
SBA Communications Corporation (SBAC), headquartered in Boca Raton, Florida, owns and operates wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. Valued at $24.4 billion by market cap, the company offers site leasing and development, construction, and consulting services. SBAC leases antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts.
Shares of this leading independent owner and operator of wireless communications infrastructure have considerably underperformed the broader market over the past year. SBAC has declined 3.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 31.8%. In 2024, SBAC stock is down 9.9%, compared to the SPX’s 25.8% rise on a YTD basis.