SBA Communications Co. (NASDAQ:SBAC) to Issue Quarterly Dividend of $1.11

SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Shareholders of record on Thursday, May 22nd will be paid a dividend of 1.11 per share by the technology company on Tuesday, June 17th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, May 22nd.

SBA Communications has raised its dividend by an average of 19.1% annually over the last three years and has raised its dividend every year for the last 6 years. SBA Communications has a payout ratio of 47.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect SBA Communications to earn $12.22 per share next year, which means the company should continue to be able to cover its $4.44 annual dividend with an expected future payout ratio of 36.3%.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $235.51 on Tuesday. The firm has a 50-day simple moving average of $224.85 and a two-hundred day simple moving average of $215.90. The company has a market cap of $25.34 billion, a P/E ratio of 37.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications has a fifty-two week low of $185.44 and a fifty-two week high of $252.64.

Insider Buying and Selling at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This represents a 26.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jack Langer sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now directly owns 10,522 shares of the company’s stock, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.

Institutional Trading of SBA Communications

An institutional investor recently raised its position in SBA Communications stock. Jones Financial Companies Lllp increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 272.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 753 shares of the technology company’s stock after purchasing an additional 551 shares during the period. Jones Financial Companies Lllp’s holdings in SBA Communications were worth $166,000 at the end of the most recent reporting period. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SBAC. Citigroup upped their price target on shares of SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Bank of America began coverage on shares of SBA Communications in a research report on Monday. They set a “buy” rating and a $260.00 price target for the company. JMP Securities upped their price target on shares of SBA Communications from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 29th. Finally, Barclays upped their price target on shares of SBA Communications from $244.00 to $247.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $252.93.

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.