13 Most Profitable Real Estate Stocks Now

4. SBA Communications Corporation (NASDAQ:SBAC)

Number of Hedge Fund Holders: 45

5 Year Net Income Growth: 31.41%

SBA Communications Corporation (NASDAQ:SBAC) is a leading owner and operator of wireless communications infrastructure throughout the Americas, Africa, and Asia. The company was formed in 1989 and is based in Boca Raton, Florida. It generates revenue from two primary businesses including site leasing and site development.

SBA Communications Corporation (NASDAQ:SBAC) is one of the largest real estate investment trusts based on market cap. The firm has a robust business model which capitalizes on the exponential growth in mobile data consumption. With 8.9 billion global mobile subscribers, the market opportunity is vast. Thus, the firm benefits from an established and proven business model in a thriving market.

The financial results for the firm’s second quarter were solid. The firm recorded industry-leading AFFO per share of $3.29, a 1.5% increase as compared to the prior-year period. While the new business execution in the US remains modest, the positive sign for the company is a pick-up in new leasing activity internationally.

As of June 30, 2024, the firm owned or operated 39,744 communication sites, 17,461 of which are located in the US and its territories and 22,283 of which are located internationally. A leading position in the global wireless communications infrastructure market deems SBAC attractive and ranks it among the most profitable real estate stocks. The stock is held by 45 hedge funds, as of 2024’s second quarter.