Fjarde AP Fonden Fourth Swedish National Pension Fund Makes New $6.27 Million Investment in SBA Communications Corporation $SBAC

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in SBA Communications Corporation (NASDAQ:SBAC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 32,406 shares of the technology company’s stock, valued at approximately $6,268,000.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of SBA Communications by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock valued at $3,511,920,000 after purchasing an additional 403,285 shares during the period. Dodge & Cox lifted its stake in shares of SBA Communications by 12.3% in the 3rd quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock valued at $1,869,172,000 after purchasing an additional 1,058,803 shares during the period. State Street Corp lifted its stake in shares of SBA Communications by 3.0% in the 3rd quarter. State Street Corp now owns 4,752,877 shares of the technology company’s stock valued at $918,969,000 after purchasing an additional 139,696 shares during the period. Geode Capital Management LLC lifted its stake in shares of SBA Communications by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock valued at $594,655,000 after purchasing an additional 16,153 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of SBA Communications by 9.7% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock valued at $393,615,000 after purchasing an additional 179,591 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SBAC shares. Wells Fargo & Company increased their price target on SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. Truist Financial restated a “buy” rating and issued a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. Scotiabank upped their price objective on shares of SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Sanford C. Bernstein assumed coverage on shares of SBA Communications in a research report on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price objective for the company. Finally, Weiss Ratings upgraded shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.22.

SBA Communications Stock Performance

SBAC stock opened at $208.02 on Monday. The stock has a market cap of $22.06 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 2.08 and a beta of 0.99. The stock has a 50-day moving average price of $207.16 and a two-hundred day moving average price of $196.13. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $243.16.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be issued a $1.25 dividend. The ex-dividend date is Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio (DPR) is presently 52.63%.

SBA Communications Company 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.