Fjarde AP Fonden Fourth Swedish National Pension Fund Has $5.78 Million Stock Position in SBA Communications Corporation $SBAC

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 18.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 24,618 shares of the technology company’s stock after purchasing an additional 3,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in SBA Communications were worth $5,781,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBAC. NorthCrest Asset Manangement LLC boosted its stake in shares of SBA Communications by 3.0% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock valued at $359,000 after purchasing an additional 44 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in SBA Communications by 0.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock valued at $1,440,000 after buying an additional 46 shares during the period. Advisors Asset Management Inc. boosted its position in SBA Communications by 5.6% during the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock valued at $194,000 after acquiring an additional 47 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in SBA Communications by 20.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock worth $70,000 after acquiring an additional 50 shares during the period. Finally, Clear Creek Financial Management LLC raised its position in shares of SBA Communications by 6.0% in the 1st quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company’s stock worth $242,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SBAC. Royal Bank Of Canada decreased their target price on SBA Communications from $255.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, October 2nd. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the stock a “strong-buy” rating in a research report on Tuesday, August 5th. Citigroup dropped their target price on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. The Goldman Sachs Group reduced their price target on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Finally, JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the company a “market outperform” rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $241.07.

SBA Communications Trading Down 1.5%

SBA Communications stock opened at $190.42 on Thursday. The firm has a market capitalization of $20.45 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 2.04 and a beta of 0.82. The firm’s fifty day moving average price is $197.93 and its two-hundred day moving average price is $218.69. SBA Communications Corporation has a 1-year low of $185.45 and a 1-year high of $245.16.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The company had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same quarter in the prior year, the business posted $3.29 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. On average, research analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, August 21st. SBA Communications’s dividend payout ratio (DPR) is currently 56.42%.

SBA Communications Company 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.