
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 $22.2 billion by market cap, the company offers site leasing and development, construction, and consulting services. SBAC leases antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts.
Shares of this leading independent owner and operator of wireless communications infrastructure have underperformed the broader market over the past year. SBAC has gained marginally over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 22.8%. In 2025, SBAC stock is up 2%, compared to the SPX’s 4.5% rise on a YTD basis.