Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in SBA Communications Co. (NASDAQ:SBAC) by 6.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,782 shares of the technology company’s stock after selling 1,486 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SBA Communications were worth $3,722,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Advisor Group Inc. grew its stake in SBA Communications by 9.7% in the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock valued at $172,000 after buying an additional 114 shares during the last quarter. D.A. Davidson & CO. grew its stake in SBA Communications by 18.8% in the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock valued at $102,000 after buying an additional 120 shares during the last quarter. Toronto Dominion Bank grew its stake in SBA Communications by 9.5% in the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after buying an additional 129 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in SBA Communications by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,497 shares of the technology company’s stock valued at $607,000 after buying an additional 245 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in SBA Communications by 10.5% in the 3rd quarter. Pacer Advisors Inc. now owns 3,133 shares of the technology company’s stock valued at $451,000 after buying an additional 297 shares during the last quarter. Institutional investors and hedge funds own 95.87% of the company’s stock.

SBAC has been the topic of a number of research reports. Barclays reiterated a “buy” rating and issued a $178.00 price target on shares of SBA Communications in a research note on Friday, January 19th. Guggenheim set a $172.00 target price on shares of SBA Communications and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Cowen restated a “buy” rating and set a $170.00 target price (up previously from $155.00) on shares of SBA Communications in a research report on Tuesday, December 5th. Royal Bank of Canada restated a “buy” rating and set a $200.00 target price on shares of SBA Communications in a research report on Thursday, November 30th. Finally, KeyCorp restated a “buy” rating and set a $179.00 target price (up previously from $170.00) on shares of SBA Communications in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. SBA Communications currently has an average rating of “Buy” and an average target price of $165.07.

SBA Communications Co. (SBAC) opened at $159.85 on Friday. SBA Communications Co. has a 52-week low of $105.74 and a 52-week high of $177.67. The stock has a market cap of $19,571.92, a P/E ratio of 208.14 and a beta of 0.85. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63.

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SBA Communications Profile

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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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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