Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Stake in SBA Communications Co. (NASDAQ:SBAC)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,518 shares of the technology company’s stock after acquiring an additional 3,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in SBA Communications were worth $4,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Exchange Traded Concepts LLC raised its holdings in SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after purchasing an additional 50 shares during the period. Farther Finance Advisors LLC raised its stake in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares during the period. Versant Capital Management Inc lifted its position in shares of SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after buying an additional 53 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of SBA Communications by 1.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after acquiring an additional 64 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in SBA Communications by 23.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company’s stock worth $82,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday. Finally, Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $252.00.

SBA Communications Stock Performance

Shares of SBAC opened at $219.17 on Wednesday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The company’s fifty day moving average is $202.83 and its 200 day moving average is $220.43. The stock has a market capitalization of $23.57 billion, a PE ratio of 34.57, a P/E/G ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

SBA Communications Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.