SBA Communications Co. (NASDAQ:SBAC) Announces Dividend Increase – $1.11 Per Share

SBA Communications Co. (NASDAQ:SBAC) announced a quarterly dividend on Sunday, February 23rd, RTT News reports. Stockholders of record on Thursday, March 13th will be paid a dividend of 1.11 per share by the technology company on Thursday, March 27th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, March 13th. This is a 13.3% increase from SBA Communications’s previous quarterly dividend of $0.98.

SBA Communications has a payout ratio of 49.2% meaning its dividend is sufficiently covered by earnings. Analysts expect SBA Communications to earn $12.22 per share next year, which means the company should continue to be able to cover its $4.44 annual dividend with an expected future payout ratio of 36.3%.

SBA Communications Stock Up 0.5 %

Shares of NASDAQ SBAC opened at $224.91 on Tuesday. The company has a market cap of $24.18 billion, a PE ratio of 35.47, a PEG ratio of 0.74 and a beta of 0.74. The firm’s 50-day moving average price is $206.00 and its 200-day moving average price is $220.56. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Barclays dropped their price objective on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. JMP Securities assumed coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective on the stock. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and a consensus price target of $252.54.

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.