SBA Communications Corporation reports developments for a wireless communications infrastructure REIT that owns tower sites and leases antenna space to mobile carriers across North America, South America and Africa. Recurring updates include quarterly results, REIT operating metrics, full-year outlooks, cash dividends on Class A common stock, leverage and debt disclosures, acquisitions of communication-site interests and land rights, and management presentations at technology, media, telecom and property conferences.
Company news also covers governance and capital-structure matters tied to SBA's tower portfolio and carrier-focused leasing model.
SBA Communications Corporation (NASDAQ: SBAC) announced that Jeff Stoops will retire as President and CEO on December 31, 2023. Brendan Cavanagh, currently CFO, will succeed him and join the Board. Stoops has been with SBA since March 1997 and significantly contributed to its growth, achieving a 555% revenue increase and raising enterprise value from $6 billion to $43 billion during his tenure. Cavanagh expressed enthusiasm for SBA's future, focusing on expanding wireless capabilities. The Board supports this transition, emphasizing planned continuity and growth under Cavanagh's leadership. Stoops will continue as non-executive Chairman.
SBA Communications Corporation (Nasdaq: SBAC) reported a strong fourth quarter for 2022, with net income of $102.6 million ($0.94 per share) and total revenue of $686.1 million, reflecting a 15.3% year-over-year growth. The company achieved significant portfolio growth, adding 2,792 sites, resulting in an AFFO per share increase of 11.0%. A quarterly cash dividend of $0.85 per share was declared, marking a 20% increase from the prior quarter. SBA's financial health remains robust, as it ended the year with a healthy balance sheet and favorable leverage ratios. The company anticipates solid domestic and international leasing demand, particularly driven by ongoing 5G deployments.
SBA Communications Corporation (NASDAQ: SBAC) is set to present at the 31st Annual Deutsche Bank Media, Internet and Telecom Conference on February 28, 2023, at 1:50 PM ET, held at The Breakers Hotel in Palm Beach, Florida. The presentation will be led by CEO Jeffrey A. Stoops, and the audio can be accessed online at www.sbasite.com. SBA is a major player in the wireless communications sector, managing over 35,000 communications sites across North America, Africa, and the Philippines. As a top Real Estate Investment Trust (REIT), it ranks among the S&P 500 by market cap.
SBA Communications Corporation (NASDAQ: SBAC) announced it will release its fourth quarter results on February 21, 2023, after market close. A conference call to discuss these results will also take place that day at 5:00 PM (EST). Investors can access the call by dialing 877-692-8955 with access code 5549447. A replay will be available from February 21, 2023, at 11:00 PM until March 7, 2023, at 12:00 AM. SBA operates a robust portfolio of over 35,000 communications sites across the Americas, Africa, and the Philippines.
SBA Communications Corporation (Nasdaq: SBAC) announced year-end tax reporting details for 2022 distributions, urging stockholders to consult tax advisors. Key information includes cash distributions of $0.71 per share, consistent across four payment dates: March 25, June 14, September 20, and December 15, 2022. All distributions are classified as ordinary taxable dividends, with no unrecaptured section 1250 gains reported. SBA Communications operates over 35,000 wireless infrastructure sites globally and is a prominent Real Estate Investment Trust (REIT) listed on NASDAQ and part of the S&P 500.
SBA Communications Corporation (NASDAQ: SBAC) announced that Brendan Cavanagh, CFO, will speak at the Citi 2023 Communications, Media & Entertainment Conference on January 4, 2023, at 11:15am MST. The event takes place at the Four Seasons Scottsdale at Troon North Hotel in Scottsdale, Arizona. Interested listeners can access the audio presentation through www.sbasite.com. The company operates over 35,000 communications sites across the Americas, Africa, and the Philippines.
SBA Communications Corporation (SBAC) reported a strong third quarter for 2022, achieving a net income of $99.8 million ($0.91 per share) and a 14.6% rise in total revenue to $675.6 million. The company declared a quarterly cash dividend of $0.71 per share, payable on December 15, 2022. Adjusted EBITDA increased to $446.8 million, up 9.8% year-over-year, while AFFO per share surged 15.1% to $3.10. SBA's successful acquisition of 2,632 sites in Brazil, contributing to a projected 15% growth in owned tower sites, is a key growth driver. The company maintains a healthy debt ratio of 6.8x.
SBA Communications Corporation (NASDAQ: SBAC) is set to release its third quarter results on October 31, 2022, after market close. A conference call will follow at 5:00 PM (EDT) on the same day to discuss the results. Interested parties can access the call by dialing 877-692-8955 and using access code 1502503. A replay will be available until November 14, 2022. SBA is a leading operator of wireless communications infrastructure, with over 35,000 sites in markets spanning the Americas, Africa, and the Philippines.
SBA Communications Corporation (NASDAQ: SBAC) announced that CFO Brendan Cavanagh will present at the Goldman Sachs 2022 Communacopia + Technology Conference on Tuesday, September 13, 2022, at 4:30 PM PDT in San Francisco, California. Interested investors can access the audio presentation on www.sbasite.com. SBA is a leading independent operator of wireless communications infrastructure, owning over 35,000 sites across the Americas, Africa, and the Philippines.
SBA Communications Corporation (Nasdaq: SBAC) reported a strong second quarter for 2022, with total revenues of $652.0 million, up 13.3% year-over-year. Net income reached $69.2 million or $0.64 per share, while AFFO per share increased 16.3% to $3.07. The company announced a quarterly cash dividend of $0.71 per share, payable on September 20, 2022. SBA is expanding its portfolio with an agreement to purchase 2,600 sites in Brazil for $725 million, expected to enhance future cash flow.