Welcome to our dedicated page for SBA Communications news (Ticker: SBAC), a resource for investors and traders seeking the latest updates and insights on SBA Communications stock.
SBA Communications Corporation (SBA), founded in 1989 and headquartered in Boca Raton, Florida, is a leading independent owner and operator of wireless communications infrastructure across North, Central, and South America. Listed on NASDAQ under the symbol SBAC, SBA focuses on 'building better wireless' through two primary business segments: site leasing and site development services.
In their site leasing business, SBA leases antenna space on their multi-tenant towers and other structures to a variety of wireless service providers under long-term contracts. This segment includes nearly 40,000 cell towers across North America, South America, and Africa. In the United States alone, SBA owns over 17,000 towers, generating approximately 70% of its total revenue in 2023. Internationally, the company's largest footprint is in Brazil, where it operates close to 10,000 towers.
The site development business supports wireless service providers and operators in developing their own networks. This includes services like site acquisition, zoning, construction, and equipment installation.
As a real estate investment trust (REIT), SBA's growth is driven by increasing consumer demand for wireless data, the deployment of newer technologies like 5G, and strategic international expansions. By diversifying their geographical presence and expanding their site portfolio, SBA aims to provide robust infrastructure solutions that cater to the evolving needs of wireless service providers.
SBA Communications maintains a strong financial condition with robust revenue streams from its diversified leasing contracts. Their concentrated customer base mainly includes the top mobile carriers, ensuring consistent and reliable revenue generation. The company's commitment to innovation and expansion solidifies its position as a key player in the wireless communications infrastructure market.
SBA Communications Corporation (NASDAQ: SBAC) announced that it will release its first quarter results on May 1, 2023 after market close. A conference call to discuss these results is scheduled for 5:00 PM EDT on the same day. Investors can access the call by dialing 877-692-8955 with access code 1432720. The replay will be available starting May 2, 2023, until May 15, 2023, at the number (866) 207-1041 with access code 6182707. SBA operates over 39,000 communications sites across 16 markets in the Americas, Africa, and the Philippines, positioning itself as a key player in wireless infrastructure.
SBA Communications Corporation (NASDAQ: SBAC) announced that CEO Jeffrey A. Stoops will speak at the 2023 Citi Global Property CEO Conference on Tuesday, March 7, 2023, at 1:00 PM ET. The event will be held at The Diplomat Resort & Spa in Hollywood, Florida. Investors and interested parties can access the audio presentation by visiting www.sbasite.com. SBA Communications operates over 39,000 wireless communication sites across the Americas, Africa, and the Philippines, solidifying its position as a top Real Estate Investment Trust (REIT) in the S&P 500.
SBA Communications Corporation (NASDAQ: SBAC) has announced that Brendan Cavanagh, Chief Financial Officer, will speak at the Raymond James & Associates 44th Annual Institutional Investors Conference on Monday, March 6, 2023, at 9:50 AM ET. The event will take place at the JW Marriott Grand Lakes in Orlando, Florida. Investors can access the audio presentation through the company's website, www.sbasite.com. SBA Communications is a leading independent owner and operator of wireless communications infrastructure, with over 39,000 sites across the Americas, Africa, and the Philippines, and is listed among the S&P 500.
SBA Communications Corporation (NASDAQ: SBAC) announced that Jeff Stoops will retire as President and CEO on December 31, 2023. Brendan Cavanagh, currently CFO, will succeed him and join the Board. Stoops has been with SBA since March 1997 and significantly contributed to its growth, achieving a 555% revenue increase and raising enterprise value from $6 billion to $43 billion during his tenure. Cavanagh expressed enthusiasm for SBA's future, focusing on expanding wireless capabilities. The Board supports this transition, emphasizing planned continuity and growth under Cavanagh's leadership. Stoops will continue as non-executive Chairman.
SBA Communications Corporation (Nasdaq: SBAC) reported a strong fourth quarter for 2022, with net income of $102.6 million ($0.94 per share) and total revenue of $686.1 million, reflecting a 15.3% year-over-year growth. The company achieved significant portfolio growth, adding 2,792 sites, resulting in an AFFO per share increase of 11.0%. A quarterly cash dividend of $0.85 per share was declared, marking a 20% increase from the prior quarter. SBA's financial health remains robust, as it ended the year with a healthy balance sheet and favorable leverage ratios. The company anticipates solid domestic and international leasing demand, particularly driven by ongoing 5G deployments.
SBA Communications Corporation (NASDAQ: SBAC) is set to present at the 31st Annual Deutsche Bank Media, Internet and Telecom Conference on February 28, 2023, at 1:50 PM ET, held at The Breakers Hotel in Palm Beach, Florida. The presentation will be led by CEO Jeffrey A. Stoops, and the audio can be accessed online at www.sbasite.com. SBA is a major player in the wireless communications sector, managing over 35,000 communications sites across North America, Africa, and the Philippines. As a top Real Estate Investment Trust (REIT), it ranks among the S&P 500 by market cap.
SBA Communications Corporation (NASDAQ: SBAC) announced it will release its fourth quarter results on February 21, 2023, after market close. A conference call to discuss these results will also take place that day at 5:00 PM (EST). Investors can access the call by dialing 877-692-8955 with access code 5549447. A replay will be available from February 21, 2023, at 11:00 PM until March 7, 2023, at 12:00 AM. SBA operates a robust portfolio of over 35,000 communications sites across the Americas, Africa, and the Philippines.
SBA Communications Corporation (Nasdaq: SBAC) announced year-end tax reporting details for 2022 distributions, urging stockholders to consult tax advisors. Key information includes cash distributions of
SBA Communications Corporation (NASDAQ: SBAC) announced that Brendan Cavanagh, CFO, will speak at the Citi 2023 Communications, Media & Entertainment Conference on January 4, 2023, at 11:15am MST. The event takes place at the Four Seasons Scottsdale at Troon North Hotel in Scottsdale, Arizona. Interested listeners can access the audio presentation through www.sbasite.com. The company operates over 35,000 communications sites across the Americas, Africa, and the Philippines.
SBA Communications Corporation (SBAC) reported a strong third quarter for 2022, achieving a net income of $99.8 million ($0.91 per share) and a 14.6% rise in total revenue to $675.6 million. The company declared a quarterly cash dividend of $0.71 per share, payable on December 15, 2022. Adjusted EBITDA increased to $446.8 million, up 9.8% year-over-year, while AFFO per share surged 15.1% to $3.10. SBA's successful acquisition of 2,632 sites in Brazil, contributing to a projected 15% growth in owned tower sites, is a key growth driver. The company maintains a healthy debt ratio of 6.8x.
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