SBA Communications Corporation (NASDAQ:SBAC) Announces Quarterly Dividend of $1.25

SBA Communications Corporation (NASDAQ:SBAC) declared a quarterly dividend on Monday, August 3rd. Investors of record on Thursday, August 20th will be paid a dividend of 1.25 per share by the technology company on Thursday, September 17th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date is Thursday, August 20th.

SBA Communications has raised its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 6 years. SBA Communications has a dividend payout ratio of 54.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SBA Communications to earn $11.32 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 44.2%.

SBA Communications Stock Down 0.8%

Shares of SBA Communications stock opened at $179.54 on Tuesday. The firm has a market cap of $19.04 billion, a PE ratio of 18.90, a P/E/G ratio of 1.81 and a beta of 1.00. SBA Communications has a twelve month low of $162.41 and a twelve month high of $231.34. The business has a 50-day moving average price of $188.90 and a 200 day moving average price of $194.68.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of SBA Communications in a research report on Monday, July 20th. KeyCorp upped their price objective on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. The Goldman Sachs Group began coverage on shares of SBA Communications in a research note on Friday, June 26th. They set a “neutral” rating and a $205.00 price target on the stock. Wells Fargo & Company raised shares of SBA Communications from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $220.00 to $210.00 in a report on Friday, July 17th. Finally, Scotiabank increased their price objective on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.72.

About SBA Communications

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.