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: 1,720
Fund manager confidence
Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
59% more first-time investments, than exits
New positions opened: 105 | Existing positions closed: 66
50% more funds holding in top 10
Funds holding in top 10: 6 [Q4 2024] → 9 (+3) [Q1 2025]
48% more call options, than puts
Call options by funds: $45.2M | Put options by funds: $30.5M
7% more capital invested
Capital invested by funds: $21.5B [Q4 2024] → $23B (+$1.49B) [Q1 2025]
4% more funds holding
Funds holding: 654 [Q4 2024] → 678 (+24) [Q1 2025]
5% more repeat investments, than reductions
Existing positions increased: 256 | Existing positions reduced: 243
1.04% less ownership
Funds ownership: 98.37% [Q4 2024] → 97.33% (-1.04%) [Q1 2025]
Research analyst outlook
6 Wall Street Analysts provided 1 year price targets over the past 3 months
6 analyst ratings
UBS Batya Levi | 25%upside $285 | Buy Maintained | 8 Jul 2025 |
JMP Securities Greg Miller | 18%upside $270 | Market Outperform Maintained | 29 Apr 2025 |
Citigroup Michael Rollins | 16%upside $265 | Buy Maintained | 29 Apr 2025 |
BMO Capital Ari Klein | 5%upside $240 | Market Perform Maintained | 29 Apr 2025 |
Raymond James Ric Prentiss | 17%upside $268 | Strong Buy Reiterated | 29 Apr 2025 |
Financial journalist opinion
Based on 3 articles about SBAC published over the past 30 days
