NasdaqGM:LMRK

Stock Analysis Report

Landmark Infrastructure Partners

Executive Summary

Landmark Infrastructure Partners LP acquires, develops, owns, and manages a portfolio of real property interests and infrastructure assets in the United States.

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has Landmark Infrastructure Partners's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: LMRK has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

6.6%

LMRK

1.6%

US Real Estate

-0.3%

US Market


1 Year Return

23.9%

LMRK

19.2%

US Real Estate

18.6%

US Market

Return vs Industry: LMRK exceeded the US Real Estate industry which returned 19.2% over the past year.

Return vs Market: LMRK exceeded the US Market which returned 18.6% over the past year.


Shareholder returns

LMRKIndustryMarket
7 Day6.6%1.6%-0.3%
30 Day1.4%7.2%2.2%
90 Day4.2%11.3%5.6%
1 Year35.5%23.9%20.2%19.2%21.1%18.6%
3 Year58.9%20.9%27.6%24.5%45.6%36.2%
5 Year38.5%-9.3%18.7%14.8%71.1%52.2%

Price Volatility Vs. Market

How volatile is Landmark Infrastructure Partners's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Landmark Infrastructure Partners undervalued compared to its fair value and its price relative to the market?

29.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: LMRK ($16.75) is trading below our estimate of fair value ($23.8)

Significantly Below Fair Value: LMRK is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: LMRK is poor value based on its PE Ratio (82.6x) compared to the Real Estate industry average (25.1x).

PE vs Market: LMRK is poor value based on its PE Ratio (82.6x) compared to the US market (18.5x).


Price to Earnings Growth Ratio

PEG Ratio: LMRK is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: LMRK is good value based on its PB Ratio (1.1x) compared to the US Real Estate industry average (1.5x).

Future Growth

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

60.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LMRK's forecast earnings growth (60.3% per year) is above the savings rate (1.7%).

Earnings vs Market: LMRK's earnings (60.3% per year) are forecast to grow faster than the US market (14.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: LMRK's revenue (9.3% per year) is forecast to grow faster than the US market (7.4% per year).

High Growth Revenue: LMRK's revenue (9.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if LMRK's Return on Equity is forecast to be high in 3 years time

Past Performance

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

70.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LMRK has a large one-off gain of $16.5M impacting its September 30 2019 financial results.

Growing Profit Margin: LMRK's current net profit margins (8.7%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: LMRK's earnings have grown significantly by 70% per year over the past 5 years.

Accelerating Growth: LMRK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: LMRK had negative earnings growth (-95.6%) over the past year, making it difficult to compare to the Real Estate industry average (-25%).


Return on Equity

High ROE: LMRK's Return on Equity (4.9%) is considered low.


Return on Assets


Return on Capital Employed

Financial Health

How is Landmark Infrastructure Partners's financial position?


Financial Position Analysis

Short Term Liabilities: LMRK's short term assets ($23.7M) exceed its short term liabilities ($9.3M).

Long Term Liabilities: LMRK's short term assets ($23.7M) do not cover its long term liabilities ($422.8M).


Debt to Equity History and Analysis

Debt Level: LMRK's debt to equity ratio (107.4%) is considered high.

Reducing Debt: LMRK's debt to equity ratio has increased from 74.7% to 107.4% over the past 5 years.

Debt Coverage: LMRK's debt is not well covered by operating cash flow (5.5%).

Interest Coverage: LMRK's interest payments on its debt are not well covered by EBIT (1.1x coverage).


Balance Sheet

Inventory Level: LMRK has a high level of physical assets or inventory.

Debt Coverage by Assets: LMRK's debt is not covered by short term assets (assets are 0.1x debt).

Dividend

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

8.78%

Current Dividend Yield


Dividend Yield vs Market

company8.8%marketbottom25%1.4%markettop25%3.7%industryaverage2.1%forecastin3Years8.9%

Current dividend yield vs market & industry

Notable Dividend: LMRK's dividend (8.78%) is higher than the bottom 25% of dividend payers in the US market (1.42%).

High Dividend: LMRK's dividend (8.78%) is in the top 25% of dividend payers in the US market (3.7%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, LMRK has been paying a dividend for less than 10 years.

Growing Dividend: LMRK's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (724.7%), LMRK's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

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

5.9yrs

Average management tenure


CEO

Tim Brazy (60yo)

5.9yrs

Tenure

0

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 mem ...


Management Age and Tenure

5.9yrs

Average Tenure

52yo

Average Age

Experienced Management: LMRK's management team is seasoned and experienced (5.9 years average tenure).


Board Age and Tenure

5.9yrs

Average Tenure

53yo

Average Age

Experienced Board: LMRK's board of directors are considered experienced (5.9 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$27,73926 Feb 19
Gerald Tywoniuk
EntityIndividual
Role
Member of the Board of Directors
Director of Landmark Infrastructure Partners GP LLC
Shares1,913
Max PriceUS$14.50
BuyUS$26,23228 Dec 18
Arthur Brazy
EntityIndividual
Role
Chief Executive Officer
CEO & Director of Landmark Infrastructure Partners GP LLC
Shares2,447
Max PriceUS$10.72
BuyUS$24,83827 Dec 18
Arthur Brazy
EntityIndividual
Role
Chief Executive Officer
CEO & Director of Landmark Infrastructure Partners GP LLC
Shares2,200
Max PriceUS$11.29
BuyUS$29,81026 Dec 18
Arthur Brazy
EntityIndividual
Role
Chief Executive Officer
CEO & Director of Landmark Infrastructure Partners GP LLC
Shares2,550
Max PriceUS$11.69

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.5%.


Management Team

  • Tim Brazy (60yo)

    CEO & Director of Landmark Infrastructure Partners GP LLC

    • Tenure: 5.9yrs
  • George Doyle (49yo)

    CFO & Treasurer of Landmark Infrastructure Partners GP LLC

    • Tenure: 5.9yrs
  • Marcelo Choi

    Vice President

    • Tenure: 0yrs
  • Dan Parsons (55yo)

    Senior VP of Information Systems & Technology of Landmark Infrastructure Partners GP LLC

    • Tenure: 5.3yrs
  • Josef Bobek (44yo)

    General Counsel & Secretary of Landmark Infrastructure Partners GP LLC

    • Tenure: 0yrs

Board Members

  • James Brown (54yo)

    Director of Landmark Infrastructure Partners GP LLC

    • Tenure: 5.9yrs
  • Gerry Tywoniuk (58yo)

    Director of Landmark Infrastructure Partners GP LLC

    • Tenure: 4.9yrs
    • Compensation: US$90.00k
  • Tim Brazy (60yo)

    CEO & Director of Landmark Infrastructure Partners GP LLC

    • Tenure: 5.9yrs
  • Matt Carbone (53yo)

    Chairman of the Board of Landmark Infrastructure Partners GP LLC

    • Tenure: 5.9yrs
  • Edmond Leung (38yo)

    Director of Landmark Infrastructure Partners GP LLC

    • Tenure: 5.9yrs
  • Keith Benson (46yo)

    Independent Director of Landmark Infrastructure Partners GP LLC

    • Tenure: 1.1yrs
  • Thomas White (53yo)

    Director of Landmark Infrastructure Partners GP LLC

    • Tenure: 5.1yrs
    • Compensation: US$96.00k

Company Information

Landmark Infrastructure Partners LP's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Landmark Infrastructure Partners LP
  • Ticker: LMRK
  • Exchange: NasdaqGM
  • Founded: 2010
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: US$409.453m
  • Shares outstanding: 25.35m
  • Website: https://www.landmarkmlp.com

Location

  • Landmark Infrastructure Partners LP
  • 400 Continental Boulevard
  • Suite 500
  • El Segundo
  • California
  • 90245
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LMRKNasdaqGM (Nasdaq Global Market)YesCommon UnitsUSUSDNov 2014

Biography

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 interes ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/07 00:44
End of Day Share Price2019/12/06 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.