Boca Raton, Florida-based SBA Communications Corporation (SBAC) is a real estate investment trust (REIT) that owns and operates wireless communications infrastructure, including towers, rooftops, distributed antenna systems and small-cell networks. Valued at a market cap of $21 billion, the company serves major wireless carriers and broadband providers.
This specialty REIT has considerably underperformed the broader market over the past 52 weeks. Shares of SBAC have declined 9.7% over this time frame, while the broader S&P 500 Index ($SPX) has gained 13.2%. Moreover, on a YTD basis, the stock is down 3.2%, compared to SPX’s 14.5% uptick.
