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Landmark Infrastructure Partners

Nasdaq:LMRK
Snowflake Description

Proven track record and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LMRK
Nasdaq
$407M
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Landmark Infrastructure Partners LP acquires, develops, owns, and manages a portfolio of real property interests and infrastructure assets in the United States. The last earnings update was 22 days ago. More info.


Add to Portfolio Compare Print
  • Landmark Infrastructure Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
LMRK Share Price and Events
7 Day Returns
-0.4%
NasdaqGM:LMRK
-0.8%
US Real Estate
0.2%
US Market
1 Year Returns
13.9%
NasdaqGM:LMRK
-16.5%
US Real Estate
2.9%
US Market
LMRK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Landmark Infrastructure Partners (LMRK) -0.4% -3.3% 12.8% 13.9% 4.9% -
US Real Estate -0.8% -6.9% -9.9% -16.5% 14.5% 1%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • LMRK outperformed the Real Estate industry which returned -16.5% over the past year.
  • LMRK outperformed the Market in United States of America which returned 2.9% over the past year.
Price Volatility
LMRK
Industry
5yr Volatility vs Market

LMRK Value

 Is Landmark Infrastructure Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Landmark Infrastructure Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Landmark Infrastructure Partners.

NasdaqGM:LMRK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:LMRK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.108 (1 + (1- 21%) (97.39%))
1.643
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.64
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.643 * 5.96%)
12.52%

Discounted Cash Flow Calculation for NasdaqGM:LMRK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Landmark Infrastructure Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGM:LMRK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 12.52%)
2019 33.97 Analyst x1 30.19
2020 39.49 Analyst x1 31.19
2021 41.98 Est @ 6.32% 29.47
2022 44.18 Est @ 5.24% 27.56
2023 46.16 Est @ 4.49% 25.59
2024 47.99 Est @ 3.96% 23.64
2025 49.72 Est @ 3.59% 21.77
2026 51.37 Est @ 3.33% 19.99
2027 52.99 Est @ 3.15% 18.32
2028 54.59 Est @ 3.03% 16.78
Present value of next 10 years cash flows $244.50
NasdaqGM:LMRK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $54.59 × (1 + 2.73%) ÷ (12.52% – 2.73%)
$572.68
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $572.68 ÷ (1 + 12.52%)10
$175.99
NasdaqGM:LMRK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $244.50 + $175.99
$420.48
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $420.48 / 25.34
$16.59
NasdaqGM:LMRK Discount to Share Price
Calculation Result
Value per share (USD) From above. $16.59
Current discount Discount to share price of $16.06
= -1 x ($16.06 - $16.59) / $16.59
3.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Landmark Infrastructure Partners is available for.
Intrinsic value
3%
Share price is $16.06 vs Future cash flow value of $16.59
Current Discount Checks
For Landmark Infrastructure Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Landmark Infrastructure Partners's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Landmark Infrastructure Partners's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Landmark Infrastructure Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Landmark Infrastructure Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:LMRK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $4.11
NasdaqGM:LMRK Share Price ** NasdaqGM (2019-05-22) in USD $16.06
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 15.11x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Landmark Infrastructure Partners.

NasdaqGM:LMRK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:LMRK Share Price ÷ EPS (both in USD)

= 16.06 ÷ 4.11

3.91x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Landmark Infrastructure Partners is good value based on earnings compared to the US Real Estate industry average.
  • Landmark Infrastructure Partners is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Landmark Infrastructure Partners's expected growth come at a high price?
Raw Data
NasdaqGM:LMRK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-51.3%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.45x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

NasdaqGM:LMRK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 3.91x ÷ -51.3%

-0.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Landmark Infrastructure Partners earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Landmark Infrastructure Partners's assets?
Raw Data
NasdaqGM:LMRK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $15.97
NasdaqGM:LMRK Share Price * NasdaqGM (2019-05-22) in USD $16.06
United States of America Real Estate Industry PB Ratio Median Figure of 51 Publicly-Listed Real Estate Companies 1.51x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
NasdaqGM:LMRK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:LMRK Share Price ÷ Book Value per Share (both in USD)

= 16.06 ÷ 15.97

1.01x

* Primary Listing of Landmark Infrastructure Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Landmark Infrastructure Partners is good value based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Landmark Infrastructure Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Landmark Infrastructure Partners has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

LMRK Future Performance

 How is Landmark Infrastructure Partners expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-51.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Landmark Infrastructure Partners expected to grow at an attractive rate?
  • Landmark Infrastructure Partners's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Landmark Infrastructure Partners's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Landmark Infrastructure Partners's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:LMRK Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:LMRK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -51.3%
NasdaqGM:LMRK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 7%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 4.3%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:LMRK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:LMRK Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 68 29 4
2019-12-31 61 26 4
NasdaqGM:LMRK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 63 28 104
2018-12-31 65 31 104
2018-09-30 65 38 117
2018-06-30 60 36 17
2018-03-31 56 33 15
2017-12-31 53 28 12
2017-09-30 50 25 12
2017-06-30 46 23 11
2017-03-31 43 23 10
2016-12-31 41 21 7
2016-09-30 39 22 2
2016-06-30 38 23 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Landmark Infrastructure Partners's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Landmark Infrastructure Partners's revenue is expected to grow by 7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:LMRK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Landmark Infrastructure Partners Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:LMRK Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.64 0.78 0.53 4.00
2019-12-31 0.51 0.55 0.43 4.00
NasdaqGM:LMRK Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 4.11
2018-12-31 4.17
2018-09-30 18.96
2018-06-30 1.39
2018-03-31 0.63
2017-12-31 0.53
2017-09-30 0.55
2017-06-30 0.53
2017-03-31 0.51
2016-12-31 0.41
2016-09-30 0.17
2016-06-30 0.12

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Landmark Infrastructure Partners will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Landmark Infrastructure Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Landmark Infrastructure Partners has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

LMRK Past Performance

  How has Landmark Infrastructure Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Landmark Infrastructure Partners's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Landmark Infrastructure Partners has delivered over 20% year on year earnings growth in the past 5 years.
  • Landmark Infrastructure Partners's 1-year earnings growth exceeds its 5-year average (609.1% vs 79.4%)
  • Landmark Infrastructure Partners's earnings growth has exceeded the US Real Estate industry average in the past year (609.1% vs -15.8%).
Earnings and Revenue History
Landmark Infrastructure Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Landmark Infrastructure Partners Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:LMRK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 63.47 103.54 4.51
2018-12-31 64.82 104.38 4.73
2018-09-30 64.59 116.72 4.54
2018-06-30 60.47 16.51 5.23
2018-03-31 56.48 14.60 5.58
2017-12-31 52.63 12.10 5.29
2017-09-30 49.76 12.42 5.25
2017-06-30 46.31 11.05 4.46
2017-03-31 42.99 9.62 4.06
2016-12-31 41.17 7.10 3.76
2016-09-30 39.04 2.50 3.59
2016-06-30 38.00 1.73 3.42
2016-03-31 38.18 3.20 3.04
2015-12-31 33.60 0.74 2.92
2015-09-30 33.64 -9.33 2.35
2015-06-30 29.22 -6.83 1.93
2015-03-31 24.85 -5.59 1.79
2014-12-31 25.14 -2.70 0.82
2014-09-30 16.91 4.62 0.76
2014-06-30 15.78 3.25 1.01
2014-03-31 13.48 3.73 0.57
2013-12-31 17.40 0.00 0.72
2012-12-31 6.78 1.52 0.19

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Landmark Infrastructure Partners has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Landmark Infrastructure Partners used its assets more efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Landmark Infrastructure Partners's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Landmark Infrastructure Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Landmark Infrastructure Partners has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

LMRK Health

 How is Landmark Infrastructure Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Landmark Infrastructure Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Landmark Infrastructure Partners is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Landmark Infrastructure Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Landmark Infrastructure Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Landmark Infrastructure Partners Company Filings, last reported 1 month ago.

NasdaqGM:LMRK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 382.85 396.30 8.47
2018-12-31 384.99 379.09 8.70
2018-09-30 398.46 366.23 6.91
2018-06-30 304.53 526.22 9.77
2018-03-31 263.18 530.52 10.50
2017-12-31 254.36 491.25 12.35
2017-09-30 244.45 444.80 13.40
2017-06-30 238.52 391.34 7.46
2017-03-31 240.03 356.98 9.47
2016-12-31 244.33 337.31 2.71
2016-09-30 193.33 296.10 3.35
2016-06-30 146.35 224.23 5.73
2016-03-31 129.99 232.28 0.41
2015-12-31 157.36 307.96 1.98
2015-09-30 129.46 166.72 0.27
2015-06-30 137.31 72.89 0.42
2015-03-31 96.69 98.06 0.27
2014-12-31 149.19 142.68 0.31
2014-09-30 101.07 75.12 1.57
2014-06-30 39.19 89.02 0.28
2014-03-31 40.38 89.34 0.74
2013-12-31 87.34 89.53 1.04
2012-12-31 59.32 68.32 25.25
  • Landmark Infrastructure Partners's level of debt (103.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (221.3% vs 103.5% today).
  • Debt is not well covered by operating cash flow (7%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Landmark Infrastructure Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Landmark Infrastructure Partners has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

LMRK Dividends

 What is Landmark Infrastructure Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.15%
Current annual income from Landmark Infrastructure Partners dividends. Estimated to be 9.2% next year.
If you bought $2,000 of Landmark Infrastructure Partners shares you are expected to receive $183 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Landmark Infrastructure Partners's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Landmark Infrastructure Partners's dividend is above the markets top 25% of dividend payers in United States of America (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:LMRK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:LMRK Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.48 5.00
2019-12-31 1.47 5.00
NasdaqGM:LMRK Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-22 1.470 9.294
2019-02-20 1.470 9.660
2018-10-26 1.470 10.891
2018-07-19 1.470 10.841
2018-04-19 1.470 10.429
2018-01-24 1.470 8.649
2017-10-18 1.430 8.128
2017-07-19 1.420 8.382
2017-04-21 1.410 8.859
2017-01-25 1.400 9.137
2016-10-26 1.350 8.942
2016-07-27 1.330 7.544
2016-04-20 1.320 8.344
2016-01-29 1.300 8.854
2015-10-23 1.270 8.877
2015-07-22 1.230 7.975
2015-04-24 1.190 7.247
2015-01-26 1.150 6.569

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Landmark Infrastructure Partners has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Landmark Infrastructure Partners only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Landmark Infrastructure Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Landmark Infrastructure Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Landmark Infrastructure Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Landmark Infrastructure Partners has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

LMRK Management

 What is the CEO of Landmark Infrastructure Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tim Brazy
AGE 59
TENURE AS CEO 5.3 years
CEO Bio

Mr. Arthur P. Brazy, Jr. also known as Tim, serves as the Chief Executive Officer of Landmark Dividend LLC and served as its President since co-founding Landmark Dividend LLC in February 2010, and as a member of the board of managers of Landmark Dividend Holdings LLC and its predecessor since February 2010. Mr. Brazy has been the Chief Executive Officer of Landmark Infrastructure Partners GP LLC, a general partner of Landmark Infrastructure Partners LP since July 2014. He served as President of Atherton Capital Incorporated. He has more than 25 years of experience in the real estate, financial services and investment industries. Most recently, Mr. Brazy was Founder and served as Chief Executive Officer of Church Mortgage Acceptance Co., LLC (“CMAC”), one of the leading direct lenders to churches in the country. From 2001 to 2006, he served as Chief Executive Officer of Lakefront Ventures LLC. During the 1990s, Mr. Brazy founded and led a series of private investment partnerships that raised and provided more than $5 billion of financing to small businesses and commercial real estate owners nationwide. He was an Officer of Eastdil Realty, a diversified real estate investment bank owned by Wells Fargo. At Eastdil, he was responsible for advisory assignments and major property debt and equity capital placements totaling more than $1 billion on a wide variety of existing and to-be-built properties including office buildings, hotels, shopping centers and industrial projects. He has been a Director of Landmark Infrastructure Partners GP LLC, a general partner of Landmark Infrastructure Partners LP since July 2014. Mr. Brazy received a B.S. degree in Economics from the California Institute of Technology, pursued further graduate studies as a fellow at Oxford University and received an M.B.A. from the Graduate School of Business at Stanford University. Mr. Brazy founded and led numerous private investment partnerships including Atherton Capital.

CEO Compensation
  • Insufficient data for Tim to compare compensation growth.
  • Insufficient data for Tim to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Landmark Infrastructure Partners management team in years:

5.3
Average Tenure
51
Average Age
  • The average tenure for the Landmark Infrastructure Partners management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tim Brazy

TITLE
CEO & Director of Landmark Infrastructure Partners GP LLC
AGE
59
TENURE
5.3 yrs

George Doyle

TITLE
CFO & Treasurer of Landmark Infrastructure Partners GP LLC
AGE
48
TENURE
5.3 yrs

Dan Parsons

TITLE
Senior VP of Information Systems & Technology of Landmark Infrastructure Partners GP LLC
AGE
54
TENURE
4.8 yrs

Marcelo Choi

TITLE
Vice President

Josef Bobek

TITLE
General Counsel & Secretary of Landmark Infrastructure Partners GP LLC
AGE
43
Board of Directors Tenure

Average tenure and age of the Landmark Infrastructure Partners board of directors in years:

4.9
Average Tenure
52
Average Age
  • The tenure for the Landmark Infrastructure Partners board of directors is about average.
Board of Directors

Matt Carbone

TITLE
Chairman of the Board of Landmark Infrastructure Partners GP LLC
AGE
52
TENURE
5.3 yrs

Tim Brazy

TITLE
CEO & Director of Landmark Infrastructure Partners GP LLC
AGE
59
TENURE
5.3 yrs

Thomas White

TITLE
Director of Landmark Infrastructure Partners GP LLC
COMPENSATION
$96K
AGE
52
TENURE
4.5 yrs

James Brown

TITLE
Director of Landmark Infrastructure Partners GP LLC
AGE
53
TENURE
5.3 yrs

Edmond Leung

TITLE
Director of Landmark Infrastructure Partners GP LLC
AGE
37
TENURE
5.3 yrs

Gerry Tywoniuk

TITLE
Director of Landmark Infrastructure Partners GP LLC
COMPENSATION
$90K
AGE
57
TENURE
4.3 yrs

Nandit Gandhi

TITLE
Director of Landmark Infrastructure Partners GP LLC
AGE
50
TENURE
3.3 yrs

Keith Benson

TITLE
Independent Director of Landmark Infrastructure Partners GP LLC
AGE
45
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
26. Feb 19 Sell Gerald Tywoniuk Individual 22. Feb 19 22. Feb 19 -1,913 $14.50 $-27,739
28. Dec 18 Buy Arthur Brazy Individual 27. Dec 18 27. Dec 18 2,447 $10.72 $26,232
27. Dec 18 Buy Arthur Brazy Individual 26. Dec 18 26. Dec 18 2,200 $11.29 $24,838
26. Dec 18 Buy Arthur Brazy Individual 21. Dec 18 21. Dec 18 2,550 $11.69 $29,810
14. Nov 18 Buy Arthur Brazy Individual 09. Nov 18 09. Nov 18 19,000 $12.59 $239,210
05. Oct 18 Buy Matthew Carbone Individual 04. Oct 18 04. Oct 18 14,000 $14.10 $197,400
02. Oct 18 Buy Arthur Brazy Individual 28. Sep 18 28. Sep 18 8,100 $13.79 $111,699
28. Sep 18 Buy Arthur Brazy Individual 27. Sep 18 27. Sep 18 4,550 $13.95 $63,473
27. Sep 18 Buy Arthur Brazy Individual 26. Sep 18 26. Sep 18 1,748 $13.60 $23,773
12. Jun 18 Buy George Doyle Individual 11. Jun 18 11. Jun 18 850 $13.50 $11,475
06. Jun 18 Buy George Doyle Individual 04. Jun 18 04. Jun 18 600 $13.48 $8,088
05. Jun 18 Buy Arthur Brazy Individual 01. Jun 18 01. Jun 18 8,800 $13.23 $116,424
04. Jun 18 Buy George Doyle Individual 31. May 18 31. May 18 1,400 $13.30 $18,608
04. Jun 18 Buy Arthur Brazy Individual 31. May 18 31. May 18 1,200 $13.29 $15,948
X
Management checks
We assess Landmark Infrastructure Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Landmark Infrastructure Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

LMRK News

Simply Wall St News

Is Landmark Infrastructure Partners LP (NASDAQ:LMRK) A Financially Sound Company?

Landmark Infrastructure Partners LP (NASDAQ:LMRK) is a small-cap stock with a market capitalization of US$345.08m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Assessing first and foremost the financial health is

Simply Wall St -

Why Landmark Infrastructure Partners LP (NASDAQ:LMRK) Is An Attractive Stock On Right Now

Landmark Infrastructure Partners LP (NASDAQ:LMRK) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of LMRK, it

Simply Wall St -

Should You Be Tempted To Sell Landmark Infrastructure Partners LP (NASDAQ:LMRK) Because Of Its PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for LMRK Price per share = $13.45 Earnings per share = $0.626 ∴ Price-Earnings Ratio = $13.45 ÷ $0.626 = 21.5x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … LMRK’s P/E of 21.5x is higher than its industry peers (9.4x), which implies that each dollar of LMRK’s earnings is being overvalued by investors. … For example, if you are inadvertently comparing riskier firms with LMRK, then LMRK’s P/E would naturally be higher than its peers since investors would reward its lower risk with a higher price.

Simply Wall St -

Landmark Infrastructure Partners LP (NASDAQ:LMRK) Is Trading At A 45% Discount

5-year cash flow estimate 2018 2019 2020 2021 2022 Levered FCF ($, Millions) $44.00 $58.00 $68.44 $80.07 $92.89 Source Analyst x1 Analyst x1 Extrapolated @ (18%, capped from 28.51%) Extrapolated @ (17%, capped from 28.51%) Extrapolated @ (16%, capped from 28.51%) Present Value Discounted @ 14.07% $38.57 $44.58 $46.11 $47.30 $48.10 Present Value of 5-year Cash Flow (PVCF)= $225 We now need to calculate the Terminal Value, which accounts for all the future cash flows after the five years. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = $93 × (1 + 2.5%) ÷ (14.1% – 2.5%) = $821 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = $821 / ( 1 + 14.1%)5 = $425 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is $650. … NasdaqGM:LMRK Intrinsic Value May 15th 18 Important assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

What You Must Know About Landmark Infrastructure Partners LP's (NASDAQ:LMRK) 7.58% ROE

Check out our latest analysis for Landmark Infrastructure Partners Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) weighs Landmark Infrastructure Partners’s profit against the level of its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of Landmark Infrastructure Partners’s equity capital deployed. … Given a discrepancy of -7.02% between return and cost, this indicated that Landmark Infrastructure Partners may be paying more for its capital than what it’s generating in return.

Simply Wall St -

Who Owns Landmark Infrastructure Partners LP (NASDAQ:LMRK)?

In this analysis, my focus will be on developing a perspective on Landmark Infrastructure Partners LP’s (NASDAQ:LMRK) latest ownership structure, a less discussed, but important factor. … Insider Ownership Insiders form another group of important ownership types as they manage the company's operations and decide the best use of capital. … Private Company Ownership Another important group of owners for potential investors in LMRK are private companies that hold a stake of 0.26% in LMRK.

Simply Wall St -

What does Landmark Infrastructure Partners LP's (NASDAQ:LMRK) Balance Sheet Tell Us About Its Future?

Moreover, LMRK has generated cash from operations of US$28.47M in the last twelve months, leading to an operating cash to total debt ratio of 5.80%, signalling that LMRK’s current level of operating cash is not high enough to cover debt. … Looking at LMRK’s most recent US$7.08M liabilities, the company has maintained a safe level of current assets to meet its obligations, with the current ratio last standing at 5.21x. … For LMRK, the ratio of 2.12x suggests that interest is not strongly covered, which means that lenders may refuse to lend the company more money, as it is seen as too risky in terms of default.Next Steps: LMRK’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

Is It Too Late To Buy Landmark Infrastructure Partners LP (NASDAQ:LMRK)?

A question to answer is whether Landmark Infrastructure Partners's current trading price of $16.55 reflective of the actual value of the small-cap? … Let’s take a look at Landmark Infrastructure Partners’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … LMRK’s optimistic future growth appears to have been factored into the current share price, with shares trading above its fair value.

Simply Wall St -

Is Landmark Infrastructure Partners LP (NASDAQ:LMRK) A Sell At Its Current PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for LMRK Price per share = $16.5 Earnings per share = $0.53 ∴ Price-Earnings Ratio = $16.5 ÷ $0.53 = 31.2x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … For example, if you inadvertently compared riskier firms with LMRK, then investors would naturally value LMRK at a higher price since it is a less risky investment. … Similarly, if you accidentally compared lower growth firms with LMRK, investors would also value LMRK at a higher price since it is a higher growth investment.

Simply Wall St -

Only 3 Days Left To Cash In On Landmark Infrastructure Partners LP (NASDAQ:LMRK) Dividend, Should You Buy?

Important news for shareholders and potential investors in Landmark Infrastructure Partners LP (NASDAQ:LMRK): The dividend payment of $0.37 per share will be distributed into shareholder on 14 February 2018, and the stock will begin trading ex-dividend at an earlier date, 02 February 2018. … Check out our latest analysis for Landmark Infrastructure Partners How I analyze a dividend stock When researching a dividend stock, I always follow the following screening criteria: Does it pay an annual yield higher than 75% of dividend payers? … Next Steps: After digging a little deeper into Landmark Infrastructure Partners's yield, it's easy to see why you should be cautious investing in the company just for the dividend.

Simply Wall St -

LMRK Company Info

Description

Landmark Infrastructure Partners LP acquires, develops, owns, and manages a portfolio of real property interests and infrastructure assets in the United States. The company leases its real property interests and infrastructure assets to companies operating in the wireless communication, outdoor advertising, and renewable power generation industries. It also owns various interests in receivables associated with related assets. Landmark Infrastructure Partners GP LLC serves as the general partner of the company. The company was founded in 2014 and is based in El Segundo, California.

Details
Name: Landmark Infrastructure Partners LP
LMRK
Exchange: NasdaqGM
Founded: 2014
$406,935,217
25,338,432
Website: http://www.landmarkmlp.com
Address: Landmark Infrastructure Partners LP
400 Continental Boulevard,
Suite 500,
El Segundo,
California, 90245,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM LMRK Common Units Nasdaq Global Market US USD 14. Nov 2014
Number of employees
Current staff
Staff numbers
0
Landmark Infrastructure Partners employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 06:29
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/13
Last earnings filing: 2019/05/01
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.