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

SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Monday, April 29th, RTT News reports. Investors of record on Thursday, May 23rd will be given a dividend of 0.98 per share by the technology company on Wednesday, June 19th. This represents a $3.92 annualized dividend and a yield of 1.94%.

SBA Communications has increased its dividend payment by an average of 22.3% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. SBA Communications has a dividend payout ratio of 67.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect SBA Communications to earn $12.69 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 30.9%.

SBA Communications Price Performance

SBAC stock opened at $201.89 on Tuesday. SBA Communications has a 1 year low of $185.23 and a 1 year high of $263.08. The firm has a market capitalization of $21.83 billion, a P/E ratio of 43.79, a P/E/G ratio of 1.21 and a beta of 0.56. The business’s 50-day moving average is $209.91 and its two-hundred day moving average is $222.86.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.21. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The firm had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $671.08 million. During the same quarter last year, the company earned $3.13 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. On average, analysts expect that SBA Communications will post 12.61 EPS for the current year.

Insider Activity at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SBAC. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Thursday, March 7th. BMO Capital Markets cut their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Finally, Barclays lowered their price target on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $268.00.

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.