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

SBA Communications Co. (NASDAQ:SBAC - Get Free Report) announced a quarterly dividend on Monday, October 28th, Zacks reports. Stockholders 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 1.69%. The ex-dividend date of this dividend is Thursday, November 14th.

SBA Communications has increased its dividend payment by an average of 22.3% per year over the last three years. SBA Communications has a payout ratio of 43.2% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

NASDAQ:SBAC traded up $0.13 during midday trading on Wednesday, reaching $231.88. 821,870 shares of the company traded hands, compared to its average volume of 917,973. The firm has a market capitalization of $24.92 billion, a price-to-earnings ratio of 49.14, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. The company has a fifty day moving average price of $237.52 and a 200 day moving average price of $214.04. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76.

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

Analysts Set New Price Targets

Several analysts recently commented on the company. KeyCorp raised their target price on SBA Communications from $230.00 to $280.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. TD Cowen lifted their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research note on Tuesday. Barclays increased their target price on shares of SBA Communications from $236.00 to $256.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Morgan Stanley boosted their price target on shares of SBA Communications from $232.00 to $252.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $257.23.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company's stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now owns 109,583 shares of the company's stock, valued at $24,328,521.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the firm'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 transaction of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares of the company's stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,590 shares of company stock worth $11,483,981 in the last quarter. 1.30% of the stock is owned by company insiders.

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.