Trade-Ideas LLC Identifies SBA Communications as a New Lifetime High Candidate

http://insidetowers.com/trade-ideas-llc-identifies-sba-communications-new-lifetime-high-candidate/

Crown Castle Will Release Third Quarter Results Later This Month

 

Crown Castle International announced that they will release their third quarter 2013 results on Wednesday, October 23, 2013 after the market closes. Crown Castle has also scheduled a conference call for Thursday, October 24, 2013 at 10:30am.

Crown Castle owns, operates, and leases towers and other infrastructure for wireless communications. Crown Castle offers significant wireless communications coverage to 98 of the top 100 U.S. markets and to substantially all of the Australian population. Crown Castle owns, operates and manages over 30,000 and approximately 1,700 wireless communication sites in the U.S. and Australia, respectively. 

Conversion Right Triggered on SBA Communications' 4.0% Convertible Senior Notes

Today SBA Communications Corporation announced that SBA’s 4.0% Convertible Senior Notes due 2014 are convertible by holders of such notes.  Upon issuance of the 4.0% Notes, SBA elected to settle such notes in shares of SBA's Class A common stock and that election is still in effect.

 “The conversion right for the 4.0% Notes has been triggered because SBA's Class A common stock closing price per share exceeded $39.49 for at least 20 trading days during the 30 consecutive trading day period ending on September 30, 2013. The 4.0% Notes will continue to be convertible until December 31, 2013, and may be convertible thereafter, if one or more of the conversion conditions specified in the Indenture, dated as of April 24, 2009, by and between SBA and U.S. Bank National Association, is satisfied during future measurement periods. Pursuant to Section 10.01 of the Indenture, a holder who elects to convert the 4.0% Notes will receive 32.9164 shares of SBA's Class A common stock per $1,000 principal amount of notes. Pursuant to Section 10.02 of the Indenture, these shares will be delivered 50 trading days after the holder delivers its notice of conversion, unless a settlement period market disruption event (as defined in the Indenture) occurs during this period,” according to SBA.

SBA Posts Stock Information For Week of 9/23/2013

Stock information for SBA Communications Corp (NASDAQ:SBAC) for the week of 09/23/2013.

Date	Open	Close	High	Low	Volume
09/23/2013	77.19	77.22	77.88	76.96	901,726
09/24/2013	76.455	77.42	77.99	76.455	1,039,401
09/25/2013	77.42	77.99	78.12	76.66	1,054,075
09/26/2013	78.31	79.69	79.71	78.0791	1,771,650
09/27/2013	79.51	79.83	80.05	79.26	1,076,180

Crown Castle Posts Weekly Stock Summary for Last Week

Crown Castle International Corp. added the following items to its Investor Relations website during the week of September 16, 2013 to September 20, 2013.

	Monday	Tuesday	Wednesday	Thursday	Friday
Opening Price	$70.85	$70.59	$70.10	$70.88	$71.00
Last Trade	$70.50	$70.45	$70.60	$71.21	$70.62
Price Change	$0.64	$-0.05	$0.15	$0.61	$-0.59
% Change	0.92%	-0.07%	0.21%	0.86%	-0.83%
Day´s High	$71.04	$70.78	$71.08	$71.67	$71.47
Day´s Low	$70.22	$70.20	$69.28	$70.66	$70.46
Volume	2,446,716	1,723,874	4,906,298	2,391,028	2,518,323

Crown Castle COO Sells 12,860 Shares of the Company’s Stock

Thursday, September 12^th, Crown Castle International’s COO, James Young, sold 12,860 shares of the company’s stock on the open market. The shares were sold at an average price of $71.44, for a total value of $918,718.40. Following this transaction, Young, directly owns 271,256 shares in the company. You can see the details of this transaction from the SEC filing, here . 

SBA Communications Weekly Stock Notification for the week of September 9, 2013

Below is the stock information for SBA Communications Corp (NASDAQ:SBAC) for the week of 09/09/2013.

Date	Open	Close	High	Low	Volume
09/09/2013	76.13	77.02	77.35	75.99	1,600,687
09/10/2013	77.18	78.26	78.26	77.11	1,089,694
09/11/2013	78.08	78.57	78.79	77.71	835,518
09/12/2013	78.75	77.24	78.75	77.1305	993,279
09/13/2013	77.5	76.5	77.5	76.4	959,676

Verizon Communications Declares Quarterly Dividend

Today the Board of Directors of Verizon Communications Inc. declared a quarterly dividend of 53 cents per outstanding share. This is an increase of 1.5 cents per share of a 2.9 percent increase from the previous quarter.

According to Verizon Communications, “The quarterly dividend is payable on Nov. 1, 2013, to Verizon Communications shareowners of record at the close of business on Oct. 10, 2013. This is the seventh consecutive year that Verizon's Board of Directors has approved a quarterly dividend increase.”

Verizon has approximately 2.7 million shareowners and approximately 2.9 billion shares of common stock outstanding.  The company made $2.9 billion in dividend payments through the first half of 2013.

SBA Stock Quotes Released For Last Week

Stock information for SBA Communications Corp (NASDAQ:SBAC) for the week of 08/26/2013:

Date	Open	Close	High	Low	Volume
08/26/2013	73.53	73.53	74.45	72.976	852,156
08/27/2013	73.21	74.3	74.53	72.72	1,621,792
08/28/2013	74.28	74.61	75.06	73.79	1,254,428
08/29/2013	74.29	75.11	75.57	74.14	1,010,972
08/30/2013	75.29	75	75.53	74.75	914,637

Crown Castle Releases Stock Summary for This Past Week

Crown Castle International Corp. added their stock summary for the week of August 26, 2013 to August 30, 2013:

	Monday	Tuesday	Wednesday	Thursday	Friday
Opening Price	$69.68	$68.44	$69.92	$69.56	$70.10
Last Trade	$68.99	$69.95	$69.82	$69.91	$69.42
Price Change	$-0.74	$0.96	$-0.13	$0.09	$-0.49
% Change	-1.06%	1.39%	-0.19%	0.13%	-0.7%
Day´s High	$70.03	$70.20	$70.25	$70.46	$70.24
Day´s Low	$68.93	$68.44	$69.70	$69.50	$69.21
Volume	800,335	2,461,051	1,931,115	888,996	1,281,566

S&P Upgrades Ratings Three Wireless-Tower Operators

Standard& Poor’s, a credit rating company, announced today that they completed their CreditWatch review or three U.S. wireless tower operators: American Tower Corporation, Crown Castle International Inc., and SBA Communications Inc. A credit rating is Standard & Poor's opinion on the general creditworthiness of an obligor, or the creditworthiness of an obligor with respect to a particular debt security or other financial obligation. 

Here is the overview of the review from S&P:

• We have raised the corporate credit rating and senior unsecured debt rating on American Tower Corp. to 'BBB-' from 'BB+' and removed the ratings from CreditWatch positive.
• We have raised the corporate credit rating on Crown Castle International Corp. to 'BB-' from 'B+' and raised all other ratings by one notch. We removed the ratings from CreditWatch positive.
• We have raised the corporate credit rating on SBA Communications Corp. to 'BB-' from B+' and raised all other ratings by one notch. We removed the ratings from CreditWatch positive.
• The stable outlook on all three entities reflects the predictability and stability of their tower leasing businesses, which should continue to support current ratings over the next few years.

S&P believes that the outlooks are stable. "As part of our sector review of wireless tower operators, we have revised our assessment of the business risk profiles on each of these companies to 'excellent' from 'strong' based on key fundamentals that have prevailed over the past several years," said Standard & Poor's credit analyst Catherine

Cosentino. They include:

• Very healthy leasing gross profit and overall reported EBITDA margins of at least 70% and 60%, respectively;
• Low volatility and cyclicality of the business, leading to high predictability of cash flows;
• Long-term contracts and high renewal rates with large telecom carrier customers; and
• Very high barriers to entry, especially in the U.S. market but also in most of the company's growing non-U.S. markets.

Weekly Stock Information Released For SBA Communications

Stock information for SBA Communications Corp (NASDAQ:SBAC) for the week of 08/05/2013.

Date	Open	Close	High	Low	Volume
08/05/2013	73.25	75.37	75.42	73.06	3,376,732
08/06/2013	75.4	74.6	75.9	74.5	2,005,819
08/07/2013	74.64	73.58	74.86	73.57	1,469,875
08/08/2013	73.52	73.27	73.84	73.1	1,964,099
08/09/2013	73.42	73.44	74.05	73.13	2,302,247