SBA Communications Co. (NASDAQ:SBAC – Get Free Report) declared a quarterly dividend on Sunday, July 28th, RTT News reports. Stockholders of record on Thursday, August 22nd will be paid a dividend of 0.98 per share by the technology company on Wednesday, September 18th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, August 22nd.
SBA Communications has increased its dividend by an average of 22.3% annually over the last three years. SBA Communications has a dividend payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect SBA Communications to earn $12.40 per share next year, which means the company should continue to be able to cover its $3.92 annual dividend with an expected future payout ratio of 31.6%.
SBA Communications Stock Up 0.5 %
Shares of NASDAQ SBAC opened at $219.49 on Wednesday. The company’s fifty day moving average is $206.26 and its 200-day moving average is $205.54. The stock has a market cap of $23.58 billion, a price-to-earnings ratio of 43.04, a P/E/G ratio of 0.68 and a beta of 0.65. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. TD Cowen dropped their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. KeyCorp raised their price objective on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. BMO Capital Markets lowered their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.54.
Get Our Latest Stock Report on SBAC
Insider Transactions at SBA Communications
In other news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.
Further Reading
- Five stocks we like better than SBA Communications
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- 3 Must-Buy Stocks Boosting Value with Buybacks—Act Now
- Stock Analyst Ratings and Canadian Analyst Ratings
- Is Lam Research the Semiconductor Stock You’ve Been Overlooking?
- What Are Trending Stocks? Trending Stocks Explained
- Are Tech Stocks Making a Comeback? 3 Top Picks Leading the Way
Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.