LMRK - Landmark Infrastructure upgraded to Neutral by Wells Fargo on Colony deal

Landmark Infrastructure (LMRK) gains 2.0% in premarket trading after Wells Fargo analyst Eric Luebchow upgrades the stock to Equal Weight from Underweight after Digital Colony proposes acquiring Landmark Dividend, which owns LMRK's general partner."We view the acquisition as an attractive exit for shareholders who previously were tied to a LMRK story with limited organic growth opportunity, hindered by higher leverage, and had a reliance on dropdown acquisitions from its sponsor entity that had lower return yields than where we estimated the company was trading standalone," Luebchow writes in a note.Believes Landmark's assets and development initiatives would be "better situated under the CLNY umbrella."See why SA contributor Trapping Value expects a higher bid from Colony.

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Landmark Infrastructure upgraded to Neutral by Wells Fargo on Colony deal