SBA Communications (SBAC)
Leases multi-tenant tower space and builds sites for wireless carriers.
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Leases antenna space on owned and managed towers and rooftops under long-term contracts, with site development services for U.S. wireless carriers. Site leasing generates nearly all segment operating profit across the United States, South and Central America, and Africa, while revenue is concentrated among major carriers.
Leases antenna space on multi-tenant towers and rooftops under long-term contracts, while managing selected third-party sites. Domestic Site Leasing covers the United States and its territories; International Site Leasing spans South and Central America and Africa. Site Development handles acquisition, zoning, construction, and equipment installation for U.S. carriers.
Owns 46,328 towers, with more abroad than domestically after expanding in Central America and exiting Canada, Colombia, and the Philippines. Uses available capacity and regional carrier relationships to add tenants where location and market density support demand.
Site leasing supplies nearly all segment operating profit. Revenue is concentrated among T-Mobile, AT&T Wireless, and Verizon Wireless, while demand follows carrier network investment. Tower construction and operation remain subject to FCC, FAA, zoning, permitting, environmental, lighting, and marking rules.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $215 | Target: $205 |
| Aug 20, 2026 | Barclays | Reiterate | Rating: —Target: $245 | Target: $208 |
| Aug 5, 2026 | Truist Financial | Target | Target: $350 | Target: $238 |
| Aug 4, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $225 | Target: $215 |
| Aug 4, 2026 | Wolfe Research | Upgrade | Rating: — |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $327.1M · Total debt $15.21B · Total assets $11.74B · Shareholders' equity −$4.63B
- Revenue
- $715.3M
- Operating income
- $433.2M
- Net income
- $198.8M
HistoryDividendAnnual yield
| Institutions | ≈ 100.48% | 106.57M shares | |
|---|---|---|---|
| 700 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.34% | 357.2K shares | |
| 16 holders · as of Aug 19, 2026 | |||
| Adds to | 100.82% | ||
106.06M company shares as of Sep 17, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 100.82%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Dodge & CoxInstitution | 11.62% | 12.32M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 9.56% | 10.14M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 9.26% | 9.82M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.54% | 6.94M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.83% | 5.12M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | George R. Jr Krouse | director | −300 | $182.67 |
- American Tower
Global tower REIT with U.S., Latin America, and Africa overlap
- Crown Castle
U.S. tower REIT concentrated in domestic carrier colocation
- IHS
Emerging-markets tower peer across Africa and recent LatAm exposure
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| SBA Communications | $174.65 | −0.92% | $18.70B | 19.0 | 21.9 | 6.5 | +2.3% |
| American Tower | $174.02 | −0.33% | $81.36B | 24.0 | 25.7 | 7.4 | +4.7% |
| Crown Castle | $72.81 | −0.56% | $32.00B | 29.8 | 27.3 | 7.7 | −4.9% |
| IHS | $8.45 | +0.36% | $2.83B | 21.1 | 8.0 | 1.8 | +8.7% |
| Median | 24.0 | 25.7 | 7.4 | +4.7% |