SBA Communications Corporation (NASDAQ:SBAC) Declares Dividend Increase – $1.25 Per Share

SBA Communications Corporation (NASDAQ:SBAC) declared a quarterly dividend on Thursday, February 26th. Investors of record on Friday, March 13th will be paid a dividend of 1.25 per share by the technology company on Friday, March 27th. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, March 13th. This is a 12.6% increase from SBA Communications’s previous quarterly dividend of $1.11.

SBA Communications has raised its dividend payment by an average of 0.4%annually over the last three years and has raised its dividend annually for the last 6 consecutive years. SBA Communications has a dividend payout ratio of 48.2% 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 Trading Up 2.2%

Shares of SBAC traded up $4.27 during mid-day trading on Friday, reaching $196.44. The company had a trading volume of 745,336 shares, compared to its average volume of 879,525. SBA Communications has a fifty-two week low of $177.49 and a fifty-two week high of $245.16. The firm has a fifty day simple moving average of $190.44 and a 200-day simple moving average of $195.40. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 1.87 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.25 by $0.22. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The business had revenue of $719.58 million during the quarter, compared to the consensus estimate of $725.80 million. During the same period in the prior year, the firm posted $3.47 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities analysts predict that SBA Communications will post 12.57 EPS for the current fiscal year.

Institutional Trading of SBA Communications

Several institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its position in shares of SBA Communications by 272.8% during the first quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock worth $166,000 after purchasing an additional 551 shares during the last quarter. Empowered Funds LLC increased its holdings in SBA Communications by 12.6% in the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after buying an additional 229 shares during the last quarter. Focus Partners Wealth raised its stake in SBA Communications by 9.0% during the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after buying an additional 266 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of SBA Communications in the 2nd quarter worth approximately $490,000. 97.35% of the stock is owned by institutional investors and hedge funds.

About SBA Communications

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.