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

SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Thursday, November 14th.

SBA Communications has raised its dividend payment by an average of 22.3% per year over the last three years. SBA Communications has a dividend payout ratio of 43.2% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 1.3 %

Shares of SBAC stock traded up $2.95 during mid-day trading on Wednesday, hitting $234.70. 146,499 shares of the stock were exchanged, compared to its average volume of 914,757. SBA Communications has a 52-week low of $183.64 and a 52-week high of $258.76. The firm has a fifty day moving average of $237.52 and a 200 day moving average of $214.04. The company 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.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Wells Fargo & Company upped 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. KeyCorp boosted their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group increased their target price on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Finally, BMO Capital Markets lifted their price target on SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.23.

Insider Activity

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

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.