SBA Communications Corporation (NASDAQ:SBAC) Stock to Pay Quarterly Dividend of $1.25

SBA Communications Corporation (NASDAQ:SBAC) declared a quarterly dividend on Monday, November 2nd. Shareholders of record on Thursday, November 12th will be paid a dividend of $1.25 per share by the technology company on Thursday, December 10th. This represents a $5.00 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, November 12th.

SBA Communications has increased its dividend by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. SBA Communications has a dividend payout ratio of 54.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect SBA Communications to earn $11.63 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 43.0%.

SBA Communications Stock Down 1.2%

Shares of SBA Communications stock opened at $184.86 on Tuesday. The stock’s fifty day moving average is $179.46 and its two-hundred day moving average is $190.01. SBA Communications has a 52 week low of $156.60 and a 52 week high of $224.46. The company has a market capitalization of $19.61 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, November 2nd. The technology company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $2.09 by $1.10. The business had revenue of $713.92 million during the quarter, compared to the consensus estimate of $724.07 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $3.30 earnings per share. As a group, research analysts anticipate that SBA Communications will post 11.40 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company raised shares of SBA Communications from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $220.00 to $210.00 in a research note on Friday, July 17th. JPMorgan Chase & Co. lowered their price objective on shares of SBA Communications from $230.00 to $220.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Morgan Stanley dropped their target price on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Monday, September 21st. Royal Bank Of Canada reduced their target price on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Finally, TD Cowen reaffirmed a “buy” rating on shares of SBA Communications in a research report on Tuesday, August 4th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $226.53.

About SBA Communications

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company’s portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.