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

SBA Communications Co. (NASDAQ:SBAC) announced a quarterly dividend on Monday, February 24th, RTT News reports. Shareholders of record on Thursday, March 13th will be paid a dividend of 1.11 per share by the technology company on Thursday, March 27th. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98.

SBA Communications has raised its dividend payment by an average of 19.1% annually over the last three years. SBA Communications has a dividend payout ratio of 49.2% meaning 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 $4.44 annual dividend with an expected future payout ratio of 36.3%.

SBA Communications Stock Up 3.0 %

Shares of NASDAQ:SBAC opened at $219.17 on Wednesday. The business’s 50 day moving average is $202.83 and its 200 day moving average is $220.43. SBA Communications has a 12-month low of $183.64 and a 12-month high of $252.64. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 0.74 and a beta of 0.69.

Analysts Set New Price Targets

A number of brokerages have issued reports on SBAC. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company cut their price objective on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. TD Cowen raised their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Raymond James boosted their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.00.

Insider Activity

In related news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.