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NewLake Capital Q3 revenue misses estimates on rental income loss

By Reuters News


Overview

  • US cannabis real estate lender's Q3 revenue fell 4.5% yr/yr, missing analyst expectations

  • Adjusted FFO for Q3 beat analyst expectations

  • Revenue decline driven by loss of rental income from three properties available for lease


Outlook

  • Company did not provide specific financial guidance for upcoming quarters or full year in its press release


Result Drivers

  • RENTAL INCOME LOSS - Co said revenue and AFFO declines were primarily due to loss of rental income from three properties available for lease

  • NEW ACQUISITIONS - Rental income from newly acquired dispensary properties and rent escalations partially offset declines

  • PROPERTY CARRYING COSTS - Additional carrying costs for properties available for lease contributed to AFFO decline


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$12 mln

$12.14 mln (3 Analysts)

Q3 Net Income

$4.2 mln

Q3 Adjusted FFO

Beat

$10.3 mln

$0.48 (3 Analysts)

Q3 FFO

$10 mln

Q3 Dividend

$0.43


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "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 $17.50, about 27.3% above its November 3 closing price of $13.75

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


Reuters Recommended Reads

  • Nov 4 - Chiron Real Estate Q3 net loss widens, Core FFO falls

  • Nov 2 - Realty Income's Q3 revenue beats; raises 2026 AFFO per share outlook

  • Nov 4 - Global Net Lease Q3 revenue falls on asset sales


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.)

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