SBA Communications Corporation Declares Quarterly Dividend of $1.11 (NASDAQ:SBAC)

SBA Communications Corporation (NASDAQ:SBAC) announced a quarterly dividend on Monday, November 3rd. Shareholders of record on Thursday, November 13th will be paid a dividend of 1.11 per share by the technology company on Thursday, December 11th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, November 13th.

SBA Communications has increased its dividend by an average of 0.4%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 48.2% 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 Stock Performance

Shares of SBAC stock opened at $193.52 on Tuesday. SBA Communications has a 52-week low of $185.45 and a 52-week high of $245.16. The firm has a market capitalization of $20.78 billion, a PE ratio of 24.59, a PEG ratio of 2.01 and a beta of 0.82. The stock has a fifty day simple moving average of $196.15 and a two-hundred day simple moving average of $217.92.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. The firm had revenue of $732.33 million during the quarter, compared to analyst estimates of $715.65 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.32 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that SBA Communications will post 12.57 EPS for the current fiscal year.

Institutional Trading of SBA Communications

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in SBA Communications by 0.5% in the second quarter. Vanguard Group Inc. now owns 17,760,251 shares of the technology company’s stock worth $4,170,817,000 after purchasing an additional 93,582 shares during the last quarter. Dodge & Cox lifted its stake in SBA Communications by 1.5% in the second quarter. Dodge & Cox now owns 8,608,494 shares of the technology company’s stock worth $2,021,619,000 after purchasing an additional 123,230 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of SBA Communications by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock valued at $1,314,265,000 after acquiring an additional 1,715,541 shares in the last quarter. State Street Corp raised its stake in shares of SBA Communications by 0.5% during the second quarter. State Street Corp now owns 4,613,181 shares of the technology company’s stock valued at $1,083,359,000 after acquiring an additional 24,793 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of SBA Communications by 7.3% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company’s stock valued at $439,310,000 after acquiring an additional 135,682 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

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.