SBA CommunicationsSBAC
About: SBA Communications owns and operates almost 40,000 cell towers throughout North America, South America, and Africa. It leases space on its towers to wireless service providers, which install equipment on the towers to support their wireless networks. The company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. It owns more than 17,000 towers in the US, which accounted for about 70% of the company's total revenue in 2023. Internationally, SBA's greatest presence is in Brazil, where it operates roughly 10,000 towers. SBA operates as a real estate investment trust.
Employees: 1,787
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
108% more call options, than puts
Call options by funds: $54.3M | Put options by funds: $26.1M
37% more first-time investments, than exits
New positions opened: 92 | Existing positions closed: 67
13% more capital invested
Capital invested by funds: $21.8B [Q2] → $24.6B (+$2.78B) [Q3]
4% more funds holding
Funds holding: 630 [Q2] → 655 (+25) [Q3]
3% more repeat investments, than reductions
Existing positions increased: 247 | Existing positions reduced: 240
0.48% less ownership
Funds ownership: 95.64% [Q2] → 95.15% (-0.48%) [Q3]
10% less funds holding in top 10
Funds holding in top 10: 10 [Q2] → 9 (-1) [Q3]
Research analyst outlook
9 Wall Street Analysts provided 1 year price targets over the past 3 months
9 analyst ratings
TD Cowen Michael Elias 56% 1-year accuracy 5 / 9 met price target | 18%upside $261 | Buy Maintained | 29 Oct 2024 |
BMO Capital Ari Klein 63% 1-year accuracy 5 / 8 met price target | 18%upside $260 | Outperform Maintained | 29 Oct 2024 |
Raymond James Ric Prentiss 47% 1-year accuracy 7 / 15 met price target | 36%upside $300 | Strong Buy Maintained | 29 Oct 2024 |
Keybanc Brandon Nispel 55% 1-year accuracy 12 / 22 met price target | 27%upside $280 | Overweight Maintained | 14 Oct 2024 |
Barclays Tim Long 63% 1-year accuracy 31 / 49 met price target | 16%upside $256 | Overweight Maintained | 10 Oct 2024 |
Financial journalist opinion
Based on 11 articles about SBAC published over the past 30 days
