NLCP reports $0.47 FFO in line with expectations but revenue misses by $0.16M amid a 6.4% year-over-year decline.
NewLake Capital Partners posted second-quarter funds from operations of $0.47 per share, matching analyst estimates. Revenue reached $12.1 million, missing expectations by $0.16 million and declining 6.4% year-over-year.
The company reported net income attributable to common stockholders of $5.9 million, or $0.29 per share. Adjusted funds from operations were also disclosed but not quantified in the release.
Shares showed limited movement in after-hours trading as the FFO alignment offset the revenue miss.