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

SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Monday, April 29th, RTT News reports. Investors of record on Thursday, May 23rd will be paid a dividend of 0.98 per share by the technology company on Wednesday, June 19th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.94%.

SBA Communications has increased its dividend by an average of 22.3% annually over the last three years and has increased its dividend every year for the last 5 years. SBA Communications has a dividend payout ratio of 67.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect SBA Communications to earn $12.69 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 30.9%.

SBA Communications Stock Up 2.9 %

Shares of NASDAQ SBAC opened at $201.89 on Tuesday. The business has a fifty day simple moving average of $209.91 and a 200-day simple moving average of $222.86. The company has a market cap of $21.83 billion, a price-to-earnings ratio of 43.79, a P/E/G ratio of 1.21 and a beta of 0.56. SBA Communications has a 12 month low of $185.23 and a 12 month high of $263.08.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.21. The business had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $3.13 earnings per share. As a group, sell-side analysts expect that SBA Communications will post 12.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the transaction, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays lowered their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Thursday, March 7th. Finally, BMO Capital Markets cut their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, SBA Communications has a consensus rating of “Buy” and a consensus price target of $268.00.

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.