InsiderStreet Equity Research

Produced by InsiderStreet.ai from live production data. It is not investment advice, not an offer or solicitation to buy or sell any security, and not a recommendation for any investor. Do not rely on it for any investment decision.

Last Close

$187.06

2026-10-16

Market Cap

$19.8B

Volume

0.9M

52-Wk High

$224.46

52-Wk Low

$156.60

Trailing PE

20.1

P/S

6.91

Gross Margin

63.9%

Net Margin

34.5%

ROE

-21%

ROIC

12%

Piotroski

7/9

Altman Z

0.2

1-Yr Return

-4.7%

5-Yr Return

-22.1%

SBA Communications Corporation stands as a premier owner, operator, and provider of crucial wireless communication infrastructure across North, Central, and South America, in addition to South Africa. Guided by its mission to 'Build Better Wireless,' the company primarily earns revenue from two core business areas: the leasing of antenna space and providing comprehensive site development services. Its central activity revolves around renting out capacity on its shared communication towers to various wireless service providers through long-term contractual agreements. For further details, please visit www.sbasite.com.

SectorReal EstateIndustryREIT - SpecialtyExchangeNASDAQMarket Cap$19.8BEmployees1,844 (SEC-filed)CEOBrendan Thomas CavanaghIPO1999-06-16CountryUS

8051 Congress Avenue, Boca Raton, FL 33487-1307 · Tel 561-995-7670 · sbasite.com

INSIDERSTREET SCORE54 / 100Street mean $224.00 (6 analysts, last qtr) — their number, not ours

INSIDER CONSENSUS SIGNALROUTINE SELLING — LOW SIGNAL$0M sold / 6 mo, zero open-market buys

INSIDERSTREET
SCORE54of 100

Score Breakdown

Profitability	69/100
Growth	63/100
Momentum	81/100
Quality	76/100
Earnings Quality	89/100
Balance Sheet	16/100
Value	50/100
Risk (safety)	15/100
Overall	54.4/100

Each component is a diagnostic reading on its own 0-100 scale. The overall score is computed separately from the underlying financials and is not the average of the rows above — components are not equally weighted and three of them (Momentum, Value, Risk) are derived partly from price rather than from the business.

Peer Comparison — IS Score

Symbol	IS Score
LAMR	67
WY	43
IRM	43
GLPI	55
CCI	49
DLR	36
SBAC	54

IS Score Trend — quarterly

14 quarters, 23 Q1 to 26 Q2. Peak 58 in 23 Q2, latest 54 — -4 since. Fell in 2 of the last 4 quarters. Dashed line marks 40 on the 0-100 scale.

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NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

1 Year vs S&P 500 · SBAC -4.7% · S&P 500 +15.9% · spread -20.6pp

7 Years vs S&P 500 · SBAC -22.1% · S&P 500 +189.9% · spread -212.0pp

Both charts indexed to 100 at the start of their window and drawn on a single shared scale, so the gap to the benchmark is the gap you see. Adjusted closes throughout.

BUSINESS QUALITY54 / 100IS Score 54.4 / 100 · -4.0 from peak of 58

Fundamental factor model, quarterly. Measures how the business is doing - not where the price is going.

PRICE STRUCTUREBULLISHTechnical Score 82 / 100 · Power +65 · 20 of 22 indicator votes bullish

Vote share across trend, momentum, volume, volatility and pattern families. Describes where the price is, not where it is going.

Both readings sit above the midpoint — business quality at 54 and price structure at 82 out of 100 — so they are not in conflict. The fundamentals and the tape are saying the same thing, which is the case in which either one alone would have been enough.

Trigger	Where it stands now	What it would mean
IS Score reaches 55 and holds two consecutive quarters	now 54.4	would move us up one band
IS Score stops falling - one quarter higher than the prior	last four: 56 → 54 → 56 → 54	the direction matters more than the level
Technical vote share back above 50%	now 82%	price structure no longer broken
Institutional holder count rises two quarters running	peak 710 → now 684	fewer institutions willing to hold is our clearest warning

We publish these so the view can be shown to be wrong. If none of them move and our reading does, we owe you an explanation.

This page is InsiderStreet's own reading, produced from the data in the rest of this document. It is not a price target and not investment advice. Analyst consensus and street price targets appear later under their own heading and are the street's numbers, not ours.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Site Convergence Score2 of 4top 13% of 29,420 symbols

Sources Aligned— of 3independent disclosures

Congress (180d)0 buysnone disclosed

Insider Buys (180d)0none disclosed

ETF Funds (30d)969 up / 779 downnet +190 funds

Institutions Added (13F)18managers opening or increasing

Congressional and insider figures are disclosed purchases in the trailing 180 days; ETF figures are COUNTS OF FUNDS whose holding changed in 30 days, not dollars. Coincidence of separate disclosures, not coordination. An absent source means nothing qualifying was disclosed in its window.

Institutions holding — 12 quarters

Peak 710 · latest 684 (-26 from peak).

Quarter	Holders	13F shares	Value	Reported own%	Guard
2026 Q2	684	106.6M	$18.1B	100.7%	ex-outlier 89.0%
2026 Q1	666	102.5M	$16.8B	96.7%
2025 Q4	683	103.2M	$19.0B	97.4%
2025 Q3	678	102.2M	$18.8B	96.5%
2025 Q2	710	106.7M	$23.4B	100.7%	ex-outlier 83.9%
2025 Q1	694	106.4M	$22.5B	100.4%
2024 Q4	664	105.9M	$20.6B	100.0%
2024 Q3	683	103.7M	$23.9B	97.8%
2024 Q2	643	101.1M	$19.4B	95.4%
2024 Q1	671	102.7M	$21.6B	96.9%
2023 Q4	705	105.4M	$26.2B	99.5%
2023 Q3	633	102.8M	$20.1B	97.0%

How to read ownership above 100%. A 13F reports the positions a manager has investment discretion over, and where two or more managers share discretion over the same block, each one reports it. Summed across filers, the total can therefore exceed the shares actually outstanding without anything being wrong. We publish the figure as filed rather than netting it down, and flag separately any quarter where the arithmetic is not merely high but impossible.

Why 2026-06 reads 100.66%. Institutions cannot hold more of a company than exists. The reported 106.6M shares exceed the 105.9M outstanding, and a single filer accounts for the excess: Dodge & Cox reports 12,323,254 shares against 12,080,284 the prior quarter, a 1x jump, which alone would be 11.6% of the company. Excluding that filing, ownership is 89.0%. We publish both figures. 13F filings are due 45 days after quarter end and amendments keep arriving after that, so the newest quarter is provisional by construction - this is what an unsettled quarter looks like.

Why 2025-06 reads 100.68%. Institutions cannot hold more of a company than exists. The reported 106.7M shares exceed the 105.9M outstanding, and a single filer accounts for the excess: VANGUARD GROUP INC reports 17,760,251 shares against 17,666,669 the prior quarter, a 1x jump, which alone would be 16.8% of the company. Excluding that filing, ownership is 83.9%. We publish both figures. 13F filings are due 45 days after quarter end and amendments keep arriving after that, so the newest quarter is provisional by construction - this is what an unsettled quarter looks like.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Insider	Role	Date	Type	Shares	Value	Post-Txn Owned
Krouse George R Jr	director	2026-08-17	SELL	300	$0.05M	8,512
Day Donald	EVP - SITE LEASING	2026-08-01	EXERCISE	457	—	10,163
Day Donald	EVP - SITE LEASING	2026-08-01	TAX W/H	171	$0.03M	9,992
Day Donald	EVP - SITE LEASING	2026-08-01	EXERCISE	457	—	457
Bernstein Steven E	director	2026-05-22	A-Award	1,108	—	1,108
Stoops Jeffrey	director, other: CHAIRMAN	2026-05-22	A-Award	1,108	—	1,108
Wilson Amy E	director	2026-05-22	A-Award	1,108	—	1,108
Bowen Laurie	director	2026-05-22	A-Award	1,108	—	1,108

6-mo decomposition (Form 4)	Txns	Shares	Value	Signal weight
S — Open-market sales	1	300	$0.1M	Counted
M — Exercises (paired A/D)	61	71,364	$1.4M	None — mechanics
F — Tax withholding	40	38,013	$7.6M	None — compensation
P — Open-market purchases	0	0	$0	Counted — none occurred

Monthly Net Insider Flow (000 shares)

Net of acquisitions minus dispositions, all Form 4 types.

Signal Summary

SignalRoutine Selling — Low Signal

Open-Market Sells$0.1M1 txns / 6 mo

Open-Market Buys$0.0M0 txns / 6 mo

ClusterNone active3+ insiders / 21 days

Filed	Filer	Shares registered	Est. proceeds
2026-08-17	George R. Krouse Jr	300	$0.1M
2025-05-01	Langer Jack	5,000	$1.2M
2025-02-28	Mary Chan	1,411	$0.3M
2024-08-21	George R. Krouse Jr.	325	$0.1M
Trailing 12 mo	1 filings	300	$0M

Filed	Form	Reporting person	% of class	Shares
2026-04-30	SCHEDULE 13G	Vanguard Capital Management	7.59%	8.0M sh
2026-04-29	SCHEDULE 13G	Vanguard Portfolio Management	9.18%	9.7M sh
2025-11-06	SCHEDULE 13G/A	Dodge & Cox	9.00%	9.7M sh
2025-11-06	SCHEDULE 13G/A	Dodge & Cox	10.70%	11.5M sh

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Member	Chamber	Trade	Size band	Traded	Disclosed
Ro Khanna	House	SELL	$1,001 - $15,000	2026-09-25	2026-10-09
Ro Khanna	House	SELL	$1,001 - $15,000	2026-01-29	2026-02-10
Ro Khanna	House	SELL	$1,001 - $15,000	2026-01-13	2026-02-10

House 12-Mo16 trades6 purchases

Senate 12-Mo0 tradesNone purchases

CoverageSTOCK Act filings30-45 day disclosure lag

13F Filers (last complete Q)666

13F Shares102M96.7% of shares out

New / Closed95 / 100positions, QoQ

Increased / Reduced218 / 264positions, QoQ

Put/Call (13F)0.78option positions

Free Float99.3%105M sh

2.8 · Largest Reporting 13F Managers

Manager	Shares	Value
State Of Alaska, Department Of Rev	44,250	$7M
Fjarde Ap-Fonden /Fourth Swedish N	42,713	$7M
Ifm Investors Pty Ltd	31,428	$5M
Czech National Bank	30,482	$5M
Wealth Enhancement Advisory Servic	26,037	$4M
Berman Mcaleer Llc	23,840	$4M

EDGAR 13F holdings as of 2026-09-30; filer values normalized to dollars.

2.9 · Top ETF & Fund Ownership

Fund	Weight	Position
VGSNX	1.0%	$643M
VGSLX	1.0%	$643M
VNQ	1.0%	$643M
VITSX	0.0%	$541M
VTSAX	0.0%	$541M
VTI	0.0%	$541M

13F Filers Holding SBAC — quarterly

Institutional Put/Call — quarterly

Daily short-sale volume as % of volume reported in FINRA's short-sale file — a flow measure, not short interest; dashed = 50-day average.

Latest Session54.4%2026-10-15

20-Day Avg53.2%50-day 56.1%

TrendFalling20d vs 50d

By Market CenterQ: 56% · N: 38% · B: 94%latest session

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Weekly Notional ($B)

Where SBAC Trades in the Dark

ATS Venue (4-wk)	Shares	Avg trade
Ubsa Ubs Ats	1.1M	39 sh
Sgmt Sigma X2	0.8M	29 sh
Ebxl Level Ats	0.5M	18 sh
Mlix Instinct X	0.4M	46 sh
Cgxs Onechronos	0.4M	53 sh
Mspl Ms Pool (Ats-4)	0.4M	128 sh

Where a dollar of SBA Communications Corporation revenue goes. All values FY2025 filings, live.

Region	Revenue	Share
Domestic Site Leasing Revenue	$1.9B	73%
International Site Leasing Revenue	$705M	27%

SBAC (live moat model)Peer median: LAMR · WY · IRM · GLPI · CCI

Component scores from the live moat model. Peer median illustrative.

Moat score 54/100 — Weak; primary source Switching Costs.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

3.8 · Employees (SEC filings)

Officer	Title
Brendan Thomas Cavanagh	Chief Executive Officer, President & Director
Marc R. Montagner	Executive Vice President & Chief Financial Officer
Joshua Koenig	Executive Vice President, Chief Administrative Officer & General Counsel
Richard Cane	Executive Vice President & President International

Revenue ($B)

EPS ($) — GAAP diluted actual, street-basis estimate

Actual bars are GAAP diluted EPS from the filed income statement; the lighter forward bars are street-basis consensus. The two are different measures and are not comparable quarter to quarter.

Quarterly EPS — Actual vs. Consensus

Beats (>2%)1 of 6recent quarters

Avg Surprise-13.2%

Next Report2026-11-02

Income Quality1.29OCF ÷ net income

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Beat Rate—%0 of 0 quarters

Current Streak0longest 0

Avg EPS Surprise—%median —%

Surprise Trend—last 4 vs prior 4

Period	EPS est.	EPS actual	EPS surprise	Rev est. ($M)	Rev actual ($M)	Rev surprise

Announcement dates to . Consensus as it stood at each report. Revenue surprise shown where both estimate and actual are filed. A beat record is history, not a forecast.

Profit Margins (%)

Revenue by Segment — Stacked

Live segmentation data.

YoY Growth Heatmap — Income Lines

YoY growth	FY21	FY22	FY23	FY24	FY25
Revenue	+10.8%	+14.1%	+3.0%	-1.2%	+5.1%
Gross profit	+9.2%	+11.7%	+7.2%	-0.3%	-43.5%
Operating income	+23.5%	+18.3%	-0.2%	+55.4%	-4.6%
Net income	+885.8%	+94.2%	+8.8%	+49.4%	+40.6%

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

$B · FY ends	FY21	FY22	FY23	FY24	FY25
Revenue	2.3	2.6	2.7	2.7	2.8
Cost of revenue	0.6	0.7	0.6	0.6	1.6
Gross profit	1.7	1.9	2.1	2.1	1.2
R&D expense	0.0	0.0	0.0	0.0	0.0
SG&A expense	0.2	0.3	0.3	0.3	0.3
Operating income	0.8	0.9	0.9	1.4	1.4
EBITDA	1.5	1.7	1.8	1.8	2.2
D&A	0.7	0.7	0.7	0.3	0.5
Pretax income	0.3	0.5	0.5	0.8	1.2
Income tax	0.0	0.1	0.1	0.0	0.2
Net income	0.2	0.5	0.5	0.7	1.1
Diluted EPS ($)	2.14	4.22	4.61	6.94	9.80
Diluted shares (M)	111	109	109	108	108

Operating CF$1B

CapEx$0B

Free cash flow$1B

SBC$0B

Buybacks$0B

Net cash change$-1B

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NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Balance Sheet — Full

$B	FY22	FY23	FY24	FY25
Cash & equivalents	0.1	0.2	0.2	0.4
ST investments	0.0	0.0	0.3	0.0
Receivables (net)	0.3	0.2	0.3	0.7
Total current assets	0.5	0.5	2.0	1.1
PP&E (net)	6.6	6.4	6.4	3.9
Goodwill + intangibles	2.8	2.5	2.4	2.9
Total assets	10.6	10.2	11.4	11.6
Accounts payable	0.1	0.0	0.1	0.1
Short-term debt	0.0	0.6	1.2	2.2
Deferred revenue	0.2	0.2	0.1	0.1
Total current liabilities	0.7	1.4	1.8	2.2
Long-term debt	12.8	11.7	12.4	11.0
Total liabilities	15.8	15.3	16.5	16.4
Shareholders' equity	-5.2	-5.1	-5.1	-4.8

Cash Flow Statement — Full

$B	FY22	FY23	FY24	FY25
Net income	0.5	0.5	0.7	1.0
D&A	0.7	0.7	0.3	0.3
Stock-based compensation	0.1	0.1	0.1	0.1
Working capital change	(0.1)	0.1	(0.1)	(0.2)
Operating cash flow	1.3	1.5	1.3	1.3
Capital expenditures	(0.2)	(0.2)	(0.2)	(0.2)
Investing cash flow	(1.4)	(0.5)	(0.8)	(0.6)
Buybacks	(0.4)	(0.1)	(0.2)	(0.5)
Dividends paid	(0.3)	(0.4)	(0.4)	(0.5)
Debt issuance / (repay)	0.5	(0.5)	1.2	(0.7)
Financing cash flow	(0.1)	(1.0)	0.6	(1.7)
Free cash flow	1.1	1.3	1.1	1.1

Balance Sheet Structure ($B)

Cash Generation vs Capex ($B)

Left: what the balance sheet is made of — the gap between the assets bar and the liabilities bar is book equity. Right: whether the capex bar is covered by the operating-cash bar; where it is not, the difference was funded externally and free cash flow goes negative.

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Ratio	FY21	FY22	FY23	FY24	FY25	TTM
PROFITABILITY
ROE	-4.7%	-8.7%	-9.6%	-14.6%	-21.1%	-21%
ROA	2.5%	4.5%	4.8%	6.9%	9.2%	8.4%
ROIC	8.3%	8.3%	9.2%	13.6%	11.4%	11.6%
Gross margin	75.2%	73.6%	76.6%	77.3%	41.6%	63.9%
Operating margin	33.9%	35.1%	34.1%	53.6%	48.7%	50.8%
Net margin	10.3%	17.5%	18.5%	28.0%	37.4%	34.5%
EBITDA margin	65.6%	63.6%	66.1%	67.0%	77.7%	70.2%
FCF margin	45.7%	40.7%	46.9%	41.3%	37.9%	—
VALUATION
P/E	170.29	62.93	52.80	28.80	19.58	20.1
P/B	-7.66	-5.50	-5.12	-4.22	-4.25	-4.3
P/S	17.53	11.03	9.77	8.06	7.33	6.91
P/FCF	38.31	27.11	20.85	19.50	19.34	18.9
EV/EBITDA	36.08	26.30	22.75	20.56	17.02	17.2
EV/Revenue	23.66	16.73	15.03	13.77	12.61	12.1
Earnings yield	0.6%	1.6%	1.9%	3.5%	5.1%	5.00%
FCF yield	2.6%	3.7%	4.8%	5.1%	5.2%	5.29%

Ratio	FY21	FY22	FY23	FY24	FY25	TTM
LEVERAGE & SOLVENCY
Current ratio	1.00	0.69	0.36	1.10	0.49	0.17
Quick ratio	1.00	0.69	0.36	1.10	0.49	0.17
Debt / equity	-2.75	-2.88	-2.80	-3.08	-3.16	-3.28
Debt / assets	148.2%	143.3%	142.1%	138.0%	132.3%	129.5%
Net debt / EBITDA	9.35	8.97	7.96	8.53	7.13	7.38
Interest coverage	—	—	—	—	7.01	—

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NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Ratio	FY21	FY22	FY23	FY24	FY25	TTM
EFFICIENCY
Asset turnover	0.24	0.26	0.26	0.25	0.24	0.24
Receivables turnover	26.23	18.40	14.77	16.32	6.95	16.3
DSO (days)	14	20	25	22	52	22
DPO (days)	46	22	27	31	24	25
Cash conversion cycle	-32	-3	-2	-8	29	-2
GROWTH (YoY)
Revenue growth	10.8%	14.1%	3.0%	-1.2%	5.1%	—
Net income growth	885.8%	94.2%	8.8%	49.4%	40.6%	—
EPS growth	901.9%	96.7%	9.5%	50.0%	42.5%	—
FCF growth	5.9%	1.4%	18.6%	-12.9%	-3.6%	—
PER SHARE ($)
EPS (diluted, TTM)	2.15	4.22	4.62	6.93	9.88	9.35
Book value / share	-47.72	-48.27	-47.62	-47.27	-45.51	-43.70
Revenue / share	20.85	24.09	24.97	24.79	26.40	27.10
FCF / share	9.54	9.80	11.70	10.24	10.00	9.92
Cash / share	3.32	1.33	1.93	4.11	4.12	3.09
SHAREHOLDER RETURN & SCORES
Buyback yield	1.4%	1.5%	0.4%	0.9%	2.4%	1.97%
Altman Z-Score	1.09	0.64	0.52	0.58	0.49	0.2
Piotroski F-Score	7	7	8	7	7	7/9
Beneish M-Score	-2.67	-2.21	-3.23	-2.38	-0.13	-2.65

Model	Score	Zone	Note
Piotroski F-Score	7 / 9	Strong
Altman Z-Score	0.2	Distress (<1.81)	Distress
Income quality	1.29	Cash-backed	OCF ÷ net income
Beneish M-Score	-2.65	Non-manipulator	vs −2.22 threshold

DuPont Decomposition (TTM)	Value
Tax burden	0.83
Interest burden	0.70
Operating margin	59.1%
Asset turnover	0.26×
Financial leverage	-2.35×
= ROE	-21%

Growth Quality (live)	Value
Revenue stability	0.82
Earnings stability	0.93
Earnings persistence	0.95
Revenue CAGR 3y	1.9%
EPS CAGR 3y	26.0%
FCF CAGR 3y	-3.9%

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Buyback Yield1.97%

Dividend Yield2.60%

Total Shareholder Return4.45%cash yield

SBC / Revenue2.9%dilution pressure

Company	Mkt cap	P/E	ROE	Net margin	Rev growth	Piotroski	1-yr ret
LAMR	$15.2B	27.3	59%	26.1%	+4.4%	9/9	+33.3%
WY	$14.1B	29.7	5%	8.7%	-1.9%	6/9	-16.3%
IRM	$33.5B	80.4	-41%	5.0%	+17.4%	6/9	+9.9%
GLPI	$11.4B	11.4	20%	53.1%	+5.8%	4/9	-10.3%
CCI	$35.9B	33.3	-46%	30.5%	-23.2%	6/9	—
DLR	$65.3B	81.1	3%	23.6%	+18.7%	5/9	—
RYN	$5.7B	38.7	2%	4.8%	-12.8%	4/9	—
OUT	$5.4B	21.4	36%	14.8%	+7.6%	7/9	—

1-yr returns computed from adjusted price history; peers without a tracked series show —.

Buy

42 Analysts

Str Sell (0)Sell (0)Hold (13)Buy (28)Str Buy (1)

Mean Target (qtr)$224.006 targets

Target vs. Price+19.7%last-quarter mean

Next Report2026-11-02street $2.08

Consensus estimates	Revenue mean	High / Low	EPS mean	High / Low	# EPS est.
FY2026	$2.86B	$2.87B / $2.83B	$7.69	$7.73 / $7.66	9
FY2027	$2.94B	$2.97B / $2.91B	$8.29	$8.63 / $8.04	9
FY2028	$3.04B	$3.14B / $2.95B	$9.06	$9.57 / $7.75	10

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Street Price Target — Trajectory

Window	Avg Target	vs. Price	# Targets
Last Month	$227.67	+21.7%	3
Last Quarter	$224.00	+19.7%	6
Last Year	$225.00	+20.3%	19
All Time	$291.08	+55.6%	60

Rolling mean of published targets vs. last close $187.06. Aggregated from StreetInsider, Benzinga, Pulse 2.0.

Third-Party Composite Rating

B-

DCF

4/5

ROE

1/5

ROA

5/5

Debt/Eq

1/5

P/E

2/5

P/B

1/5

Independent quant composite as of 2026-10-16; components scored 1–5 (5 best). Shown for contrast with the InsiderStreet Score — methodologies differ.

SBAC -4.7% vs S&P 500 +15.9% — spread -20.6pp

Sector — XLRE +0.9%

Peer Set — indexed to 100

All series indexed to 100 at the start of the window, adjusted closes.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Candlesticks with SMA 20/50 overlay, Bollinger (20,2σ) band, volume, and Wilder RSI(14) — computed from live daily OHLCV.

Moving Average	Value	Distance	% Distance	Signal
SMA 20	$171.49	+15.57	+9.08%	Above
SMA 50	$179.20	+7.86	+4.39%	Above
SMA 200	$190.35	-3.29	-1.73%	Below
EMA 9	$179.38	+7.68	+4.28%	Above
EMA 21	$176.27	+10.79	+6.12%	Above
EMA 50	$178.42	+8.64	+4.84%	Above
EMA 200	$189.07	-2.01	-1.06%	Below

Series and readings from the nightly technical-indicator history — identical data to the site's ribbon chart. Supertrend segments colored by direction.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

TECHNICAL VERDICTBULLISHPower Score +6520 of 22 indicator votes bullish

Family Scores (site weights)

Trend 30%80

Momentum 25%100

Volume 20%81

Volatility 10%100

Patterns 15%50

This Week82% bullishof 11 price-based votes

4 Weeks Ago0%+82 pts since

12 Weeks Ago0%+82 pts since

ReadImprovingweek-over-week trajectory

Price vs SMA 20$171.49

Price vs SMA 50$179.20

Price vs SMA 200$190.35

EMA 9/21 Cross179.4/176.3

SMA 50/200Death

ADX DirectionADX 29

Supertrend$167

Parabolic SAR$167

SMA Slope0.420

RSI64.2

Stochastic K/D90/88

StochRSI K/D94/92

Williams %R-3

CCI119

TSI vs Signal6.9

CMO28.5

ROC18.03%

OBV SignalAccum

Chaikin MF0.020

MFI62

Force Index3M

Elder Ray Bull11.80

RSI (14)30 oversold · 70 overbought

Stochastic %Kvs %D 88

Money Flowvolume-weighted RSI

ADXtrend strength · <20 weak

Williams %Rinverted scale

Level	Value	Level	Value
Pivot / R1 / R2	$183.73 / $186.08 / $188.43	S1 / S2	$181.38 / $179.03
Bollinger (20,2)	$153.11 – $189.87	Squeeze	Off
52-wk range	$156.60 – $224.46	Off 52-wk high	-16.7%
ATR (14)	$5.68 (3.0%)	Historical vol	39.0%

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

+0.3%Jan45%

+0.0%Feb60%

+3.7%Mar67%

+2.1%Apr60%

+0.7%May55%

+1.9%Jun55%

+2.7%Jul65%

-0.1%Aug50%

-2.3%Sep45%

+2.5%Oct65%

+1.9%Nov60%

+1.3%Dec55%

Sample: 20 years — treat short histories as suggestive, not statistical.

Computed from live weekly prices	SBAC	S&P 500
Weekly volatility (σ, 1y)	5.05%	1.83%
Best / worst week (1y)	+22.8% / -9.1%	—
Max drawdown (5y, monthly)	-53.7%	—
1-week VaR (95%)	-8.5%	—
Beta (5y)	0.98	1.00

SBAC EQUITY WEATHER (LIVE)CLOUDY · +1

Trend+23

Momentum+65

Volume-42

Volatility-60

Breadth-50

MARKET REGIME (2026-10-16)NEUTRAL

VIX19.99Normal

Dow TheoryConfirmed Bearish

SPY / QQQ TSI7.2 / 4.7trend strength

Sector Strength46/100breadth average

Average sentiment of 95 stories, weekly buckets, −1 to +1.

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NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Overall+1.1+29.1 vs industry

Trend+23.4+59.8 vs industry

Momentum+65.5+72.7 vs industry

Volume-41.5-8.8 vs industry

Reading	SBAC	REIT - Specialty n=56	Real Estate n=2,764	All US symbols n=70,435
Overall	+1.1	-28.0	-28.0	-20.5
Trend	+23.4	-36.4	-37.3	-21.3
Momentum	+65.5	-7.2	-17.0	-15.8
Volume	-41.5	-32.7	-26.6	-3.8

Trend, momentum and volume are computed per company. Volatility and breadth are market-regime values shared by every symbol in the universe, so they are reported once under Market Regime rather than compared here - a company cannot differ from its sector on a constant.

Executive	Total comp	Structure
Brendan T. Cavanagh President and Chief Exec	$11.4M	91% equity+incentive
Marc Montagner Executive Vice President and	$4.7M	85% equity+incentive
Joshua M. Koenig Executive Vice President, C	$3.8M	85% equity+incentive
Richard M. Cane Executive Vice President and	$3.8M	85% equity+incentive
Mark R. Ciarfella Executive Vice President -	$3.8M	84% equity+incentive

Pillar (live disclosure scores)	Score
Environmental	53
Social	48
Governance	61
Composite ESG	54

Composite ESG Trend

Filed	8-K contents	Items
2026-09-25	Financial Obligation	2.03
2026-08-03	Earnings Release; Exhibits	2.02,9.01
2026-07-24	Material Agreement; Termination of Agreement; Financial Obligation; Ex	1.01,1.02,2.03,9.01
2026-07-23	Other Events; Exhibits	8.01,9.01
2026-07-15	Material Agreement; Exhibits	1.01,9.01
2026-05-22	Shareholder Vote	5.07
2026-04-29	Earnings Release; Exhibits	2.02,9.01
2026-03-27	Officer/Director Change	5.02

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Methodology. Every figure originates in InsiderStreet's production data layer and is computed deterministically by the same engines that power insiderstreet.ai. This factsheet contains no model-written text. Sections without underlying data are omitted rather than estimated.

DISCLOSURES. This document is produced by InsiderStreet.ai from live production data. It is not investment advice, not an offer or solicitation to buy or sell any security, and not a recommendation tailored to any person. Data is sourced as of the dates shown and may no longer be current. InsiderStreet.ai is not a registered investment adviser or broker-dealer. Investing involves risk, including loss of principal. Past performance does not guarantee future results. Do not make any investment decision based on this document. © 2026 InsiderStreet.ai — all rights reserved. Redistribution prohibited.

Data domain	Source	Coverage for this report
Price & volume	market_db.historical_prices	52 rows
Fundamentals	income_statements_annual	6 rows · 2020 to 2025
Reported vs consensus	fact/earnings_calendar	24 rows · 2020-11-02 to 2026-08-03
Analyst estimates	dim/forward_estimates	3 rows · 2026-12-31 to 2028-12-31
Institutional ownership (13F)	holdings_db.institutional_ownership_summary	50 rows · 2013 to 2026
Insider transactions (Form 4)	edgar/form4	12 rows · 2026-05-22 to 2026-08-17
Proposed sales (Form 144)	edgar/form144	1 record
Beneficial ownership (13D/G)	edgar/13dg	4 rows · 2025-11-06 to 2026-04-30
Short-sale volume (FINRA)	edgar/short_volume_daily	60 rows · 2026-07-23 to 2026-10-15
Dark pool (ATS, tier 1)	edgar/darkpool_weekly	12 rows · 2026-06-15 to 2026-08-31
ETF & fund holding	etf_holdings_changelog (30d)	1 record
Peer set	stock_peers_dynamic	8 rows
Industry medians	industry_medians	1 record
Congressional trades	congress_db (House + Senate)	1 record
ESG	fact/esg_disclosures	1 record

Method. Every figure in this factsheet is looked up from a named field computed in code. It contains no model-written text.

Not covered. Short interest as a percent of float and days-to-cover are not in this data set — the short-sale figures above are FINRA volume, a flow, and cannot support squeeze or covering analysis. Options positioning and intraday data are also absent. 13F ownership is filed 45 days after quarter end and congressional trades are disclosed on a lag, so both describe a past position, not a current one.

SBA Communications Corporation (SBAC)

Score Breakdown

Peer Comparison — IS Score

IS Score Trend — quarterly

SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC)

Institutions holding — 12 quarters

SBA Communications Corporation (SBAC)

Monthly Net Insider Flow (000 shares)

Signal Summary

SBA Communications Corporation (SBAC)

2.8 · Largest Reporting 13F Managers

2.9 · Top ETF & Fund Ownership

13F Filers Holding SBAC — quarterly

Institutional Put/Call — quarterly

SBA Communications Corporation (SBAC)

Where SBAC Trades in the Dark

SBA Communications Corporation (SBAC)

3.8 · Employees (SEC filings)

SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC)

Balance Sheet — Full

Cash Flow Statement — Full

SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC)

Street Price Target — Trajectory

Third-Party Composite Rating

SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC)

Family Scores (site weights)

SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC)