With a market cap of $24.7 billion, Boca Raton, Florida-based SBA Communications Corporation (SBAC) is a leading independent owner and operator of wireless communications infrastructure, including towers, buildings, rooftops, distributed antenna systems (DAS), and small cells.

Companies worth $10 billion or more are generally described as "large-cap stocks." SBAC falls squarely into this category, with its market cap exceeding this threshold, reflecting its substantial size and influence in the specialty REIT industry. SBAC benefits from owning a portfolio of more than 39,000 communications sites throughout the Americas and in Africa, and being one of the biggest REITs as well.

Shares of SBAC touched their 52-week high of $252.64 on Oct. 16, 2024, and have fallen 9.6% from that peak. They have grown 3.5% over the past three months, outperforming the Real Estate Select Sector SPDR Fund’s (XLRE) 1% fall over the same time frame.

Shares of the company have surged 19.5% over the past 52 weeks, compared to XLRE’s 9% surge over the same time frame. Moreover, SBAC stock is up 12.1% on a YTD basis, outperforming XLRE’s 2.7% rise.

SBAC shares have been trading above their 200-day moving average since mid-April and below their 50-day moving average since early June.

On Apr. 28, SBAC announced its Q1 earnings, and its shares grew marginally following the announcement. The company reported steady performance with revenue rising 1% year-over-year to $664.2 million, slightly beating the Street’s estimates. Its AFFO per share was $3.18, down from $3.29 last year, but successfully beating the Street’s expectations by 7.1%.

Its peer, Weyerhaeuser Company (WY), has declined 8.1% in 2025 and 11.3% over the past year, underperforming the stock.

Among the 19 analysts covering the SBAC stock, the consensus rating is a “Moderate Buy.” Its mean price target of $252.06 suggests a 10.3% upside potential from current price levels.