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

JPMorgan Chase & Co. trimmed its stake in SBA Communications Corporation (NASDAQ:SBAC) by 8.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,521,258 shares of the technology company’s stock after selling 436,336 shares during the period. JPMorgan Chase & Co.’s holdings in SBA Communications were worth $874,547,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SBAC. Elevation Wealth Partners LLC raised its stake in shares of SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after acquiring an additional 110 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in shares of SBA Communications in the 3rd quarter valued at approximately $32,000. Geneos Wealth Management Inc. raised its stake in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares in the last quarter. High Point Wealth Management LLC bought a new position in shares of SBA Communications in the 4th quarter valued at approximately $39,000. Finally, Stance Capital LLC bought a new position in shares of SBA Communications in the 3rd quarter valued at approximately $45,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Trading Up 2.3%

SBAC opened at $204.78 on Wednesday. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The stock has a market capitalization 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. The business has a 50 day moving average of $208.60 and a 200-day moving average of $196.21.

SBA Communications Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 22nd. SBA Communications’s dividend payout ratio is currently 52.63%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Truist Financial reissued a “buy” rating and issued a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Weiss Ratings raised SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Morgan Stanley raised their price objective on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Scotiabank lifted their price target 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. Finally, Royal Bank Of Canada upped their price target on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.