Group 1 - SBA Communications Corporation will release its fourth quarter results for 2025 on February 26, 2026, after market close [1] - A conference call to discuss the results will take place on the same day at 5:00 PM (EST) [1] - The company operates over 46,000 communications sites across the Americas and Africa, making it a significant player in the wireless communications infrastructure sector [1] Group 2 - SBA Communications Corporation is listed on NASDAQ under the symbol SBAC and is part of the S&P 500 [1] - The company is recognized as one of the top Real Estate Investment Trusts (REITs) by market capitalization [1] - The CFO, Marc Montagner, is scheduled to speak at the UBS Global Media and Communications Conference on December 9, 2025 [1]

Company Performance - American Tower (AMT) stock decreased by 1.42% to $177.51, which is a smaller decline compared to the S&P 500's loss of 0.01% [1] - Over the past month, AMT shares have increased by 1.9%, while the Finance sector has decreased by 0.23% and the S&P 500 has gained 0.78% [1] Upcoming Financial Results - American Tower is set to announce its earnings on February 24, 2026, with analysts expecting earnings of $2.54 per share, reflecting a year-over-year growth of 9.48% [2] - The revenue forecast for the upcoming quarter is $2.68 billion, indicating a growth of 5.05% compared to the same quarter last year [2] Full Year Estimates - For the full year, earnings are projected at $10.67 per share, showing a growth of 1.23%, while revenue is expected to remain flat at $10.57 billion [3] - Changes in analyst estimates are crucial as they often indicate shifts in short-term business dynamics, with positive revisions suggesting analyst optimism [3] Valuation Metrics - American Tower has a Forward P/E ratio of 16.27, which is higher than the industry average Forward P/E of 11.28 [6] - The company has a PEG ratio of 0.72, significantly lower than the average PEG ratio of 2.58 for the REIT and Equity Trust - Other industry [7] Industry Context - The REIT and Equity Trust - Other industry, part of the Finance sector, holds a Zacks Industry Rank of 161, placing it in the bottom 35% of over 250 industries [8] - Historically, industries in the top 50% of the Zacks Rank outperform those in the bottom half by a factor of 2 to 1 [8]

Company Performance - American Tower (AMT) closed at $181.55, reflecting a +2.29% increase from the previous day, outperforming the S&P 500's daily gain of 0.26% [1] - The stock has decreased by 0.57% over the past month, underperforming compared to the Finance sector's gain of 0.62% and the S&P 500's gain of 1.57% [1] Earnings Expectations - The upcoming earnings report is anticipated to show an EPS of $2.54, representing a 9.48% growth year-over-year [2] - Quarterly revenue is projected to be $2.67 billion, which is a 4.76% increase from the same quarter last year [2] Full Year Estimates - For the full year, analysts expect earnings of $10.67 per share and revenue of $10.57 billion, indicating changes of +1.23% and 0% respectively from the previous year [3] Analyst Estimates - Recent modifications to analyst estimates for American Tower reflect evolving short-term business trends, with positive revisions indicating analyst optimism [4] - The Zacks Consensus EPS estimate has shifted 0.14% downward over the past month, resulting in a Zacks Rank of 4 (Sell) for American Tower [6] Valuation Metrics - American Tower has a Forward P/E ratio of 15.9, which is higher than the industry average of 11.38, suggesting it is trading at a premium [7] - The PEG ratio for AMT is currently 0.69, compared to the industry average PEG ratio of 2.6 [7] Industry Context - The REIT and Equity Trust - Other industry, part of the Finance sector, holds a Zacks Industry Rank of 105, placing it in the top 43% of over 250 industries [8] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]

Core Insights - Diamond Hill Capital's "Select Fund" underperformed the Russell 3000 Index in Q3 2025, returning 4.98% compared to the index's 8% gain [1] - The fund highlighted SBA Communications Corporation (NASDAQ:SBAC) as a notable stock, which has seen a one-month return of -0.49% and a 52-week decline of 15.27% [2][3] Company Performance - SBA Communications Corporation (NASDAQ:SBAC) closed at $191.14 per share on October 30, 2025, with a market capitalization of $20.524 billion [2] - The company is experiencing slow 5G deployment following its initial build-out, contributing to its underperformance in Q3 [3] Hedge Fund Interest - SBA Communications Corporation (NASDAQ:SBAC) was held by 41 hedge fund portfolios at the end of Q2 2025, an increase from 40 in the previous quarter [3] - Despite its potential, the company is not considered among the 30 most popular stocks among hedge funds, with analysts suggesting that certain AI stocks may offer better upside potential [3]

Core Insights - SBA Communications (SBAC) is well-positioned to benefit from the high capital spending by wireless carriers for network expansion due to the growth in mobile data usage [1][8] - The company has long-term leases with tenants that ensure stable revenues, and its portfolio expansion efforts both domestically and internationally are promising [1][9] Financial Performance - Analysts have a positive outlook on SBAC, with the Zacks Consensus Estimate for funds from operations (FFO) per share for 2025 and 2026 being $12.74 and $13.09, respectively [2] - Over the past six months, SBAC shares have increased by 18.3%, outperforming the industry average of 6.5% [3] Market Demand - The demand for SBA Communications' infrastructure is driven by advancements in mobile technology, including 4G and 5G networks, and the increasing use of bandwidth-intensive applications [4] - The rise in smartphone adoption and broadband demand is leading wireless service providers to deploy additional equipment, enhancing network coverage and capacity [4] Business Model - SBA Communications operates a resilient site-leasing business model, generating most of its revenues from long-term tower leases with built-in rent escalators [5] - The company benefits from high operating margins and continues to attract wireless service providers seeking additional antenna space [5] Revenue Growth Expectations - Management anticipates core leasing revenues to increase in 2025 compared to 2024 levels on a currency-neutral basis, driven by wireless carriers deploying unused spectrum and revenues from newly acquired and built towers [6] Expansion Initiatives - In Q1 2025, SBA Communications acquired 344 communication sites and built 67 towers, with plans for further expansion into high-growth domestic and international markets [9][10] - The company is under contract to acquire additional sites, including Milicom's 6,700 sites for $925 million, which will enhance its portfolio and leverage trends in mobile data usage [10] Dividend Policy - SBA Communications announced a quarterly cash dividend of $1.11 per share in February 2025, marking a nearly 13% increase from the previous quarter [11] - The company has increased its dividend five times in the last five years, with a five-year annualized dividend growth rate of 19.97%, indicating a commitment to sustainable dividend distribution [11]