LMRK - Landmark Infrastructure: The Slippery Slope Of Bad Coverage

When we last covered Landmark Infrastructure Partners LP (LMRK), we worked out some detailed calculations to show that the distribution had rather poor coverage currently. We showed this working from the last quarter's report and calculated that the "raw" coverage ratio was in the low 80s.

Source: Landmark: Distribution Coverage And The Bridge In Brooklyn

We further extrapolated that barring a big equity raise at a significantly higher price, which would allow for accretive acquisitions, there was no way the distribution would be completely covered even three years from the time of writing

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