Wireless tower owner Global Signal Inc., formerly known as Pinnacle Holdings, has returned to the public market with an initial public offering of 7 million shares of common stock priced at $18 per share. Shares of Global Signal, under the symbol GSL, began trading...
Wireless tower owner Global Signal Inc., formerly Pinnacle Holdings, has returned to the public market with an initial public offering of 7 million shares of common stock priced at $18 per share. Shares of Global Signal, under the symbol GSL, began trading today, and...
CARY, N.C.-SpectraSite Inc.'s previously announced secondary offering of 9 million shares of common stock has been priced at $36.25 per share. The shares are being offered through Apollo Management V L.P., Oaktree Capital Management L.L.C. and Capital Research and Management Co. The selling stockholders...
Despite increased revenues, tower companies Crown Castle International Corp. and SBA Communications Corp. reported first-quarter financials in the red, although Crown managed to shave its losses.Crown reported site rental and broadcast transmission revenue of $219.4 million, up 18.6 percent, or $34.4 million, from last...
SpectraSite Inc. kicked off wireless tower company first-quarter earning releases this week on a positive note.The company said revenues for the first quarter were $84.6 million and operating income was $21.4 million. Net income, after expenses, was $7.1 million, or 15 cents per share,...
BOCA RATON, Fla.-SBA Communications Corp. announced it has hired a new chief financial officer. In addition to heading up financial aspects of SBA, Anthony Macaione, 40, will also serve as senior vice president. Macaione, a certified public accountant, joins from Perry Ellis International Inc.,...
HOUSTON-Crown Castle International Corp. put wireless communications tower stock traders in a frenzy this week when it offered up a concrete sign of hope for the sector by raising its earnings expectations for the full year.Crown said it now expects site rental and broadcast...
Crown Castle International Corp. put wireless communications tower stock traders in a frenzy this week when it offered up a concrete sign of hope for the sector by raising its earnings expectations for the full year.Crown said it now expects site rental and broadcast...
NEW YORK-Lehman Brothers analyst Blake Bath this week initiated coverage of tower companies American Tower Corp., Crown Castle International Corp. and SpectraSite Inc. with various ratings. Bath rated American Tower "overweight" with a $16 price target, Crown was rated "equal-weight" with a $15 price...
Wireless communication tower owners American Tower Corp., Crown Castle International Corp. and SpectraSite Inc. spoke at last week's Raymond James & Associates Inc. Institutional Investors Conference, where all three companies expressed optimism for strong tower lease-ups in 2004. American Tower said it expects industry...
CARY, N.C.-SpectraSite Communications Inc. announced it has completed the sale of its broadcast services division to Doty, Moore & Hoenninger L.L.C., an investment vehicle owned by members of the broadcast group's existing management team."The sale of our broadcast services division represents the final step...
BOCA RATON, Fla.-SBA Communications Corp. rounded out the tower company fourth-quarter 2003 earnings with mixed results, released late Thursday.Total revenues stood at $57.6 million, compared with $57.4 million a year ago. Net loss was $51.2 million, or 95 cents per share, increased from a...
NEW YORK-Tower stocks are slightly down in value despite strong earnings reports from American Tower Corp. and Crown Castle International Corp. earlier this week.Analysts from Raymond James & Associates Inc. point to Cingular Wireless L.L.C.'s suggestion yesterday that they would trim back on cell...
As the battle for network supremacy rages on, wireless carriers are targeting places with minimal wireless coverage, including highly trafficked indoor spaces like airports, shopping malls, casinos, office buildings, healthcare facilities, government buildings, convention centers and public transportation systems. Carriers are still deciding how...
CARY, N.C.-SpectraSite Inc. recently released its fourth-quarter 2003 results, warning they are not necessarily comparable to the previous year's results since the company was reorganized in early 2003.The company said its total revenues were $81.6 million, compared with $74.9 million in the previous year's...
The sale of AT&T Wireless Services Inc. is unlikely to have a long-term negative effect on the tower industry, according to tower companies and analysts in the space, who this week applauded strong 2004 tower-build expectations released by AWS and Cingular Wireless L.L.C.Cingular said...
Affirmation from wireless carriers and equipment vendors, as well as industry analysts and Wall Street, is driving optimism from tower companies regarding new tower builds. Analyst firm Raymond James and Associates Inc. said its belief cell-site deployments are increasing was validated by equipment supplier...
When tight carrier capital spending forced tower companies to focus on their primary businesses, non-core assets like managed rooftop portfolios justifiably became a second priority. But as the sector rebounds, tower companies will have to decide whether to tend to those neglected assets or...
BOCA RATON, Fla.-SBA Communications Corp. has released its third-quarter 2003 financial earnings. The company also released the results of a re-audit of its fiscal year 2001 and 2002 financial statements to reflect the sale of towers to AAT Communications Corp. and other towers held...
Tower owner and operator SpectraSite Inc. this week released fairly solid third-quarter 2003 financial results.SpectraSite reported total revenues of $83.9 million, up from $79.3 million for the third quarter of 2002. Revenues from site operations were $79.5 million, up from $72 million in the...
NEW YORK-Analysts including Raymond James & Associates Inc. and Bear Stearns and Co. Inc. have re-initiated coverage of SpectraSite Inc. following the company's re-listing on the New York Stock Exchange earlier this month.Raymond James gave the stock a "strong buy" rating and a $41.50...
HOLLYWOOD, Fla.-Wireless carriers are going to have to fortify their networks to become increasingly reliable as more people cut the cord. Does that sound like good news for tower companies, which have been victims of carriers' tightly closed purse strings during the past year?Not...
CARY, N.C.-SpectraSite Inc. said it has priced its previously announced secondary offering of 9 million shares of common stock at $30.25 per share. Underwriters have been granted an option to purchase 1.35 million additional shares of common stock.
NEW YORK-Bear Stearns & Co. Inc. has raised its wireless tower sector rating to "market overweight," reflecting its confidence in the industry's ability to continue financial deleveraging. The analyst firm specifically raised its rating on Crown Castle International Inc. to "outperform" and its year-end...
