We expect SBA to produce more-volatile results than its peers over time.
The Oi bankruptcy dented SBA Communications' second-quarter results, which were otherwise largely in line with our expectations. The Brazilian carrier is SBA’s largest customer outside of the United States, accounting for about 8% of leasing revenue. The firm wrote off receivables outstanding at the time of the bankruptcy filing in June 2016 and, like American Tower, has been receiving payment for rents accrued since then. SBA also indicated that Oi has already resumed leasing activity, but over...SBA Communications is a holding company. Through its subsidiaries, the company is an owner and operator of wireless communications infrastructure, including tower structures, rooftops, and other structures that support antennas used for wireless communications. The company's operations are in the U.S. and its territories. In its site leasing business, the company leases antenna space to wireless service providers on towers that the company owns or operates and manages rooftop and tower sites for property owners under various contractual arrangements. In its site development business, the company assists wireless service providers in developing and maintaining their own wireless service networks.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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