On March 30, 2023, MoffettNathanson upgraded their outlook for SBA Communications (NASDAQ:SBAC) from Market Perform to Outperform.
Analyst Price Forecast Suggests 31.18% Upside
As of March 30, 2023, the average one-year price target for SBA Communications is $333.41. The forecasts range from a low of $297.95 to a high of $369.60. The average price target represents an increase of 31.18% from its latest reported closing price of $254.17.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SBA Communications is $2,787MM, an increase of 5.83%. The projected annual non-GAAP EPS is $4.58.
SBA Communications Declares $0.85 Dividend
On February 21, 2023 the company declared a regular quarterly dividend of $0.85 per share ($3.40 annualized). Shareholders of record as of March 10, 2023 received the payment on March 24, 2023. Previously, the company paid $0.71 per share.
At the current share price of $254.17 / share, the stock's dividend yield is 1.34%. Looking back five years and taking a sample every week, the average dividend yield has been 1.07%, the lowest has been 0.56%, and the highest has been 2.28%. The standard deviation of yields is 0.56 (n=236).
The current dividend yield is 0.47 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.80. 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.
The company's 3-Year dividend growth rate is 0.83%, demonstrating that it has increased its dividend over time.
What are Large Shareholders Doing?
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 4,889K shares representing 4.53% ownership of the company. In it's prior filing, the firm reported owning 4,989K shares, representing a decrease of 2.04%. The firm decreased its portfolio allocation in SBAC by 5.14% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,282K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 3,219K shares, representing an increase of 1.91%. The firm decreased its portfolio allocation in SBAC by 7.29% over the last quarter.
Price T Rowe Associates holds 3,244K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 3,396K shares, representing a decrease of 4.68%. The firm decreased its portfolio allocation in SBAC by 7.63% over the last quarter.
Deutsche Bank Ag\ holds 2,879K shares representing 2.67% ownership of the company. No change in the last quarter.
Principal Financial Group holds 2,787K shares representing 2.58% ownership of the company. In it's prior filing, the firm reported owning 2,925K shares, representing a decrease of 4.97%. The firm decreased its portfolio allocation in SBAC by 51.88% over the last quarter.
What is the Fund Sentiment?
There are 1651 funds or institutions reporting positions in SBA Communications. This is an increase of 66 owner(s) or 4.16% in the last quarter. Average portfolio weight of all funds dedicated to SBAC is 0.62%, an increase of 13.18%. Total shares owned by institutions increased in the last three months by 1.23% to 122,499K shares. The put/call ratio of SBAC is 0.33, indicating a bullish outlook.
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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
