Landmark announces third quarter 2016 Financials

Landmark logoLandmark Infrastructure has announced third quarter 2016 financials.  Here are the highlights of the firm’s press release and webcast.

  • Third quarter revenue increased by 59% to 8.8% million due to acquisitions.
  • Third quarter adjusted EBIDTA increased by 63% to $8.3 million.
  • billboard-insider-finance-logoThe company has been busy raising capital for acquisitions.  In August Landmark raised $46 million in 7.9% preferred units to raise capital for acquisitions  In October Landmark raised $56 million of common stock.  Most of the effort, however is going towards cellular and solar power site acquisitions.
  • At September 2016 Landmark had an investment in 394 outdoor advertising locations with a remaining average life of 13 years.   Average monthly rent per location was $1,739.  Some locations have more than one billboard.  Insider calculates the average monthly rent per billboard at $1,345.
  • The company took $1.2 million in impairment charges during the quarter.  The company’s CFO said that impairment charges involved some wireless towers and a couple small billboards where the company was given a termination notice on a lease.

Insider’s take:  Looks like Landmark is focusing on large urban and freeway billboard sites.  Most small rural billboard sites have rents well below $1,245 per m0nth.  Insider has heard that Landmark isn’t interested in purchasing billboard sites with less than $300/month in lease revenue.

 

 

 


Paid Ad

impact-otr-dallas-only-bb-insider

 

Print Friendly, PDF & Email

Comments are closed.