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

SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Monday, February 24th, RTT News reports. Investors of record on Thursday, March 13th will be given a dividend of 1.11 per share by the technology company on Thursday, March 27th. This represents a $4.44 annualized dividend and a yield of 2.09%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98.

SBA Communications has increased its dividend payment by an average of 19.1% per year over the last three years. SBA Communications has a dividend payout ratio of 42.7% 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 $3.92 annual dividend with an expected future payout ratio of 32.1%.

SBA Communications Stock Performance

NASDAQ:SBAC traded down $0.16 during midday trading on Monday, reaching $212.84. 1,171,344 shares of the stock traded hands, compared to its average volume of 764,356. The stock has a market capitalization of $22.89 billion, a P/E ratio of 33.57, a PEG ratio of 0.74 and a beta of 0.69. SBA Communications has a 12 month low of $183.64 and a 12 month high of $252.64. The company has a fifty day moving average of $202.62 and a 200 day moving average of $220.41.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, February 24th. The technology company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $1.39. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. On average, analysts predict that SBA Communications will post 12.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. JMP Securities initiated coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. Raymond James upped their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Finally, StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.00.

Insider Buying and Selling

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company 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.