The Boca Raton-based developer and operator of telecommunications towers announced Monday evening it now manages a portfolio of 3,254 towers as of the three months ended June 30. That is up from the 1,660 reported for the same period last year.
Announcement of the operational results comes as a consensus of stock analysts tracked by Thompson/First Call recently shaved a penny off the company's second quarter earnings forecast. The company now is forecast to show a net loss of 47 cents a share for the second quarter.
News of the results had little apparent impact on the SBA's publicly traded stock, since the company disclosed results after the markets closed. Shares closed up 13 cents at $22.10 on volume of 237,300, well below the 52-week high of $57 a share. The issue has traded as low as $12.69 over the same period.
The tower developer also disclosed it has negotiated rights acquire an additional 407 towers an estimated aggregate purchase price of $107 million.
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