B.Riley FBR analyst Liam Burke maintained a Buy rating on Landmark Infrastructure (LMRK) yesterday and set a price target of $20. The company’s shares opened today at $14.55.
Burke wrote:
“Landmark Infrastructure Partners LP (LMRK) has made adjustments to its growth strategy and unit distribution policy, which should generate higher long-term returns for unit holders while still yielding over 10%. Results for 4Q18 reflect a narrowing of the gap between distributable free cash flow and cash distributions, which should reach a coverage ratio of 1.0x in the second half of 2019.The company should continue to grow its core real estate assets but at a slower pace by eliminating drop downs and making limited external acquisitions while developing additional infrastructure assets such as FlexGrid. The company has deployed about $25 million in capital towards the build-out of FlexGrid assets and the partnership is expecting initial rent payments during the second half of 2019.”
According to TipRanks.com, Burke is a 1-star analyst with an average return of -2.2% and a 48.9% success rate. Burke covers the Services sector, focusing on stocks such as Ship Finance International, Dynagas LNG Partners LP, and Scorpio Tankers Inc.
Currently, the analyst consensus on Landmark Infrastructure is a Moderate Buy with an average price target of $18.50.
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Landmark Infrastructure’s market cap is currently $364.3M and has a P/E ratio of 3.34. The company has a Price to Book ratio of 0.86.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LMRK in relation to earlier this year.
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Landmark Infrastructure Partners LP engages in the acquisition, ownership, and management of portfolio of real property interests. It operates through the following business segments: Wireless Communication, Outdoor Advertising, and Renewable Power Generation.
