SBA Communications Corporation (SBAC) To Go Ex-Dividend on May 22nd

SBA Communications Corporation (NASDAQ:SBAC) declared a quarterly dividend on Tuesday, April 28th. Investors of record on Friday, May 22nd will be paid a dividend of 1.25 per share by the technology company on Wednesday, June 17th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, May 22nd.

SBA Communications has increased its dividend by an average of 0.2%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 54.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SBA Communications to earn $11.32 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 44.2%.

SBA Communications Stock Up 2.1%

SBAC stock opened at $207.51 on Wednesday. The business has a 50 day moving average of $201.56 and a 200 day moving average of $195.44. The firm has a market cap of $22.01 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.03 and a beta of 1.03. SBA Communications has a twelve month low of $162.41 and a twelve month high of $243.16.

SBA Communications (NASDAQ:SBAC) last released its earnings results 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 20.90% and a net margin of 35.66%.The firm had revenue of $719.58 million for the quarter, compared to analysts’ expectations of $725.80 million. During the same period in the prior year, the firm posted $3.47 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts expect that SBA Communications will post 11.42 earnings per share for the current fiscal year.

Institutional Trading of SBA Communications

A number of institutional investors have recently made changes to their positions in the stock. Elevation Wealth Partners LLC raised its holdings in shares of SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. DV Equities LLC purchased a new stake in SBA Communications in the fourth quarter worth approximately $29,000. Fulcrum Asset Management LLP bought a new stake in SBA Communications in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. grew its position in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the period. Finally, High Point Wealth Management LLC purchased a new stake in SBA Communications during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

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.