logo
  Join        Login             Stock Quote

SBA Communications (SBAC) Acquires 800 Towers In Brazil For $177M

 December 26, 2012 10:14 AM
 


(By Balachander) SBA Communications Corp. (NASDAQ: SBAC) began operations in Brazil with the acquisition of 800 freestanding wireless towers for R$362.8 million ($177 million).

The company said it acquired these assets from one of the "leading" broadband wireless carriers in Brazil.

SBA expects these assets will produce roughly $19 to $23 million Brazilian Real in Tower Cash Flow for the full calendar year 2013 and immediately add to AFFO per share.

"This acquisition provides us with a national footprint of high quality towers... and establishes us as a substantial independent tower owner in an attractive and high growth market," commented SBA CEO Jeffrey Stoops.

[Related -How To Take Advantage Of Huge Real Estate Dividend Payoffs]

SBA generates revenue from two primary businesses - site leasing and site development services. Its primary focus is the leasing of antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts.

The company also owns and operates towers in Canada, Costa Rica, El Salvador, Guatemala, Nicaragua and Panama.

The stock, which has been trading in the 52-week range of $41.88 to $70.98, fell 1.03 percent to trade at $70.01 on Wednesday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageFour Stocks in the Dow Making Fresh 52 Week Lows

“What gets weak tends to get weaker; what gets strong tends to get read on...

article imageGreece And The Cemetery For Your Wealth

The Greek default is merely the opening act of the worst sovereign-debt crisis in history. By the time it read on...

article imageAll Signs Point To Higher Gold Prices

In the face of historic monetary stimulus from nearly every major central bank in the world over the past read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.