LMRK - Landmark Infrastructure Partners: An Undervalued Story Of Magnificent Transformation And Growth
Investment Thesis
Over the last year, Landmark Infrastructure Partners have undergone a period of profound transformation during which the company considerably reduced indebtedness and made a progress towards full dividend coverage. The company has long financed its operations by a significant amount of debt for which it has been several times criticized (notably by Daniel Shvartsman and Trapping Value here and here). This period, however, seems to be over and the company is now fully financed by its cash from operations.
Corporate profile and recent history
Originally a MLP, Landmark Infrastructure Partners (NASDAQ:LMRK