NewLake Capital Q2 Revenue Falls 6.5% as Vacancies Bite
NLCP sits 32% above its 52-week low of $12.09.
Summary
Q2 revenue dropped 6.5% year-over-year to $12.1M, slightly above the $12M consensus but pressured by three vacant properties. Adjusted FFO came in at $10.3M, or $0.49 per share, while the company maintained its $0.43 dividend. The 100% rent collection rate offers some stability, but the vacancy-driven revenue decline follows a 6.8% Q1 drop and tenant restructuring flagged in May. With no guidance provided, the key question is whether those three properties get leased or sold — continued vacancy would further erode the top line.
At the time of this announcement, NLCP was trading at $15.91 on OTC in the Real Estate & Construction sector, with a market capitalization of approximately $327.3M. The 52-week trading range was $12.09 to $16.75. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.