JPMorgan Chase & Co. Has $874.55 Million Stock Position in SBA Communications Corporation $SBAC

JPMorgan Chase & Co. decreased its stake in SBA Communications Corporation (NASDAQ:SBAC) by 8.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,521,258 shares of the technology company’s stock after selling 436,336 shares during the quarter. JPMorgan Chase & Co. owned 4.24% of SBA Communications worth $874,547,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in SBA Communications by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after acquiring an additional 403,285 shares during the period. Dodge & Cox boosted its position in SBA Communications by 12.3% during the 3rd quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after acquiring an additional 1,058,803 shares during the period. State Street Corp boosted its position in SBA Communications by 3.0% during the 3rd quarter. State Street Corp now owns 4,752,877 shares of the technology company’s stock worth $918,969,000 after acquiring an additional 139,696 shares during the period. Geode Capital Management LLC boosted its position in SBA Communications by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock worth $594,655,000 after acquiring an additional 16,153 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its position in SBA Communications by 9.7% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock worth $393,615,000 after acquiring an additional 179,591 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SBAC shares. KeyCorp raised their price objective on 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 price objective (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. Wells Fargo & Company raised their price objective 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. Sanford C. Bernstein started coverage on SBA Communications in a research report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price objective for the company. Finally, Morgan Stanley raised their price objective on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. One equities research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $237.22.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $204.78 on Wednesday. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 2.00 and a beta of 0.99. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $243.16. The stock has a 50-day simple moving average of $208.60 and a 200-day simple moving average of $196.21.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, May 22nd. 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.