SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in SBA Communications Co. (NASDAQ:SBAC) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,518 shares of the technology company’s stock after buying an additional 3,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in SBA Communications were worth $4,793,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in SBA Communications by 219,537.5% in the 3rd quarter. International Assets Investment Management LLC now owns 35,142 shares of the technology company’s stock worth $8,459,000 after purchasing an additional 35,126 shares during the period. Assenagon Asset Management S.A. increased its position in shares of SBA Communications by 1.4% in the third quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after buying an additional 64 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of SBA Communications in the third quarter valued at approximately $231,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of SBA Communications by 26.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,724 shares of the technology company’s stock worth $2,559,000 after buying an additional 2,232 shares during the period. Finally, Modera Wealth Management LLC purchased a new position in shares of SBA Communications during the 3rd quarter valued at approximately $884,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Up 3.0 %

NASDAQ SBAC opened at $219.17 on Wednesday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The business’s fifty day simple moving average is $202.83 and its 200-day simple moving average is $220.43. The firm has a market cap of $23.57 billion, a PE ratio of 34.57, a P/E/G ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $1.11 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. SBA Communications’s dividend payout ratio is 61.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SBAC shares. Barclays cut their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Raymond James raised their target price on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.00.

Insider Activity

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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.