclays dropped their price objective on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Raymond James boosted their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.29.

SBA Communications Stock Up 0.2 %

SBAC stock opened at $206.31 on Tuesday. The business has a fifty day moving average of $204.93 and a 200-day moving average of $221.22. The company has a market cap of $22.18 billion, a P/E ratio of 32.54, a PEG ratio of 0.73 and a beta of 0.69. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.