Breaking will be offline for scheduled maintenance Saturday May 8 3 AM US EST to 12 PM EST. We apologize for the inconvenience.


Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOCA RATON, FL-Publicly traded stock in SBA Communications Corp. closed down Friday $1.44 a share on news the company reported a 195% increase in second-quarter net losses.

Besides waking to news of the wider losses, the company’s shareholders also learned Friday that Legg Mason Inc., a Baltimore, MD-based financial services company, downgraded the issue to a “buy” from “strong buy.”

Although it is reporting wider net losses, the company also noted that total revenue, earning before income taxes, depreciation and amortization and tower cash flow for the three months ended June 30 reached new company records.

The Boca Raton-based developer-operator of wireless communications towers reported a net loss of $23.3 million, or 50 cents a share, on revenue of $57.8 million for the second quarter ended June 30, compared with a net loss of $7.9 million, or 20 cents per share, on total revenue of $38.5 million for the same period a year ago.

The company also announced it expects to report a non-recurring developmental charge in the third quarter of 2001–estimated at between $21 and $24 million. That will include write-off of costs attributed to the abandonment of development activity on certain new tower build sites, employee-separation costs and costs accrued from closing or consolidating selected offices.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.