LMRKN - For A Triple-Net Lease REIT Landmark Isn't The Worst Inflation Hedge

• The Fed announcement yesterday has made something very clear: easing is our mandate.
• Inflation might be under control in consumer prices, where it's already impacted asset prices with retail money pouring in, but if it's not it could kill a portfolio.
• Triple-net lease REITs aren't necessarily bad, but many would be if they have long duration leases with small built-in escalators.
• Landmark has some CPI-indexed leases, but they benefit mainly from quite short leases on outdoor assets as well as revenue sharing schemes.
• Overall, not bad for the yield prospects despite being a triple-net REIT.

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