SBA Communications (SBAC) Declares $0.98 Dividend
SBA Communications said on February 26, 2024 that its board of directors declared a regular quarterly dividend of $0.98 per share ($3.92 annualized). Previously, the company paid $0.85 per share.
Shares must be purchased before the ex-div date of March 13, 2024 to qualify for the dividend. Shareholders of record as of March 14, 2024 will receive the payment on March 28, 2024.
At the current share price of $208.29 / share, the stock's dividend yield is 1.88%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.96%, the lowest has been 0.56%, and the highest has been 1.86%. The standard deviation of yields is 0.38 (n=234).
The current dividend yield is 2.41 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.84. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.69%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1552 funds or institutions reporting positions in SBA Communications. This is an increase of 33 owner(s) or 2.17% in the last quarter. Average portfolio weight of all funds dedicated to SBAC is 0.45%, an increase of 4.60%. Total shares owned by institutions increased in the last three months by 0.92% to 126,101K shares. 
The put/call ratio of SBAC is 0.49, indicating a bullish outlook.
Analyst Price Forecast Suggests 35.79% Upside
As of February 24, 2024, the average one-year price target for SBA Communications is 282.83. The forecasts range from a low of 244.42 to a high of $360.15. The average price target represents an increase of 35.79% from its latest reported closing price of 208.29.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SBA Communications is 2,903MM, an increase of 7.06%. The projected annual non-GAAP EPS is 5.62.
What are Other Shareholders Doing?
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 4,467K shares representing 4.13% ownership of the company. In it's prior filing, the firm reported owning 4,564K shares, representing a decrease of 2.18%. The firm increased its portfolio allocation in SBAC by 10.74% over the last quarter.
Cohen & Steers holds 4,046K shares representing 3.74% ownership of the company. In it's prior filing, the firm reported owning 5,788K shares, representing a decrease of 43.05%. The firm decreased its portfolio allocation in SBAC by 22.02% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,393K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 3,372K shares, representing an increase of 0.62%. The firm increased its portfolio allocation in SBAC by 13.97% over the last quarter.
Principal Financial Group holds 2,776K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 2,802K shares, representing a decrease of 0.93%. The firm decreased its portfolio allocation in SBAC by 38.52% over the last quarter.
Geode Capital Management holds 2,683K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 2,637K shares, representing an increase of 1.71%. The firm increased its portfolio allocation in SBAC by 13.20% over the last quarter.
SBA Communications Background Information
(This description is provided by the company.)
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. SBA is part of the S&P 500 and is one of the top Real Estate Investment Trusts (REITs) by market capitalization.
Additional reading:
- SBA COMMUNICATIONS CORPORATION Form of Senior Indenture Dated as of _____________, 20___
- SBA COMMUNICATIONS CORPORATION Form of Subordinated Indenture Dated as of _____________, 20___
- Second Amended and Restated Employment Agreement, dated as of February 19, 2024, between SBA Communications Corporation and Brendan T. Cavanagh.†*
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