Investors bought shares of SBA Communications Corp. (NASDAQ:SBAC) on weakness during trading on Monday. $50.80 million flowed into the stock on the tick-up and $24.02 million flowed out of the stock on the tick-down, for a money net flow of $26.78 million into the stock. Of all companies tracked, SBA Communications Corp. had the 10th highest net in-flow for the day. SBA Communications Corp. traded down ($1.11) for the day and closed at $113.30

A number of research firms have recently issued reports on SBAC. Deutsche Bank AG reduced their price target on shares of SBA Communications Corp. from $106.00 to $102.00 and set a “hold” rating for the company in a research report on Friday, May 27th. Morgan Stanley reaffirmed a “buy” rating and set a $121.00 price objective on shares of SBA Communications Corp. in a research report on Friday, April 29th. Moffett Nathanson raised their price objective on shares of SBA Communications Corp. from $133.00 to $135.00 in a research report on Wednesday, March 30th. JPMorgan Chase & Co. lowered shares of SBA Communications Corp. from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $120.00 to $115.00 in a research report on Tuesday, May 3rd. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $132.00 price objective (up previously from $112.00) on shares of SBA Communications Corp. in a research report on Monday. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. SBA Communications Corp. presently has an average rating of “Buy” and a consensus price target of $121.36.

The stock has a 50 day moving average of $103.40 and a 200 day moving average of $99.32. The company’s market cap is $14.22 billion.

SBA Communications Corp. (NASDAQ:SBAC) last released its earnings results on Monday, May 2nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $1.40. The company had revenue of $399.80 million for the quarter. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 earnings per share. Analysts expect that SBA Communications Corp. will post $0.85 EPS for the current year.

In related news, Director Duncan Cocroft bought 1,000 shares of SBA Communications Corp. stock in a transaction dated Thursday, June 16th. The shares were bought at an average cost of $100.16 per share, with a total value of $100,160.00. Following the acquisition, the director now owns 82,125 shares in the company, valued at approximately $8,225,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Other hedge funds have added to or reduced their stakes in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in SBA Communications Corp. by 71.2% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 75,000 shares of the company’s stock valued at $7,880,000 after buying an additional 31,200 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in SBA Communications Corp. by 6.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 16,009 shares of the company’s stock valued at $1,682,000 after buying an additional 946 shares during the period. Principal Financial Group Inc. raised its stake in SBA Communications Corp. by 32.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,021,327 shares of the company’s stock valued at $422,521,000 after buying an additional 986,698 shares during the period. Gulf International Bank UK Ltd raised its stake in SBA Communications Corp. by 3.4% in the fourth quarter. Gulf International Bank UK Ltd now owns 39,070 shares of the company’s stock valued at $4,105,000 after buying an additional 1,290 shares during the period. Finally, Rhumbline Advisers raised its stake in SBA Communications Corp. by 1.2% in the fourth quarter. Rhumbline Advisers now owns 116,691 shares of the company’s stock valued at $12,261,000 after buying an additional 1,385 shares during the period.

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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