SBA Communications Q1 2025 Update: Buybacks Begin

• Guidance for 2025 raised 1.16% for AFFO per share attributable to SBAC.

• Shares repurchased in early April. Average price per share of $210.87.

• By my math, about 0.54% of shares outstanding were repurchased.

• AFFO per share attributable to SBAC of $3.16 matches the consensus estimate.

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