SBAC Stock Recent News

The market hates cell tower REITs. Despite the market rally, prices remain near 52-week lows. SBA delivered yet another outstanding quarter and signed a new master lease agreement to keep the strength rolling. The increased guidance is even better than it looks at first glance.

SBA Communications Corp ( SBAC , Financial) is a leading player in the Real Estate Investment Trusts (REITs) industry. As of August 1, 2023, the company's stock price stands at $229.24, with a market capitalization of $24.84 billion.

SBA Communications (SBAC) reports better-than-anticipated Q2 results on healthy leasing activity amid elevated tower space demand. It has also raised its outlook for 2023.

SBA Communications Corporation (NASDAQ:SBAC ) Q2 2023 Earnings Conference Call July 31, 2023 5:00 PM ET Company Participants Mark DeRussy - Vice President of Finance Brendan Cavanagh - Chief Financial Officer Jeff Stoops - President & Chief Executive Officer Conference Call Participants Ric Prentiss - Raymond James Michael Rollins - Citi Simon Flannery - Morgan Stanley Phil Cusick - JP Morgan Jonathan Atkin - RBC David Barden - Bank of America Walter Piecyk - LightShed Batya Levi - UBS Nick Del Deo - MoffettNathanson Brett Feldman - Goldman Sachs Eric Luebchow - Wells Fargo Brendan Lynch - Barclays Greg Williams - TD Cowen Operator Ladies and gentlemen, thank you for standing by. Welcome to the SBA Second Quarter Earnings Results Conference Call.

Although the revenue and EPS for SBA Communications (SBAC) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

SBA Communications (SBAC) came out with quarterly funds from operations (FFO) of $3.24 per share, beating the Zacks Consensus Estimate of $3.14 per share. This compares to FFO of $3.07 per share a year ago.

Tower REITs have suffered more than the REIT indices. A lot of it was a reversal from extreme valuations at the late 2021 peak. SBA Communications is coming close to its historical multiples, but the buy point is likely a bit lower.

UDR's Q2 results reflect a year-over-year rise in revenues, driven by healthy operating trends and past accretive external growth investments. The company has also revised its 2023 outlook.

SBA Communications' (SBAC) Q2 earnings are likely to have benefited from the robust demand for its wireless communication assets by carriers. However, high interest expenses might have hurt it.

SBA Communications (SBAC) could produce exceptional returns because of its solid growth attributes.