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

SBA Communications Co. (NASDAQ:SBAC) announced a quarterly dividend on Sunday, October 27th,Zacks Dividends reports. Shareholders of record on Thursday, November 14th will be paid 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 dividend yield of 1.78%. The ex-dividend date is Thursday, November 14th.

SBA Communications has increased its dividend payment by an average of 22.3% annually over the last three years. SBA Communications has a dividend payout ratio of 43.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SBA Communications to earn $12.22 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 32.1%.

SBA Communications Trading Down 1.7 %

Shares of SBAC stock opened at $220.19 on Tuesday. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76. The company has a market cap of $23.68 billion, a P/E ratio of 34.73, a PEG ratio of 0.76 and a beta of 0.68. The firm has a fifty day moving average price of $237.64 and a 200 day moving average price of $215.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.34 EPS. On average, equities analysts forecast that SBA Communications will post 12.56 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on SBAC. BMO Capital Markets lifted their target price on shares of SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Barclays lifted their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. KeyCorp upped their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, TD Cowen boosted their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $257.23.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.