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SBA Communications Raises FY Outlook

While announcing its third quarter results, SBA Communications Corp. (SBAC) said it again increased its 2022 Outlook across all key financial metrics, and expects to end the year at or below the low-end of our net debt/annualized adjusted EBITDA ratio target range.

For the full year 2022, the company now expects AFFO to be in the range of $12.12 to $12.34 per share and total revenues of $2.62 billion - $2.64 billion. Previously, the company expected annual AFFO of $11.87 to $12.24 per share and revenues of $2.56 billion to $2.60 billion.

Analysts polled by Thomson Reuters expect the company to report earnings of $$4.20 per share and revenues of $2.58 billion for fiscal year 2022. Analysts' estimates typically exclude special items.

In addition, the company has declared a quarterly cash dividend of $0.71 per share of the company's Class A Common Stock. The distribution is payable December 15, 2022 to the shareholders of record at the close of business on November 17, 2022.

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