50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

SBA Communications EVP Donald Day sells $472k in stock

Published 24/12/2024, 01:34
SBA Communications EVP Donald Day sells $472k in stock
SBAC
-

Donald Day, Executive Vice President of Site Leasing at SBA Communications Corp (NASDAQ:SBAC), a prominent player in the Specialized REITs industry with a market capitalization of $21.8 billion, recently sold a portion of his holdings in the company. According to InvestingPro data, the company maintains a GOOD financial health score despite the stock’s 17.7% decline over the past year. According to a recent filing, Day sold 2,321 shares of Class A Common Stock on December 20, realizing a total of approximately $472,149. The shares were sold at a weighted average price of $203.43, with prices ranging from $203.15 to $203.50 per share.

Additionally, Day exercised stock options to acquire 2,321 shares of Class A Common Stock at a price of $156.50 per share, amounting to a total value of $363,236. Following these transactions, Day holds 4,998.04 shares of SBA (LON:SBA) Communications directly.

In other recent news, SBA Communications has reported strong Q3 financial results, raising its full-year 2024 outlook. This positive shift can be attributed to favorable foreign exchange rates and increased domestic carrier activity. In a significant development, the company acquired over 7,000 sites from Millicom International Cellular in Central America, expected to substantially boost site leasing revenue and cash flow. Concurrently, SBA Communications is divesting from less profitable markets, such as the Philippines, to focus on growth opportunities in Central America and domestically.

Analyst firms BMO Capital Markets and KeyBanc have recently adjusted their outlooks on SBA Communications. BMO downgraded the company’s stock from Outperform to Market Perform, citing anticipated challenges related to Sprint and weakness in Brazil’s currency. In contrast, KeyBanc included SBA Communications among its favored stock picks, noting the company’s strong fundamentals and consistent dividend growth.

SBA Communications exceeded service results and met leasing expectations in Q3, leading to a raised outlook for key financial metrics for 2024. Furthermore, the company increased its dividend to $0.98 per share for Q4, marking a 15% rise from the previous year. These recent developments underscore SBA Communications’ strategic moves to drive growth and shareholder value through acquisitions and operational efficiency.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.