NewLake Capital Q1 revenue falls 6.8% but beats estimates

Newlake Capital Partners

07/05/2026 22:40

Overview

US cannabis real estate lender's Q1 revenue fell 6.8% yr/yr but beat analyst expectations

Q1 adjusted funds from operations also beat analyst expectations despite yr/yr decline

Company attributed declines to vacancies at three properties and higher carrying costs

Outlook

Company did not provide specific financial guidance for the current or future periods

Result Drivers

PROPERTY VACANCIES - Co said lower revenue and AFFO were primarily due to vacancies at three cultivation facilities and related carrying costs

NEW RENTAL INCOME - Full quarter of rental income from two Ohio dispensaries acquired in 2025 and annual rent escalators partially offset revenue decline

RENT COLLECTION - Co reported 100% collection of contractual rent during the period, per CEO Anthony Coniglio

Company press release: ID:nGNX7Tn2QN

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$12.30 mln
$11.85 mln (3 Analysts)
Q1 Net Income
$5.77 mln
Q1 Adjusted FFO
$10.09 mln
Q1 FFO
$9.73 mln
Q1 Dividend
$0.43


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the real estate rental, development & operations peer group is "buy"

Wall Street's median 12-month price target for Newlake Capital Partners Inc is $15.50, about 6.9% above its May 6 closing price of $14.50

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)