Feb 24 (Reuters) - SBA Communications SBAC.O forecast annual 2025 adjusted funds from operations (FFO) below estimates on Monday, citing negative impact of foreign currency exchange rates and economic uncertainty.
Shares of Florida-based SBA Communications fell around 2% in extended trading.
The REIT sees annual adjusted FFO per share between $12.40 and $12.76, below analysts' estimate of $12.97 per share, according to data compiled by LSEG.
Businesses are keeping a tight leash on their budgets due to foreign exchange rate uncertainty and high interest rates, hitting demand for companies such as SBA Communications, analysts say.
SBA Communications leases space and manages tower sites for wireless carriers including AT&T T.N, T-Mobile US TMUS.O and Verizon Communications VZ.N.
The company expects annual 2025 revenue to be between $2.69 billion and $2.74 billion, the midpoint of which is slightly below the analysts' average estimate of $2.72 billion.
For the fourth quarter ended December 31, the company reported revenue of $693.7 million, beating analysts' estimate of $681.6 million.
The company's board of directors also declared a quarterly cash dividend of $1.11 per share, an increase of about 13% over the dividend paid in the fourth quarter.
(Reporting by Kritika Lamba in Bengaluru; Editing by Krishna Chandra Eluri and Alan Barona)
((Kritika.Lamba@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.