Swiss National Bank Raises Stake in SBA Communications Corporation $SBAC

Swiss National Bank grew its position in SBA Communications Corporation (NASDAQ:SBAC) by 6.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,600 shares of the technology company’s stock after purchasing an additional 18,400 shares during the quarter. Swiss National Bank’s holdings in SBA Communications were worth $53,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBAC. J. Safra Sarasin Holding AG raised its position in shares of SBA Communications by 4.0% during the 1st quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock valued at $275,000 after purchasing an additional 62 shares during the period. Norinchukin Bank The boosted its holdings in SBA Communications by 1.1% in the 3rd quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock worth $1,167,000 after buying an additional 68 shares during the period. Fortune Financial Advisors LLC increased its stake in SBA Communications by 3.3% in the 4th quarter. Fortune Financial Advisors LLC now owns 2,310 shares of the technology company’s stock worth $447,000 after buying an additional 73 shares in the last quarter. Larson Financial Group LLC increased its stake in SBA Communications by 47.6% in the 4th quarter. Larson Financial Group LLC now owns 248 shares of the technology company’s stock worth $48,000 after buying an additional 80 shares in the last quarter. Finally, Quarry LP raised its holdings in SBA Communications by 20.3% during the fourth quarter. Quarry LP now owns 475 shares of the technology company’s stock valued at $92,000 after acquiring an additional 80 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SBAC shares. KeyCorp boosted their price objective on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Scotiabank increased their target price on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “hold (c)” rating on shares of SBA Communications in a research note on Monday. Royal Bank Of Canada lowered their price target on SBA Communications from $245.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Finally, Truist Financial restated a “buy” rating and issued a $248.00 price target (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $235.28.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $178.02 on Thursday. The company has a market cap of $18.88 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.77 and a beta of 1.00. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $243.16. The firm’s fifty day moving average is $193.18 and its two-hundred day moving average is $195.12.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 22nd. SBA Communications’s payout ratio is 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.