SBAC - SBA Communications Corporation (REIT)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
304.42
-3.36 (-1.09%)
At close: 4:00PM EDT
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close307.78
Open308.92
Bid292.00 x 800
Ask313.00 x 900
Day's Range301.96 - 308.92
52 Week Range205.20 - 323.02
Volume521,490
Avg. Volume815,100
Market Cap33.981B
Beta (5Y Monthly)0.41
PE Ratio (TTM)N/A
EPS (TTM)-0.06
Earnings DateAug 03, 2020 - Aug 10, 2020
Forward Dividend & Yield1.86 (0.61%)
Ex-Dividend DateMay 27, 2020
1y Target Est332.87
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
-20% Est. Return
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  • Were Hedge Funds Right About SBA Communications Corporation (SBAC)?
    Insider Monkey

    Were Hedge Funds Right About SBA Communications Corporation (SBAC)?

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]

  • Moody's

    SBA Tower Trust -- Moody's assigns provisional ratings to SBA Communications wireless tower-backed securities

    Moody's Investors Service (Moody's) has assigned provisional ratings to the Series 2020-1 secured tower revenue securities, subclass 2020-1C and to the Series 2020-2 secured tower revenue securities, subclass 2020-2C (together the 2020 securities), to be issued by SBA Tower Trust, a New York Common Law Trust (the issuer). The subclasses 2020-1C and 2020-2C securities will correspond to a component of that mortgage loan. The cash flows from those tenant leases will be used to repay the mortgage loan and therefore the 2020 securities.

  • Top Real Estate Stocks for July 2020
    Investopedia

    Top Real Estate Stocks for July 2020

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  • Tech-Exposed Real Estate Is Pulling Away From Other Properties
    Bloomberg

    Tech-Exposed Real Estate Is Pulling Away From Other Properties

    (Bloomberg) -- The same trends behind soaring stock prices for Amazon.com Inc. and Zoom Video Communications Inc. are benefiting shares in the companies associated with their real estate.Communication towers and data center stocks -- sometimes referred to as “where the internet lives” -- have seen some of the biggest gains in the S&P 500 so far this year as stay-in-place measures to combat the coronavirus have accelerated the demand for digital services and connectivity.Whereas the pandemic has severely hit many commercial property owners, shares in real estate investment trusts related to technology are outperforming. The combined market value gained by just five of those stocks is almost the same as the amount lost by 30 REITs specializing in malls and shopping centers, according to data compiled by Bloomberg News.“If you’re a real estate investor and your mandate is to own real estate, you’re obviously not doing very well owning offices or owning retail,” Cowen analyst Colby Synesael said in a phone interview.With more people at home, the demands on technology and its infrastructure have been tremendous, whether it’s allowing for online shopping, mobile streaming or working remotely. As a result, certain REITs have emerged as defensive plays for investors, Synesael said.American Tower Corp., Digital Reality Trust Inc., Equinix Inc., Crown Castle International Inc. and SBA Communications Corp. have added roughly $50 billion in total market capitalization this year, and valuations for towers and data centers have never been higher.Data centers, for instance, are trading at a roughly 15% premium to the overall REIT average on a price to estimated adjusted funds from operations basis, according to Berenberg analyst Nate Crossett. Historically they’ve traded at a 7% discount.As a global data center company, Equinix has boasted of its work building out coverage and scale for clients that have gone on to become household names in the work-from-home era including Zoom and Cisco Systems Inc.’s Webex.“Two significant customers of ours is Zoom and Webex -- both of whom obviously saw exceptional increases in their demand as work from home took off,” Chief Executive Officer Charles Meyers said in an interview. “We played a very key role in helping them ramp up their capacity to meet that demand. That was true also in networking cloud providers.”Meyers said it’s difficult to anticipate how much more revenue the company could see over time. In terms of demand, he pointed to recent overall online traffic trends, which surged 25% to 30% over a 30- to 45-day period-- growth that normally would take nine months to a year to achieve.Digital Realty Chief Financial Officer Andy Power said in an interview that the company had seen a pickup in data center demand from clients filling near-term gaps but that longer-term, he was “pleasantly surprised” at how larger enterprises were also taking this moment to plan for the future.“We’re seeing the criticality of our infrastructure playing out front and center while many of our other asset classes [in real estate] are seeing sloping rent,” he said. Even for clients in struggling industries such as travel, the company has seen increased deployments. “Our services are fundamentally mission critical for their businesses. You cannot book an airline ticket or any hotel reservation without the infrastructure we’re essentially providing.”Bloomberg Intelligence analyst Lindsay Dutch said the need for increased connectivity during the pandemic has demonstrated the importance of digital infrastructure, which is a long-term driver for the stocks.“If you think of everyone on their computers, trying to connect to their workplace and do all these Zoom calls and stream Netflix -- that creates more traffic and the need for power,” she said.Before the virus, shares in tech-related REITs had already been rising, catching the attention of investors, Cowen’s Synesael said.For communication towers, he noted a sea change in 2018 when Vanguard Group began adding towers to its investment portfolio, prompting more investors to do the same ahead of the U.S. rollout of 5G spectrum.Unlike data centers, tower stocks aren’t seeing a fundamental change in earnings from the pandemic, Synesael said. However, they are still benefiting from trends Covid-19 has accelerated like mobile data use, which Synesael expects to continue.Despite their relative premium, Berenberg’s Crossett said that on an absolute basis “there’s still plenty of room to run” for data center stocks.“To the extent that there’s a pullback, I would be adding to these names,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • The Coming 5G Boom Is Not Fully Priced in These 3 Stocks
    TipRanks

    The Coming 5G Boom Is Not Fully Priced in These 3 Stocks

    The late, great, Neil Peart wrote, in Tom Sawyer, “He knows changes aren’t permanent, but change is.” His words are an apt description of our modern world, an ever-changing landscape of pending tech. Right now, the shiny new change is 5G.Even the coronavirus couldn’t fully derail the coming build-out of the new 5G networks. It only delayed it. China and Korea are leading the world right now in bringing 5G networks online, with the US expanding its own new systems and Europe lagging behind. In the US, most urban areas have at least partial 5G connectivity online, and the major service providers are working to connect those centers.For investors, the key here will be finding companies that are primed to gain as 5G expands. It’s tempting to invest directly in the service providers; AT&T, Verizon, and T-Mobile/Sprint, the three largest wireless providers, are all heavily invested in 5G networks. But they face certain headwinds that make them less than ideal as 5G investments – for the present. They are absorbing the costs of the new networks, but without bringing in the new service fees to cover those costs. From a consumer perspective, the new service is more expensive, but hasn’t surpassed existing 4G in convenience – yet.This leaves investors seeking the right place to put their money, to benefit from 5G rollouts. Two segments come to mind, both deeply involved in different ways. The first is semiconductor chips; the second, surprisingly, are real estate investment trusts. These companies, inhabiting such different niches, find themselves well-positioned to profit – for different reasons – as 5G networks expand. Those different reasons are interesting to explore, as we open the TipRanks database to see what makes semiconductors and REITs compelling investments for 5G. Let's take a closer look. Broadcom, Inc. (AVGO)First up is a long-running major market player, a large-cap stock and a perennial champion for dividend investors. Broadcom is also one of the world’s largest semiconductor chip makers, ranked the sixth biggest by annual revenue in 2019, and reporting $5.25 billion in earnings in the first quarter of 2020.Broadcom has been making waves in 5G throughout 1H20. In February, the company announced completion of a 5G switching portfolio, designed for high-capacity switches and offering the feature set needed to meet new 5G tech standards. In March, Broadcom was noted by Forbes as one of the leaders in 5G wireless infrastructure; the company is deeply invested in providing chips that power the new devices. And earlier this month, handset maker Nokia, which has been having trouble in recent months sourcing 5G chips in sufficient quantity to meet demand, signed Broadcom on a supplier of 5G chips for Nokia’s ReefShark line.With all of this good news for the company, it’s no wonder that AVGO shares have climbed 85% since hitting bottom on March 18, dramatically outperforming the broader markets. Q2 saw revenue grow to $5.74 billion, up 9% sequentially. And, despite the ongoing pandemic, the company has maintained its generous dividend, declaring $3.25 per share on June 4. The current dividend annualizes to $13 and gives an impressive yield of 4.3%.Writing on AVGO for Deutsche Bank is 5-star analyst Ross Seymore, rated 26 overall in the TipRanks analyst database. Seymore notes the Nokia arrangement, and points out that it plays to Broadcom’s strengths in addressing the 5G needs of OEM customers: “We view [the Nokia] announcement as evidence that the co's investments and engagement with infrastructure OEMs on solutions within the base station which AVGO referenced in December, are bearing fruit. Broadcom's strength in custom ASICs and in routing and switching have enabled the co to leverage its Ethernet technology in bringing the network to the Edge (base stations).”To this end, Seymore rates AVGO a Buy alongside a $360 price target, indicating a potential 16% upside for the stock this year. (To watch Seymore’s track record, click here)All in all, Broadcom has a Strong Buy from the analyst consensus, with 24 reviews breaking down to 21 Buys and only 3 Holds. Shares are priced at $311.30, and the average price target of $350.18 suggests an upside potential of 13%. (See AVGO stock analysis on TipRanks)SBA Communications (SBAC)The next stock on our list operates as a REIT, focused on cellular infrastructure sites. Specifically, SBA Communications owns small cells, distributed antenna systems, and traditional cell sites throughout the Americas and South Africa. SBA both leases and develops the properties in its portfolio – a business that perfectly positions the company to profit as telecom carriers and providers increase and densify their networks to accommodate 5G technology. This process naturally requires new cell towers, antenna placements, and small cells – and that is SBA’s core business.Standing as it does at the center of the 5G expansion, SBA is already showing gains. The company’s stock is up 4.6% since February, having fully recovered from the market collapse in February/March and survived several weeks of price volatility that followed. It’s not just share price that has gained despite coronavirus-inspired recessionary pressures. SBA has reported modest sequential gains in quarterly earnings since the beginning of 2019, a trend that continued in Q1 2020. Credit Suisse analyst Sami Badri is confident in this company’s business model and solid balance sheet. He writes, “We believe the evidence points to an initial majority mid-band spectrum buildout. Mid-band spectrum will mainly be utilized on macro towers, given its solid propagation characteristics, therefore the initial 5G wave should favor macro tower focused SBAC… With SBAC capable of raising debt at such modest rates (3.875% May 19th) while maintaining its broader tower asset ROIC of 10%, we are comfortable and constructive with its current leverage profile.”Badri rates SBAC an Outperform (i.e. Buy), and his $361 price target indicates his belief in a 23% upside potential for the stock. (To watch Badri’s track record, click here)Overall, the analyst consensus rating on SBAC, a Strong Buy is based on a 9-to-1 split between Buy and Hold reviews. The average price target, $328, implies an upside of 12% from the current trading price of $293.78. (See SBAC stock analysis on TipRanks)American Tower (AMT)Last up is American Tower, the Boston-based REIT with a global portfolio containing more than 180,000 cellular broadcast tower and wireless communication sites. The core of the portfolio is in the US, but the company has been expanding internationally, both to supplement the core holdings and to take advantage of the global nature of wireless com systems. AMT currently holds more than 40,000 US cellular sites, along with 75,000 Asia and 37,000 in Latin America.As wireless providers expand their networks to introduce 5G connections, AMT is a logical beneficiary. Due to the shorter range of 5G systems, a denser tower network will be required; AMT, which owns and leases such sites, is ramping up acquisitions to take advantage. AMT derives most of its customer base – on the order of 88% – AT&T, Verizon, and Sprint/T-Mobile. These companies are not going anywhere, and lend a sense of permanence to AMT’s holdings.In addition, due to the long-term nature of cellular leases, AMT features a high proportion of recurring revenue in its portfolio – a feature that has insulated the company from the impact of COVID-19. AMT reported sequential gains in earnings for Q1, the coronavirus quarter, and share prices have shown a net gain during the last few months of market volatility.Analyst Sami Badri covers AMT shares as well, and he writes of the stock: “We expect Massive MIMO antennas to place more weight on towers, while taking up the same amount of physical vertical space or more on the structure. This will result in more revenue from tower leasing activity for AMT, which we expect to appear primarily as amendment revenues.”Badri is bullish on AMT, giving the stock a Buy rating with a $300 price target. His target implies an upside of 13% in the coming 12 months. Once again, we’re looking at a stock with a Strong Buy analyst consensus rating. AMT’s rating is based on 14 reviews, including 12 Buys and just 2 Holds. Shares are selling for $265.60, and the $269.42 suggests a modest upside this year. (See AMT stock-price forecast on TipRanks)To find good ideas for 5G stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

  • Investopedia

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  • Hedge Funds Are Nibbling On SBA Communications Corporation (SBAC)
    Insider Monkey

    Hedge Funds Are Nibbling On SBA Communications Corporation (SBAC)

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  • Moody's

    SBA Communications Corporation -- Moody's announces completion of a periodic review of ratings of SBA Communications Corporation

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of SBA Communications Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • SBA Communications (SBAC) Expects Higher Revenues Despite Covid-19 Disruption
    Insider Monkey

    SBA Communications (SBAC) Expects Higher Revenues Despite Covid-19 Disruption

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  • Barrons.com

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  • Business Wire

    SBA Communications Corporation to Speak at the Nareit REITweek Virtual Investor Conference

    SBA Communications Corporation (NASDAQ: SBAC) ("SBA") announces that Jeffrey A. Stoops, President and Chief Executive Officer, is scheduled to speak at the Nareit REITweek Virtual Investor Conference on Tuesday, June 2, 2020 at 10:45AM ET. This will be a virtual conference. The forthcoming webcast link will be available approximately one week prior to the event. The audio presentation for SBA can be accessed by visiting www.sbasite.com.

  • Business Wire

    SBA Announces Pricing of $500 million of 3.875% Senior Notes Due 2027

    SBA Communications Corporation (NASDAQ: SBAC) ("SBA") announced today that it has priced an add-on offering of $500 million aggregate principal amount of 3.875% senior notes due 2027 (the "Notes"), which was upsized from the previously announced $400 million. SBA expects the closing of the Notes to occur on May 26, 2020. The Notes will be issued at a price of 99.50% of their face value plus accrued interest from February 4, 2020.

  • Business Wire

    SBA Announces Add-On Offering of $400 Million of 3.875% Senior Notes Due 2027

    SBA Communications Corporation (NASDAQ: SBAC) ("SBA") announced today that it has commenced a private add-on offering of $400 million aggregate principal amount of 3.875% senior notes due 2027 (the "Notes").

  • SBA Communications (SBAC) Q1 AFFO & Revenues Top Estimates
    Zacks

    SBA Communications (SBAC) Q1 AFFO & Revenues Top Estimates

    Robust performance in the site-leasing business drives SBA Communications' (SBAC) Q1 earnings. It also witnesses adjusted EBITDA margin growth.

  • Insider Monkey

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  • SBA Communications Corp (SBAC) Q1 2020 Earnings Call Transcript
    Motley Fool

    SBA Communications Corp (SBAC) Q1 2020 Earnings Call Transcript

    SBAC earnings call for the period ending March 31, 2020.

  • SBA Communications (SBAC) Tops Q1 FFO and Revenue Estimates
    Zacks

    SBA Communications (SBAC) Tops Q1 FFO and Revenue Estimates

    SBA Communications (SBAC) delivered FFO and revenue surprises of 0.88% and 1.07%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

  • Business Wire

    SBA Communications Corporation Reports First Quarter 2020 Results; Updates Full Year 2020 Outlook; and Declares Quarterly Cash Dividend

    SBA Communications Corporation (Nasdaq: SBAC) ("SBA" or the "Company") today reported results for the quarter ended March 31, 2020.

  • ACCESSWIRE

    SBA Communications Corp. to Host Earnings Cal

    NEW YORK, NY / ACCESSWIRE / May 5, 2020 / SBA Communications Corp. (NASDAQ:SBAC) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on May 5, 2020 at 5:00 PM ...

  • Why Earnings Season Could Be Great for SBA Communications (SBAC)
    Zacks

    Why Earnings Season Could Be Great for SBA Communications (SBAC)

    SBA Communications (SBAC) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

  • Business Wire

    SBA Communications Corporation Announces Moving to a Virtual Meeting for 2020 Annual Meeting of Shareholders

    SBA Communications Corporation (Nasdaq: SBAC) ("SBA" or the "Company") provided notice today of an update to the location for the Company’s 2020 Annual Meeting of Shareholders (the "Annual Meeting").

  • Business Wire

    SBA Communications Corporation to Speak at the J.P. Morgan Global Technology, Media and Communications Conference

    SBA Communications Corporation (NASDAQ: SBAC) ("SBA") announces that Jeffrey A. Stoops, President and Chief Executive Officer, is scheduled to speak at the J.P. Morgan Global Technology, Media and Communications Conference on Tuesday, May 12, 2020 at 9:20 AM ET. This will be a virtual conference. The audio presentation for SBA can be accessed by visiting www.sbasite.com.

  • Business Wire

    SBA Communications Corporation to Speak at the MoffettNathanson 7th Annual Media & Communications Summit

    SBA Communications Corporation (NASDAQ: SBAC) ("SBA") announces that Brendan Cavanagh, Chief Financial Officer, is scheduled to speak at the MoffettNathanson 7th Annual Media & Communications Summit on Monday, May 11, 2020 at 1:00PM ET. This will be a virtual conference. The audio presentation for SBA can be accessed by visiting www.sbasite.com.

  • Introducing SBA Communications (NASDAQ:SBAC), The Stock That Zoomed 164% In The Last Five Years
    Simply Wall St.

    Introducing SBA Communications (NASDAQ:SBAC), The Stock That Zoomed 164% In The Last Five Years

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