JPMorgan Chase & Co. Has $958.56 Million Position in SBA Communications Corporation $SBAC

JPMorgan Chase & Co. cut its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,957,594 shares of the technology company’s stock after selling 563,163 shares during the quarter. JPMorgan Chase & Co.’s holdings in SBA Communications were worth $958,555,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SBAC. Quent Capital LLC acquired a new stake in shares of SBA Communications in the third quarter valued at about $27,000. CVA Family Office LLC grew its stake in SBA Communications by 106.3% in the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the last quarter. SJS Investment Consulting Inc. bought a new stake in shares of SBA Communications during the 3rd quarter worth approximately $48,000. Finally, Center for Financial Planning Inc. bought a new stake in shares of SBA Communications during the 3rd quarter worth approximately $50,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC opened at $203.12 on Wednesday. The firm has a market cap of $21.64 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87. SBA Communications Corporation has a 52 week low of $177.49 and a 52 week high of $245.16. The firm’s 50-day simple moving average is $189.48 and its 200 day simple moving average is $196.23.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SBAC shares. Royal Bank Of Canada lowered their target price on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. BMO Capital Markets decreased their price objective on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. Scotiabank dropped their target price on shares of SBA Communications from $252.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Wells Fargo & Company cut their target price on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 16th. Finally, JPMorgan Chase & Co. lowered their price target on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.18.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.