SBA Communications (SBAC) Up 13.3% in 3 Months: Will This Last?

Shares of SBA Communications (SBAC) have risen 13.3% over the past three months compared with the industry's upside of 12.4%. Last month, SBAC reported second-quarter 2024 adjusted funds from operations (AFFO) per share of $3.29, which beat the Zacks Consensus Estimate by a whisker. Results reflected a decent improvement in site leasing revenues. However, lower revenues posted by site development hurt the results to some extent. Analysts also seem bullish on this Zacks Rank #3 (Hold) company, with the Zacks ...