SBA Communications Corporation

SBAC

Equity

ISIN US78410G1040 / Valor 35380085

NASDAQ (2024-12-26)

USD 204.00+0.71%

SBA Communications Corporation
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About company

SBA Communications Corporation is a prominent player in the wireless communications infrastructure industry, owning and operating a variety of assets such as towers, buildings, rooftops, distributed antenna systems (DAS), and small cells. Established in 1989 and headquartered in Boca Raton, Florida, SBA has a strong presence across the Americas, Africa, and Asia, with operations and offices in multiple countries. As a listed company on NASDAQ under the symbol SBAC and part of the S&P 500, SBA is recognized as one of the top Real Estate Investment Trusts (REITs) based on market capitalization. The company also collaborates with property owners to maximize the wireless infrastructure potential of their real estate assets, showcasing its expertise in the industry.

Summarized from source with an LLMView SourceSector: Finance

Net Income

SBA Communications Corporation reported a net income of $109.5 million for the fourth quarter of 2023, translating to $1.01 per share. This marks an increase from the previous year's fourth quarter net income of $102.6 million, or $0.94 per share. The increase in net income was partly due to a $28.3 million gain from currency-related remeasurement of intercompany loans.

Revenue and Site Leasing

For the fourth quarter of 2023, SBA Communications Corporation's total revenues were $675.1 million, a slight decrease of 1.6% compared to the prior year period. Site leasing revenue, a significant component of the company's income, was $636.1 million, with domestic site leasing revenue at $466.6 million and international site leasing revenue at $169.5 million. The domestic cash site leasing revenue saw a 4.0% increase from the previous year.

Adjusted EBITDA

In the fourth quarter of 2023, SBA Communications Corporation achieved an Adjusted EBITDA of $480.7 million, reflecting a 4.3% increase over the same period in the previous year. The Adjusted EBITDA Margin also improved, reaching 71.6% compared to 68.1% in the prior year period. This growth indicates a strong operational performance despite the challenges faced during the year.

AFFO Growth

SBA Communications Corporation reported an AFFO (Adjusted Funds From Operations) of $365.7 million for the fourth quarter of 2023, marking a 7.3% increase from the previous year. The AFFO per share was $3.37, representing an 8.0% growth over the fourth quarter of 2022. This growth in AFFO highlights the company's ability to generate significant free cash flow.

Dividend Increase

The Board of Directors of SBA Communications Corporation declared a quarterly cash dividend of $0.98 per share for the fourth quarter of 2023, which is an increase of approximately 15% over the dividend paid in the same period of the previous year. This dividend is payable on March 28, 2024, to shareholders of record as of March 14, 2024, reflecting the company's confidence in its financial stability and future prospects.

Summarized from source with an LLMView Source

Key figures

-19.2%1Y

-45.5%3Y

-15.4%5Y

Performance

26.3%1Y

29.9%3Y

31.4%5Y

Volatility