JPMorgan Chase & Co. Has $958.56 Million Stock Position in SBA Communications Corporation $SBAC

JPMorgan Chase & Co. reduced its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 10.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,957,594 shares of the technology company’s stock after selling 563,163 shares during the quarter. JPMorgan Chase & Co. owned about 4.65% of SBA Communications worth $958,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Quent Capital LLC acquired a new position in SBA Communications in the third quarter valued at approximately $27,000. CVA Family Office LLC lifted its stake in shares of SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares during the period. Geneos Wealth Management Inc. boosted its position 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 worth $36,000 after purchasing an additional 84 shares during the last quarter. SJS Investment Consulting Inc. acquired a new stake in shares of SBA Communications during the third quarter worth $48,000. Finally, Center for Financial Planning Inc. bought a new stake in SBA Communications in the third quarter valued at about $50,000. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the subject of several analyst reports. TD Cowen restated a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. Wells Fargo & Company reduced their price objective on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 16th. BMO Capital Markets decreased their price objective on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. UBS Group cut their target price on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Finally, Barclays decreased their price target on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.18.

SBA Communications Trading Up 1.2%

SBAC stock opened at $203.12 on Wednesday. The stock has a 50-day moving average price of $189.48 and a two-hundred day moving average price of $196.23. SBA Communications Corporation has a 1 year low of $177.49 and a 1 year high of $245.16. The stock has a market cap of $21.64 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87.

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.