The Denver, CO-based investment advisory firm, and majority investor in the Janus Fund, owned just slightly more than 1.7 million shares in the Boca Raton company as of Dec. 31, according to documents filed with the Securities and Exchange Commission.
In a statement filed Monday, Janus Capital notified the SEC the firm now owns 5,027,760 shares. Shares of SBA Communications traded up $2.07 each around 10 a.m. Wednesday at $16.52 on volume of 157,800. The issue closed at $13.94 each on Monday.
The investment comes as the communications tower developer is forecast to produce a net earnings loss of 43 cents a share for the first quarter ended March 31, up from the net earnings loss of 12 cents a share the company reported for the fourth quarter ended Dec. 31.
SBA Communications is scheduled to release its first-quarter earnings report Thursday.
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