Overview

* NewLake Capital ( NLCP ) 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/Mis Actual Consensu

s s

Estimate

Q3 Beat $12.60 $11.81

Revenue mln mln (2

Analysts

)

Q3 Net $6.70

Income mln

Q3 Beat $11 mln $0.47 (2

Adjusted Analysts

FFO )

Q3 FFO $10.70

mln

Q3 $0.43

Dividend

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 ( NLCP ) 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:

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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.)