SBA Comm (SBAC) is Upgraded by Citigroup to Buy

SBA Comm (SBAC) is Upgraded by Citigroup to Buy , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.

SBA Communications Corp. is up 1.25% in the last 3-month period. Year-to-Date the stock performance stands at -5.14%.

Shares of SBA Communications Corporation (NASDAQ:SBAC) appreciated by 0.99% during the past week but lost 3.19% on a 4-week basis. The shares have outperformed the S&P 500 by 1.83% in the past week but underperformed the index by 0.93% in the last 4 weeks.

Shares of SBA Communications Corporation (NASDAQ:SBAC) ended Thursday session in red amid volatile trading. The shares closed down 0.03 points or 0.03% at $105.07 with 689,379 shares getting traded. Post opening the session at $104.67, the shares hit an intraday low of $103.485 and an intraday high of $106.19 and the price vacillated in this range throughout the day. The company has a market cap of $13,255 million and the number of outstanding shares have been calculated to be 126,151,128 shares. The 52-week high of SBA Communications Corporation (NASDAQ:SBAC) is $128.4699 and the 52-week low is $100.12.

Currently the company Insiders own 1.8% of SBA Communications Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -12.05% . Institutional Investors own 95.06% of SBA Communications Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -12.05%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (EVP – Site Leasing) of Sba Communications Corp, Silberstein Jason V had sold 49,491 shares worth of $5,008,489 in a transaction dated December 17, 2015. In this transaction, 49,491 shares were sold at $101.2 per share.

SBA Communications Corporation (SBA) is an independent owner and operator of wireless communications towers. The Companys principal operations are in the United States and its territories. During the year ended December 31, 2012, its primary business line is its site leasing business, which contributed 97.4% of its total segment operating profit. In April 2012, through its wholly owned subsidiary SBA Monarch Acquisition, LLC, it acquired 2,300 tower sites in the United States and Central America and indoor and outdoor distributed antenna system (DAS) assets in Chicago, Las Vegas, New York City and Auburn, Alabama. In October 2012, through its wholly owned subsidiary, SBA 2012 Acquisition, LLC, it acquired TowerCo II Holdings LLC. In October 2012, ExteNet Systems, Inc. purchased Distributed Antenna System from SBA. In December 2012, the Company launched operations in Brazil and acquired 800 freestanding wireless towers from broadband wireless carriers in Brazil.