Peconic Partners buys $20,226,303 stake in SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC) : Peconic Partners scooped up 11,500 additional shares in SBA Communications Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 173,885 shares of SBA Communications Corporation which is valued at $20,226,303.SBA Communications Corporation makes up approximately 3.53% of Peconic Partners’s portfolio.

Other Hedge Funds, Including , Crosslink Capital Inc boosted its stake in SBAC in the latest quarter, The investment management firm added 23,740 additional shares and now holds a total of 324,773 shares of SBA Communications Corporation which is valued at $37,777,595. SBA Communications Corporation makes up approx 6.38% of Crosslink Capital Inc’s portfolio.Tiaa Cref Investment Management boosted its stake in SBAC in the latest quarter, The investment management firm added 17,938 additional shares and now holds a total of 492,224 shares of SBA Communications Corporation which is valued at $57,255,496. SBA Communications Corporation makes up approx 0.04% of Tiaa Cref Investment Management’s portfolio. Thompson Siegel Walmsley added SBAC to its portfolio by purchasing 401 company shares during the most recent quarter which is valued at $45,658.Bb&t Securities boosted its stake in SBAC in the latest quarter, The investment management firm added 1,419 additional shares and now holds a total of 17,371 shares of SBA Communications Corporation which is valued at $1,977,862. SBA Communications Corporation makes up approx 0.03% of Bb&t Securities’s portfolio.

SBA Communications Corporation opened for trading at $114.53 and hit $114.81 on the upside on Thursday, eventually ending the session at $114.18, with a gain of 0.03% or 0.03 points. The heightened volatility saw the trading volume jump to 6,52,634 shares. Company has a market cap of $14,229 M.

On the company’s financial health, SBA Communications Corporation reported $1.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.39. The company had revenue of $405.50 million for the quarter, compared to analysts expectations of $403.45 million. The company’s revenue was down -1.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.42 EPS.

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 operated through two segments namely site leasing and site development. The Company’s primary business line is its site leasing business. In its site leasing business the Company leases antenna space to wireless service providers on towers that it owns or operates and manage rooftop and tower sites for property owners under various contractual arrangements. It also managed or leased approximately 5000 actual or potential towers. Its other business line is its site development business through which it assists wireless service providers in developing and maintaining their own wireless service networks. The Company’s principal operations are in the United States and its territories. In addition it owns and operates towers in Canada Central America and South America.

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