SBA Communications Co. (NASDAQ:SBAC) Plans Quarterly Dividend of $0.98

SBA Communications Co. (NASDAQ:SBAC) announced a quarterly dividend on Sunday, October 27th,Zacks Dividends reports. Stockholders of record on Thursday, November 14th will be paid a dividend of 0.98 per share by the technology company on Thursday, December 12th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, November 14th.

SBA Communications has raised its dividend by an average of 22.3% per year over the last three years. SBA Communications has a dividend payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect SBA Communications to earn $12.22 per share next year, which means the company should continue to be able to cover its $3.92 annual dividend with an expected future payout ratio of 32.1%.

SBA Communications Stock Up 0.6 %

SBAC opened at $221.01 on Wednesday. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76. The firm has a 50 day moving average price of $237.29 and a 200-day moving average price of $215.99. The stock has a market capitalization of $23.76 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 0.74 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $669.29 million. During the same quarter last year, the business earned $3.34 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, analysts expect that SBA Communications will post 12.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SBAC shares. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price target on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Barclays boosted their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their target price on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley boosted their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $257.23.

Insider Activity at SBA Communications

In other news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.