SBA Communications Co. (SBAC) to Issue Quarterly Dividend of $1.11 on June 17th

SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Investors of record on Thursday, May 22nd will be given a dividend of 1.11 per share by the technology company on Tuesday, June 17th. This represents a $4.44 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, May 22nd.

SBA Communications has increased its dividend by an average of 19.1% annually over the last three years and has raised its dividend every year for the last 6 years. SBA Communications has a payout ratio of 47.9% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ:SBAC opened at $235.51 on Tuesday. SBA Communications has a 1 year low of $185.44 and a 1 year high of $252.64. The business has a 50 day simple moving average of $224.85 and a two-hundred day simple moving average of $215.90. The firm has a market capitalization of $25.34 billion, a PE ratio of 37.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Bank of America initiated coverage on shares of SBA Communications in a research note on Monday. They set a “buy” rating and a $260.00 price target for the company. Wells Fargo & Company lifted their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Barclays lifted their price target on shares of SBA Communications from $244.00 to $247.00 and gave the company an “overweight” rating in a research note on Tuesday, April 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $252.93.

Insider Activity

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the sale, the director now directly owns 10,522 shares of the company’s stock, valued at approximately $2,531,487.98. This represents a 32.21% 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 this link. Also, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

An institutional investor recently raised its position in SBA Communications stock. Jones Financial Companies Lllp raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 272.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 753 shares of the technology company’s stock after purchasing an additional 551 shares during the quarter. Jones Financial Companies Lllp’s holdings in SBA Communications were worth $166,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 97.35% 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.