SBA Communications Shares Slide 0.58% with $280M Volume Diving 25.47% Amid AT&T Spectrum Deal-Driven Infrastructure Upside

On August 29, 2025, SBA Communications (SBAC) closed at $204.85, down 0.58%, with a trading volume of $0.28 billion, a 25.47% decline from the prior day. The stock’s 52-week range spans $192.55 to $252.64, and it has a market capitalization of $23.5 billion.

Recent developments centered on AT&T’s acquisition of spectrum licenses from EchoStar, which initially triggered investor concerns. However, analysts noted that AT&T’s $23 billion purchase primarily aimed to expand its 5G capabilities, particularly for fixed wireless home internet services. This strategy is expected to increase demand for cell tower infrastructure, indirectly benefiting SBA as carriers like AT&T deploy new spectrum. Management emphasized that the transaction aligns with multi-year capital plans and should drive incremental revenue and EBITDA growth within 24 months.

Institutional investors have adjusted their holdings, with JPMorgan Chase & Co. and Dodge & Cox increasing stakes in SBAC during Q1 2025. The company also announced a quarterly dividend of $1.11 per share, payable on September 18, reflecting a 56.42% payout ratio. Analysts remain cautiously optimistic, with an average target price of $256.38 and a “Moderate Buy” consensus rating.

For the second quarter, SBA reported revenue of $698.98 million, exceeding estimates by 4.1%, with EPS of $3.17, beating expectations by $0.07. The firm reaffirmed its FY 2025 guidance, with sell-side analysts projecting 12.57 EPS. Despite short-term volatility, the stock’s fundamentals remain supported by growing carrier demand for tower infrastructure.