Boca Raton, Florida-based SBA Communications Corporation (SBAC) is a leading independent owner and operator of wireless communications infrastructure. The company has a market cap of $21.7 billion and has a portfolio of more than 46,000 communications sites throughout the Americas and in Africa.
SBAC stock has lagged behind the broader market over the past year, declining 18.6% compared to the S&P 500 Index’s ($SPX) 20.6% surge. Moreover, in 2026, the stock has fallen nearly 5.9%, underperforming the SPX’s 12.6% rise as well.
Focusing on its industry benchmark, the State Street Real Estate Select Sector SPDR ETF (XLRE) has grown 7.3% over the past year, outpacing the stock. In 2026, XLRE has grown 11.3% and has also rallied the stock.
On Aug. 3, SBAC stock declined marginally following the release of its Q2 2026 earnings. The company’s revenue for the quarter amounted to $715.3 million and beat the Street’s estimates. Moreover, its adjusted FFO for the period came in at $3.03, also topping Wall Street’s forecasts. SBA Communications expects full-year funds from operations in the range of $11.91 to $12.36 per share. The company’s shares rose 4.7% in the next trading session.
For the current year, which ends in December, analysts expect SBAC’s FFO to fall 11.1% year-over-year to $11.41 on a diluted basis. The company has surpassed the consensus estimate in each of the last four quarters.
Among the 21 analysts covering SBAC stock, the consensus is a “Moderate Buy.” That’s based on 11 “Strong Buy” ratings, one “Moderate Buy,” and nine “Holds.”
The configuration has grown slightly more bullish, with the stock now having 11 “Strong Buy” ratings, as compared to nine three months ago.
On Aug. 5, Barclays analyst Brendan Lynch maintained a “Buy” rating on SBA Communications and set a price target of $245.
SBAC’s mean price target of $228.25 offers an upside of 25.4% compared to the current market price. Its Street-high target of $280 implies a robust 53.7% upside from current levels.
On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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