SBA Communications Corporation (SBAC) To Go Ex-Dividend on August 20th

SBA Communications Corporation (NASDAQ:SBAC) announced a quarterly dividend on Sunday, August 2nd. Investors of record on Thursday, August 20th will be given a dividend of 1.25 per share by the technology company on Thursday, September 17th. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, August 20th.

SBA Communications has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 6 years. SBA Communications has a dividend payout ratio of 54.2% meaning its dividend is sufficiently covered by earnings. Analysts expect SBA Communications to earn $11.61 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 43.1%.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $182.11 on Tuesday. SBA Communications has a 1-year low of $162.41 and a 1-year high of $225.33. The stock has a market cap of $19.32 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.85 and a beta of 0.99. The firm has a fifty day moving average price of $185.10 and a 200 day moving average price of $194.27.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, August 3rd. The technology company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The business had revenue of $715.27 million during the quarter, compared to analysts’ expectations of $706.01 million. During the same period in the prior year, the company earned $3.17 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that SBA Communications will post 11.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on SBA Communications from $230.00 to $220.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of SBA Communications in a research note on Monday, July 20th. The Goldman Sachs Group initiated coverage on SBA Communications in a report on Friday, June 26th. They set a “neutral” rating and a $205.00 price target for the company. TD Cowen restated a “buy” rating on shares of SBA Communications in a research report on Tuesday, August 4th. Finally, Truist Financial dropped their price target on shares of SBA Communications from $248.00 to $238.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $228.12.

SBA Communications Company Profile

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.