32,406 Shares in SBA Communications Corporation $SBAC Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of SBA Communications Corporation (NASDAQ:SBAC) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 32,406 shares of the technology company’s stock, valued at approximately $6,268,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elevation Wealth Partners LLC grew its holdings in SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after purchasing an additional 110 shares during the period. Fulcrum Asset Management LLP bought a new position in SBA Communications during the third quarter worth about $32,000. Geneos Wealth Management Inc. grew its holdings in 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 purchasing an additional 84 shares during the period. High Point Wealth Management LLC bought a new position in SBA Communications during the fourth quarter worth about $39,000. Finally, Stance Capital LLC bought a new position in SBA Communications during the third quarter worth about $45,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

NASDAQ SBAC opened at $208.02 on Monday. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The company has a 50 day moving average of $207.16 and a 200-day moving average of $196.13. The company has a market cap of $22.06 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.08 and a beta of 0.99.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, May 22nd. SBA Communications’s payout ratio is presently 52.63%.

Analysts Set New Price Targets

A number of research firms recently commented on SBAC. Wells Fargo & Company lifted their price target on SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. Sanford C. Bernstein initiated coverage on shares of 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. Morgan Stanley raised their price objective 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. KeyCorp raised their price objective 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. Finally, Weiss Ratings upgraded shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and a consensus price target of $237.22.

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.