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

SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Monday, October 28th, Zacks reports. Stockholders of record on Thursday, November 14th will be given a dividend of 0.98 per share by the technology company on Thursday, December 12th. This represents a $3.92 annualized dividend and a dividend yield of 1.67%. 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 payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect SBA Communications to earn $12.29 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 31.9%.

SBA Communications Price Performance

Shares of NASDAQ SBAC traded up $2.92 during mid-day trading on Wednesday, reaching $234.67. 163,597 shares of the company traded hands, compared to its average volume of 914,838. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The firm has a market cap of $25.22 billion, a PE ratio of 48.89, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. The stock has a fifty day simple moving average of $237.52 and a 200-day simple moving average of $214.04.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same quarter last year, the firm posted $3.34 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, analysts predict that SBA Communications will post 12.52 EPS for the current fiscal year.

Insider Transactions at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now owns 8,084 shares in the company, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,590 shares of company stock worth $11,483,981. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. BMO Capital Markets raised their target price on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday. TD Cowen lifted their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday. KeyCorp upped their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company lifted their price target on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.23.

About SBA Communications

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.