SBA Communications Corporation (SBAC) is a large-cap stock valued at $20.3 billion. It operates as an independent owner and operator of wireless communications infrastructure by leasing antenna space on its towers to major wireless carriers. The company benefits from 5G network densification and steady demand for mobile connectivity.

Despite its $20.3 billion market cap, SBAC has slipped 22.8% below its 52-week high of $245.16, showing a decline of 1.1% over the past three months. The stock has fallen 15.2% over the past year and is down 7.1% year-to-date, trading below its moving averages since late August.

SBAC reported better-than-expected Q3 earnings, with total revenue increasing 9.7% year-over-year to $732.3 million. Although its AFFO per share declined slightly, the company outperformed analyst expectations. SBAC has lagged behind its rival, American Tower Corporation (AMT), which declined 14.1% over the past year and 2.1% year-to-date.

Analysts are moderately optimistic about SBAC’s future, with a consensus rating of “Moderate Buy” and a mean price target of $224.78, suggesting an 18.7% premium. Despite recent underperformance, SBAC remains a key player in the wireless communications industry.

Read more at Yahoo Finance: Is SBA Communications Stock Underperforming the S&P 500?