SBA Communications Corporation

SBA Communications Corporation

SBA Communications Corporation was founded in 1989 by Jeffrey A. Stoops, who remains its President and CEO. The company is structured as a real estate investment trust (REIT), focusing on the ownership, operation, and leasing of wireless communication towers. Its wealth originates from the telecommunications infrastructure sector, specifically the rapidly expanding demand for cellular and data coverage. SBA's strategy centers on acquiring and developing tower assets, then leasing space to wireless carriers such as AT&T, Verizon, T-Mobile, and others. The company holds a portfolio of over 34,000 tower sites across North America, with a significant presence in the United States, Canada, and a growing footprint in Latin America. It targets long-term, non-cancellable leases, providing stable, annuity-like cash flows. SBA also engages in site development services, assisting carriers in deploying new equipment. The firm operates out of headquarters in Boca Raton, Florida, with additional offices in Boston and Singapore. As a publicly traded REIT listed on the NASDAQ (SBAC), SBA has a market capitalization exceeding $20 billion (per public filings, 2026). The company employs approximately 1,200 professionals (per public filings, 2025). In 2024, SBA completed the acquisition of a portfolio of approximately 2,000 towers from a regional carrier, expanding its footprint in the Midwest (per the firm's annual report, 2024). SBA's structure as a publicly traded REIT is its key differentiator. Unlike private family offices or asset managers, it is subject to public market disclosure and governance, with a board of directors and regular financial reporting. This structure provides transparency to investors via quarterly earnings and annual filings, but also ties its capital deployment to public market valuations and the REIT tax framework.