---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-262644"
form_type: "8-K"
ticker: "SBAC"
cik: "0001034054"
company_name: "SBA COMMUNICATIONS CORP"
filed_at: "2025-11-03T23:59:59+00:00"
generated_at: "2026-05-17T00:48:51.373745+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SBA Communications Q3 EPS $2.20, AFFO $3.30; dividend $1.11; Verizon lease signed

## Summary
- Q3 net income $240.4M ($2.20 diluted EPS); AFFO per share $3.30.
- Site leasing revenue $656.4M (+4.9% YoY); site development $75.9M (+81.2%).
- Adjusted EBITDA $493.3M, AFFO $354.9M; repurchased 958k shares for $194M.
- New long-term master-lease agreement with Verizon signed; sold Canadian towers post-quarter.
- Quarterly dividend $1.11/share payable Dec 11, record Nov 13; leverage target revised to 6.0-7.0x.

## SEC filing metadata
- accession: 0001193125-25-262644
- form_type: 8-K
- ticker: SBAC
- cik: 0001034054
- company_name: SBA COMMUNICATIONS CORP
- filed_at: 2025-11-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1034054/000119312525262644/0001193125-25-262644-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1034054/000119312525262644/d94208d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-262644
- JSON: https://secwatch.observer/filing/0001193125-25-262644.json
- Plain text: https://secwatch.observer/filing/0001193125-25-262644.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.