SBA keeps balance sheet optimized but could go up one leverage turn

By Devika Patel

Knoxville, Tenn., Sept. 13 – SBA Communications Corp. plans to keep its balance sheet optimized but may consider going up at least one turn in leverage if the right acquisition opportunity came along.

“The key to our thinking and what I think has been a key portion of our success is we have kept the balance sheet fully optimized and I think we’re going to continue to do that,” president and chief executive officer Jeffrey A. Stoops said at the Goldman Sachs 26th Annual Communacopia Conference in New York on Wednesday.

“As we look forward, while interest rates may move up and down a little bit, we don’t think they’re going to move all that dramatically and we think we’re going to have a continued environment where we can create a lot of value by continuing to be a leveraged capital appreciation story,” he said.

Stoops said the company could increase its leverage if a good acquisition opportunity appeared.

“We could go at least a turn [in leverage], probably a little more than that, higher for an acquisition where we have a good plan to de-lever in 12 to 18 months,” Stoops said.

SBA is a Boca Raton, Fla.-based owner and operator of wireless communications infrastructure.

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