• Landmark Acquires 13 more out of home sites.

    Landmark Infrastructure acquired 13 more out of home advertising sites during the 3rd quarter of 2017 (3 months ended September 30, 2017).  Here are the results from the third quarter earnings release and Seeking Alpha earnings transcript.

    • Revenues and net income totaled $13.5 million and $1.9 million, respectively, during the 3rd quarter of 2017 up from $10.1 million and $472,000, respectively, during the 3rd quarter of 2016.
    • Landmark acquired 13 more out of home advertising sites during the third quarter of 2017.  Landmark’s acquisitions during the quarter, however, were concentrated in wireless tower sites:

    Landmark Acquisitions During 3rd Quarter 2017


    One, the strength of the economy definitely helps. That increases the overall outdoor advertising spend. The other thing that’s helping is just the digitalization of outdoor signage. And you are seeing this on, certainly, the large bulletin boards that we acquire. You’ve seen a lot of those transition over to digital format in the last, call it, four or five years. But you’re also seeing a lot of smart cities type deployments, where you’re getting a lot of, I would say, smaller format type digital infrastructure, but it’s a connected type infrastructure. So, it’s also providing Wi-Fi. It’s also gathering data on the – basically, the individuals that are walking around it. So, it’s more of a targeted advertising type deployment, and that’s certainly driving outdoor advertising as well. And we expect that to continue in the future as we get more and more connected as a society.

    Insider’s take:  Out of home acquisition activity is slowing at Landmark.  Landmark has been approaching independent out of home advertising companies with a secured lending product in which it makes a long term fixed rate loan secured by leases or easements.  Landmark as a secured lender is much less threatening than Landmark as a landlord.

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