Overview
NewLake Capital Q3 revenue grows 0.3% yr/yr, beating analyst expectations
Adjusted FFO for Q3 beats consensus, totaling $11.0 mln
Net income for Q3 rises to $6.7 mln from $6.4 mln yr/yr
Outlook
Company did not provide specific guidance for future quarters or full year in the statement
Result Drivers
TENANT MANAGEMENT - Co focused on proactive tenant management to maintain balance sheet strength, per CEO Anthony Coniglio
RENTAL INCOME CHALLENGES - Co faced rental income challenges due to tenant restructuring and vacating properties
INVESTMENT ACTIVITY - Co completed acquisitions and a like-kind exchange, impacting operational results
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$12.60 mln
$11.81 mln (2 Analysts)
Q3 Net Income
$6.70 mln
Q3 Adjusted FFO
Beat
$11 mln
$0.47 (2 Analysts)
Q3 FFO
$10.70 mln
Q3 Dividend
$0.43
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "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 $15.00, about 13.2% above its November 4 closing price of $13.02
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
Press Release: ID:nGNX2fzwhs
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(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.)
