SBA Communications Co. (SBAC) To Go Ex-Dividend on March 13th

SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Sunday, February 23rd, RTT News reports. Shareholders of record on Thursday, March 13th will be given a dividend of 1.11 per share by the technology company on Thursday, March 27th. This represents a $4.44 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, March 13th. This is a 13.3% increase from SBA Communications’s previous quarterly dividend of $0.98.

SBA Communications has a dividend payout ratio of 49.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

SBAC stock opened at $224.91 on Tuesday. SBA Communications has a one year low of $183.64 and a one year high of $252.64. The stock has a market cap of $24.18 billion, a PE ratio of 35.47, a P/E/G ratio of 0.74 and a beta of 0.74. The firm has a 50 day simple moving average of $206.00 and a two-hundred day simple moving average of $220.56.

Insider Buying and Selling

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SBAC shares. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target for the company. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Barclays dropped their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.54.

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.