SBA Communications Co. (NASDAQ:SBAC) to Issue $1.11 Quarterly Dividend

SBA Communications Co. (NASDAQ:SBAC - Get Free Report) announced a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Shareholders 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 1.84%. The ex-dividend date of this dividend is Thursday, May 22nd.

SBA Communications has increased its dividend payment by an average of 19.1% annually over the last three years. SBA Communications has a payout ratio of 49.6% meaning its dividend is sufficiently covered by earnings. Research 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 0.4 %

Shares of SBAC traded up $0.89 during trading hours on Friday, reaching $241.63. The stock had a trading volume of 374,191 shares, compared to its average volume of 898,716. The company has a market cap of $26.00 billion, a P/E ratio of 38.07, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications has a 52 week low of $185.44 and a 52 week high of $252.64. The firm has a 50-day moving average of $221.19 and a 200 day moving average of $216.71.

Analyst Ratings Changes

A number of research firms have recently commented on SBAC. StockNews.com lowered SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Raymond James reiterated a "strong-buy" rating and issued a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a report on Tuesday. Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Finally, JMP Securities upped their target price on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $252.38.

Insider Activity

In other SBA Communications news, 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 sale, the vice president now directly owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.92% of the stock is currently owned by insiders.

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.