SBA Communications Corporation $SBAC Stock Holdings Lifted by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in SBA Communications Corporation (NASDAQ:SBAC) by 69.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,956 shares of the technology company’s stock after purchasing an additional 22,550 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned about 0.05% of SBA Communications worth $9,458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevation Wealth Partners LLC grew its stake in shares of SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after buying an additional 110 shares in the last quarter. DV Equities LLC bought a new position in SBA Communications during the fourth quarter valued at approximately $29,000. Geneos Wealth Management Inc. lifted its stake in SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in SBA Communications in the third quarter worth approximately $32,000. Finally, High Point Wealth Management LLC acquired a new position in shares of SBA Communications during the 4th quarter worth $39,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SBAC. The Goldman Sachs Group started coverage on shares of SBA Communications in a report on Friday, June 26th. They set a “neutral” rating and a $205.00 price target on the stock. Morgan Stanley upped their price objective on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. KeyCorp increased their target price on shares of SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Truist Financial restated a “buy” rating and set a $248.00 target price (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. Finally, Wells Fargo & Company boosted their price target on SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.39.

SBA Communications Price Performance

Shares of SBAC stock opened at $184.56 on Friday. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $243.16. The company has a market cap of $19.57 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.84 and a beta of 1.00. The business’s 50 day moving average is $201.84 and its two-hundred day moving average is $195.88.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 22nd were paid a $1.25 dividend. The ex-dividend date was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. SBA Communications’s dividend payout ratio (DPR) is presently 52.63%.

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.