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

SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Monday, October 28th, Zacks 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 1.66%. The ex-dividend date is Thursday, November 14th.

SBA Communications has raised its dividend by an average of 22.3% per year over the last three years. SBA Communications has a dividend payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect SBA Communications to earn $12.29 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 31.9%.

SBA Communications Trading Up 1.8 %

SBAC traded up $4.15 during trading on Wednesday, hitting $235.90. 85,082 shares of the company’s stock traded hands, compared to its average volume of 914,464. The stock has a market capitalization of $25.35 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 0.73 and a beta of 0.67. SBA Communications has a 12-month low of $183.64 and a 12-month high of $258.76. The company’s 50 day simple moving average is $237.52 and its two-hundred day simple moving average is $214.04.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The firm had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $669.29 million. During the same period in the prior year, the company posted $3.34 earnings per share. The company’s revenue was down 2.2% compared to the same quarter last year. On average, equities analysts expect that SBA Communications will post 12.52 EPS for the current year.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several analyst reports. The Goldman Sachs Group boosted their target price on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Morgan Stanley increased their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Finally, TD Cowen boosted their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

Insider Transactions at SBA Communications

In other news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the sale, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now owns 8,084 shares in the company, valued at $1,775,084.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,590 shares of company stock valued at $11,483,981. Corporate insiders own 1.30% of the company’s stock.

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.