Public Employees Retirement System of Ohio Sells 3,877 Shares of SBA Communications Co. (NASDAQ:SBAC)

Public Employees Retirement System of Ohio lowered its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,117 shares of the technology company’s stock after selling 3,877 shares during the period. Public Employees Retirement System of Ohio’s holdings in SBA Communications were worth $8,910,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SBAC. Price T Rowe Associates Inc. MD grew its position in SBA Communications by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock valued at $213,773,000 after buying an additional 33,507 shares during the period. Lazard Asset Management LLC raised its stake in shares of SBA Communications by 7.8% in the first quarter. Lazard Asset Management LLC now owns 148,687 shares of the technology company’s stock valued at $32,219,000 after acquiring an additional 10,753 shares during the period. LRI Investments LLC purchased a new stake in shares of SBA Communications in the first quarter valued at $276,000. Canada Pension Plan Investment Board raised its stake in shares of SBA Communications by 12.8% in the first quarter. Canada Pension Plan Investment Board now owns 471,565 shares of the technology company’s stock valued at $102,188,000 after acquiring an additional 53,400 shares during the period. Finally, EntryPoint Capital LLC raised its stake in shares of SBA Communications by 798.6% in the first quarter. EntryPoint Capital LLC now owns 629 shares of the technology company’s stock valued at $136,000 after acquiring an additional 559 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on SBAC shares. Royal Bank of Canada reduced their price target on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Barclays reduced their price target on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Friday. Citigroup dropped their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, TD Cowen dropped their target price on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.31.

SBA Communications Trading Up 1.4 %

SBAC traded up $3.11 during midday trading on Monday, hitting $217.82. The company’s stock had a trading volume of 1,978,929 shares, compared to its average volume of 948,492. The firm has a market cap of $23.40 billion, a P/E ratio of 42.31, a PEG ratio of 0.69 and a beta of 0.65. The firm has a 50-day moving average price of $197.54 and a two-hundred day moving average price of $207.06. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The business had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same quarter in the previous year, the business earned $3.13 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts expect that SBA Communications Co. will post 12.51 EPS for the current year.

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.