JPMorgan Chase & Co. Has $867.80 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

JPMorgan Chase & Co. boosted its stake in SBA Communications Co. (NASDAQ:SBAC) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,258,116 shares of the technology company’s stock after purchasing an additional 3,656 shares during the quarter. JPMorgan Chase & Co.’s holdings in SBA Communications were worth $867,804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after buying an additional 50 shares in the last quarter. Versant Capital Management Inc increased its stake in SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after acquiring an additional 53 shares during the last quarter. Auxano Advisors LLC raised its position in SBA Communications by 2.3% during the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock valued at $495,000 after purchasing an additional 54 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in SBA Communications by 5.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock worth $225,000 after purchasing an additional 61 shares during the last quarter. Finally, Torray Investment Partners LLC boosted its holdings in shares of SBA Communications by 0.7% in the 4th quarter. Torray Investment Partners LLC now owns 9,788 shares of the technology company’s stock valued at $1,995,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.2 %

Shares of SBAC opened at $216.84 on Friday. The stock’s 50-day moving average price is $211.31 and its two-hundred day moving average price is $219.52. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The company has a market capitalization of $23.34 billion, a PE ratio of 34.20, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $1.11 dividend. The ex-dividend date was Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.05%. SBA Communications’s dividend payout ratio is presently 63.98%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SBAC. Wells Fargo & Company boosted their price target on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Barclays raised their price target on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, JMP Securities assumed coverage on shares of SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $252.85.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.