SBA Communications Co. (NASDAQ:SBAC) Declares $0.71 Quarterly Dividend

SBA Communications Co. (NASDAQ:SBACGet Rating) announced a quarterly dividend on Monday, April 25th, RTT News reports. Stockholders of record on Thursday, May 19th will be paid a dividend of 0.71 per share by the technology company on Tuesday, June 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.79%.

SBA Communications has a dividend payout ratio of 56.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect SBA Communications to earn $11.94 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 23.8%.

Shares of SBAC traded down $6.17 during trading hours on Monday, reaching $360.19. 48,742 shares of the company traded hands, compared to its average volume of 733,316. The stock has a market capitalization of $38.87 billion, a P/E ratio of 167.96 and a beta of 0.44. SBA Communications has a 12-month low of $281.45 and a 12-month high of $391.15. The business has a fifty day moving average price of $333.02 and a 200-day moving average price of $340.68.

SBA Communications (NASDAQ:SBACGet Rating) last posted its quarterly earnings results on Monday, February 28th. The technology company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.25). SBA Communications had a net margin of 10.29% and a negative return on equity of 4.72%. The business had revenue of $595.30 million during the quarter, compared to analysts’ expectations of $589.77 million. During the same period in the previous year, the company posted $2.49 earnings per share. SBA Communications’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts anticipate that SBA Communications will post 11.02 EPS for the current fiscal year.

Several equities research analysts have commented on the stock. Barclays upped their price target on shares of SBA Communications from $373.00 to $378.00 and gave the company an “overweight” rating in a report on Tuesday, April 19th. KeyCorp upped their price target on shares of SBA Communications from $379.00 to $384.00 and gave the company an “overweight” rating in a report on Tuesday, March 1st. Credit Suisse Group lowered their price target on shares of SBA Communications from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Tuesday, March 1st. Morgan Stanley upped their price target on shares of SBA Communications from $384.00 to $412.00 and gave the company an “overweight” rating in a report on Thursday, April 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of SBA Communications from $370.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $386.43.

In other SBA Communications news, Director George R. Krouse, Jr. sold 500 shares of the stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $328.88, for a total value of $164,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kurt L. Bagwell sold 3,757 shares of the stock in a transaction dated Wednesday, March 9th. The shares were sold at an average price of $330.00, for a total transaction of $1,239,810.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,260 shares of company stock valued at $1,404,992. Insiders own 1.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Horizon Investments LLC raised its holdings in SBA Communications by 9.2% in the 4th quarter. Horizon Investments LLC now owns 792 shares of the technology company’s stock valued at $308,000 after acquiring an additional 67 shares during the last quarter. NEXT Financial Group Inc raised its holdings in SBA Communications by 20.6% in the 4th quarter. NEXT Financial Group Inc now owns 696 shares of the technology company’s stock valued at $271,000 after acquiring an additional 119 shares during the last quarter. Peapack Gladstone Financial Corp raised its holdings in SBA Communications by 2.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 5,251 shares of the technology company’s stock valued at $2,043,000 after acquiring an additional 137 shares during the last quarter. Neo Ivy Capital Management raised its holdings in SBA Communications by 212.3% in the 4th quarter. Neo Ivy Capital Management now owns 381 shares of the technology company’s stock valued at $148,000 after acquiring an additional 259 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its holdings in SBA Communications by 21.0% in the 4th quarter. Vident Investment Advisory LLC now owns 1,944 shares of the technology company’s stock valued at $756,000 after acquiring an additional 337 shares during the last quarter. Institutional investors own 94.02% of the company’s stock.

SBA Communications Company Profile (Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By ÂBuilding Better Wireless, SBA generates revenue from two primary businesses Â- site leasing and site development services.

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Dividend History for SBA Communications (NASDAQ:SBAC)

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