Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 22,550 Shares of SBA Communications Corporation $SBAC

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 69.6% in the 1st quarter, according to its most recent filing with the 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’s holdings in SBA Communications were worth $9,458,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBAC. Elevation Wealth Partners LLC grew its holdings in 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 during the last quarter. DV Equities LLC acquired a new position in shares of SBA Communications during the fourth quarter worth approximately $29,000. Geneos Wealth Management Inc. lifted its holdings in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of SBA Communications in the third quarter valued at approximately $32,000. Finally, High Point Wealth Management LLC bought a new stake in shares of SBA Communications in the fourth quarter valued at approximately $39,000. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of research reports. Truist Financial reaffirmed a “buy” rating and set a $248.00 target price (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. KeyCorp increased their price target on shares of SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley raised their price target on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Barclays boosted their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.39.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $184.56 on Friday. The firm has a market capitalization of $19.57 billion, a PE ratio of 19.43, a PEG ratio of 1.84 and a beta of 1.00. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The business’s 50 day moving average is $201.84 and its 200-day moving average is $195.88.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd were paid a dividend of $1.25 per share. 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 payout ratio is currently 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.