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Globe and Mail
24-06-2025
- Business
- Globe and Mail
SBAC Stock Rises 9.3% in Three Months: Will the Trend Last?
Shares of SBA Communications SBAC have rallied 9.3% in the past three months, outperforming the industry 's upside of 0.3%. SBAC's extensive and geographically diverse wireless communication infrastructure portfolio is well-positioned to gain from wireless carriers' high capital spending for network expansion amid growth in mobile data usage and accelerated 5G network deployment efforts. The long-term leases with its tenants assure stable revenues. Also, portfolio expansion moves, domestically and internationally, to capitalize on the secular trends of the industry are encouraging. Analysts seem positive about this Zacks Rank #3 (Hold) company. The Zacks Consensus Estimate for its 2025 FFO per share has been revised marginally northward to $12.72 over the past two months. Factors Behind SBAC Stock Price Rise: Will This Trend Last? The advancement in mobile technology, such as 4G and 5G networks, and the proliferation of bandwidth-intensive applications have propelled growth in mobile data usage globally. Wireless service providers continue to lease additional antenna space on the company's towers amid the increase in network use, data transfer, network expansion and network coverage requirements. As such, SBA Communications' portfolio of extensive infrastructure assets is well-poised to capitalize on this upbeat trend. SBA Communications has a resilient and stable site-leasing business model. The company generates most of its revenues from long-term (typically five to 10 years) tower leases that have built-in rent escalators. With high operating margins, its tower-leasing business remains attractive. The company also offers wireless service providers assistance in developing and maintaining their networks. Given the vast array of services the company offers due to its extensive site development experience, it is likely to propel its growth over the long term. As the company continues to expand its tower portfolio and seek new growth opportunities, it focuses on business expansion into domestic and select international markets with high-growth characteristics. As of April 28, 2025, along with around Millicom's 6,700 sites under contract for $925 million in cash, SBA Communications is under contract to buy 18 communication sites for a total consideration of $10 million in cash, which is expected to close by the end of the third quarter. Such portfolio expansion efforts will position SBA Communications to leverage secular trends in mobile data usage and wireless spending growth worldwide. SBA Communications' dividend hikes and share buybacks demonstrate its commitment to driving shareholder value and superior capital-distribution ability. The company has increased its dividend five times in the last five years, and its five-year annualized dividend growth rate is 19.97%. Given SBA Communications' solid operating platform, decent financial position and lower-than-industry dividend payout rate, the dividend distribution is expected to be sustainable over the long run. Also, following the first quarter of 2025, SBA Communications repurchased 583,000 shares of its Class A common stock for an aggregate amount of $122.9 million under its $1 billion stock repurchase plan. Such efforts boost shareholders' confidence in the stock. Key Risks for SBAC High customer concentration and the ongoing consolidation in the wireless industry are concerns for SBA Communications' top-line growth. Elevated interest rates add to the company's woes. Stocks to Consider Some better-ranked stocks from the REIT sector are VICI Properties VICI and W.P. Carey WPC,each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate for VICI Properties' 2025 FFO per share is pegged at $2.35, up 3.98% year over year. The Zacks Consensus Estimate for W.P. Carey's2025 FFO per share stands at $4.88, up 3.83% year over year. Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> SBA Communications Corporation (SBAC): Free Stock Analysis Report W.P. Carey Inc. (WPC): Free Stock Analysis Report VICI Properties Inc. (VICI): Free Stock Analysis Report
Sky News
08-05-2025
- Politics
- Sky News
Conclave live: Cardinals return for day two of conclave as crowds gather outside Sistine Chapel
Conclave day two Cardinals return for day two of conclave after failing to elect new pope yesterday First round of voting begins at 8.30am - then we wait to see smoke White smoke above Sistine Chapel signals a successor is chosen, but black smoke signals the wait goes on Reporting by Europe correspondent Siobhan Robbinsand Europe producer Simone Baglivo in Vatican City In depth How the late pontiff is still playing a role in electing his successor While we're all here asking the question of who will replace Pope Francis, the late pontiff himself is playing his own role in the process. The cardinals of the Catholic Church aged under 80 are those locked in the Sistine Chapel for the secretive vote. There are 133 of them this time around, and the Pope named 108 of them. He chose many of them from far-flung countries like Mongolia, Sweden and Tonga. Many of these were places that had never had a cardinal before. Francis's decision to surpass the usual limit of 120 cardinal electors has both lengthened the amount of time it takes for each vote to be processed and also injected more uncertainty into the vote. Also as a result of his work, this conclave is the most geographically diverse in the faith's 2,000-year history. Conclave day two key timings Here are all of the key timings for day two of the conclave. Up to four rounds of voting can take place each day - two in the morning and two in the afternoon. All of the following are in UK timings: The morning session runs from 8.30am-11.30am, with two votes taking place during this session. The second round of voting today runs from 3.30pm-6.00pm. Again, two rounds of voting will take place during this. However, black smoke is only sent out after two consecutive failed voting sessions. This means, if we get smoke ahead of roughly 11.30am or 6pm then there's a good chance it could be white smoke. In pictures: Faithful queue for spot in St Peter's Square Tens of thousands of people waited to see smoke above the Sistine Chapel in St Peter's Square last night - and crowds are gathering again this morning. Cardinals return for day two of voting Welcome back to our live coverage of the conclave as the wait for a new pope goes on. Last night, black smoke above the Sistine Chapel signalled the 133 cardinals had failed to elect a replacement for Pope Francis in the first round of voting - four hours after they entered the building. At 8.30am UK time this morning, they will return to the Sistine Chapel to continue voting. Up to four rounds of voting can take place each day - two in the morning and two in the afternoon. Last night we expected to see smoke above the chapel at 6pm but it didn't come until 8pm. Vatican sources told Sky News that the delay in yesterday's voting was for two reasons: The sermon by Raniero Cantalamessa, an Italian cardinal, was longer than expected (between 45 minutes and one hour); Several cardinals needed help with the translation. It remains a wide-open election with one of the biggest and most geographically diverse College of Cardinals in history. To win, one man needs to secure a two-thirds majority of the 133 cardinals, or 89 votes, to become the 267th pope. For recent popes, it has generally taken a few rounds of voting to elect a successor. When a successor is chosen, white smoke will rise from the Sistine Chapel. The cardinals began the secretive, centuries-old ritual yesterday afternoon, participating in a rite so theatrical that Hollywood recreated it this year in the Ralph Fiennes-led film. The voting is undertaken secretly and in silence, a process designed to be free from external interference. Large crowds gathered outside the chapel in St Peter's Square yesterday to wait for the first smoke signal and are already returning this morning. Stay with us for the latest throughout the day. That's all for this evening That concludes our coverage of the first day of conclave. As expected, cardinals sent black smoke out of the Sistine Chapel, meaning no decision has been made on Pope Francis's successor. It means the 133 cardinals have not come to a decision in the first vote of the conclave, and the process continues. There will now be a maximum of four votes a day from tomorrow until a new pope is elected. Still, tens of thousands of believers waited in the Vatican to take in the proceedings, which began with Mass and a march of the cardinals. Cardinals will go to pray in the Pauline Chapel at 7.45am tomorrow - that's 6.45am in the UK. Then they'll go into the Sistine Chapel to vote at 9.30am local time (8.30am UK time). We'll bring you the latest updates as they happen. Until then, goodnight. 'Collective groan' when black smoke emerged There was a "collective groan" when black smoke emerged, our Europe correspondent Siobhan Robbins, who is at the Vatican, says. She says it had been a "tense few hours" before the black smoke finally emerged from the Sistine Chapel. "As each hour ticked by, the tension rose and if someone clapped or thought they had seen smoke, everyone then peered to try and catch a glimpse of it - but then there was no result hour after hour," she says. "And then people started wondering if we were going to get a pope. And then nerves frayed even further." She says when the black smoke rose there was a "collective groan" and people started leaving St Peter's Square "very quickly". Robbins also says people from around the world had arrived to the Vatican "wanting to be a part of history" and see who would follow Pope Francis. How did the first round of voting unfold? No pope was elected today. And so cardinals will return to voting tomorrow. Here, we take a look at how today unfolded at the Sistine Chapel... Just after 3.30pm UK time , the 133 cardinals began filing into the Sistine Chapel, where the conclave takes place; After taking their positions in the chapel they placed their birettas on the table as they took a collective oath of secrecy; They then took their individual oath of secrecy; At around 4.43pm, cardinal George Jacob Koovakad, who was the last to enter, took his oath; And at around 4.47pm, the doors to the Sistine Chapel were closed - and the conclave to elect a new pope was under way; Finally, at 8pm UK time, black smoke emerged from chimney - meaning conclave will continue tomorrow. Vatican confirms reasons for voting delay Crowds were left waiting for hours today as cardinals began their first round of voting. And Vatican sources have now confirmed to Sky's team on the ground the two causes for the voting delay. Here are the reasons: The sermon by Raniero Cantalamessa, an Italian cardinal, was longer than expected (between 45 minutes and one hour); Several cardinals needed help with the translation. It should be noted on the second reason that many of the cardinals don't speak any Italian or Latin and have also been in the role for a short period of time. Watch: No new pope elected in first ballot Earlier, black smoke emerged from the chimney above the Sistine Chapel. This means the 133 cardinals have not come to a decision in the first vote of the conclave, and the process continues. Here is the moment that black smoke emerged... In pictures: Thousands gathered ahead of black smoke moment Ahead of black smoke emanating from the Sistine Chapel an hour ago, meaning no new pope has been named today, thousands were gathered in the Vatican, keen to get a first glimpse. Here's a look at the size of those crowds...
