Welcome to our dedicated page for Newlake Capital news (Ticker: NLCP), a resource for investors and traders seeking the latest updates and insights on Newlake Capital stock.
NewLake Capital Partners, Inc. provides real estate capital to state-licensed cannabis operators and reports on a portfolio of cannabis-related properties leased to industry tenants. News commonly covers quarterly and annual results, net income, funds from operations, adjusted funds from operations, common stock dividends, liquidity under its revolving credit facility and changes in gross real estate assets.
Company updates also address portfolio investment activity, including dispensary property acquisitions and improvement commitments, tenant credit developments, and management participation in cannabis regulation, net lease real estate and investor conferences. Tenant disclosures focus on operators that lease NewLake properties and on how operator developments relate to the company's real estate capital platform.
NewLake Capital Partners (OTCQX: NLCP) has significantly expanded its five-year revolving credit facility from $30 million to $90 million, adding two new lenders. The facility, which matures in May 2027, offers a fixed interest rate of 5.65% for the initial three years, transitioning to a floating rate afterward. CEO Anthony Coniglio emphasized that this increase in capital access represents a competitive advantage amid market challenges, supporting the company’s continued investment in cannabis real estate.
NewLake Capital Partners (OTCQX: NLCP) will host a conference call on August 10, 2022, to discuss its second quarter financial results ending June 30, 2022. Interested parties can access the call at 10:00 a.m. Eastern Time via U.S. Toll-Free number or through an international line. A replay of the call will be available until August 24, 2022. NewLake is a real estate investment trust providing capital to cannabis operators and currently manages a portfolio of 31 cultivation and dispensary facilities, with two loans totaling $35 million.
NewLake Capital Partners (OTCQX: NLCP) has fully committed $50 million from its IPO capital, acquiring two operational cannabis cultivation properties in Pennsylvania and Nevada and amending an existing lease for an expansion. The acquisitions include a 38,000 sq. ft. facility in Pennsylvania for $14.5 million and a 56,500 sq. ft. facility in Nevada for $13.6 million. Additionally, $21 million was invested to expand existing facilities. NewLake's CEO highlighted the strategic partnership with a new publicly-traded MSO and the potential for growth in the U.S. cannabis market.
NewLake Capital Partners (OTCQX: NLCP), a provider of real estate capital for state-licensed cannabis operators, announced that President Anthony Coniglio will speak at the Force Family Office Cannabis Symposium on June 29, 2022. The symposium will feature a panel discussion on Cannabis Real Estate Investing, moderated by Owen Bennett from Jefferies. NewLake operates a portfolio of 28 cultivation facilities and dispensaries, offering capital through sale-leaseback transactions and loans. For details on one-on-one meetings, contact KCSA Strategic Communications.
NewLake Capital Partners (NLCP) announced a second quarter 2022 cash dividend of $0.35 per share, marking its fifth consecutive quarterly increase. This equates to an annual dividend of $1.40 per common share. The dividends will be distributed on July 15, 2022, to stockholders recorded by the close of business on June 30, 2022. NewLake Capital, a real estate investment trust, focuses on providing capital to state-licensed cannabis operators, owning 28 cultivation facilities and dispensaries under triple-net leases.
NewLake Capital Partners, a key provider of real estate capital for licensed cannabis operators, announced that its President, Anthony Coniglio, will participate in the Needham & Co. Debt Financing in the US Cannabis Industry webinar on June 16, 2022, at 10:30 a.m. ET. This event is hosted by Senior Cannabis Analyst Matt McGinley. After the webinar, interested parties can arrange one-on-one meetings with NewLake's management through a Needham representative or by contacting KCSA Strategic Communications.
NewLake owns 28 cultivation facilities and dispensaries, utilizing a triple-net lease model.
NewLake Capital Partners, Inc. (OTCQX: NLCP) announced the promotion of Anthony Coniglio to Chief Executive Officer, effective July 15, 2022. Coniglio, who has extensive experience in the cannabis real estate sector, was previously the President and Chief Investment Officer. This change aligns with a succession plan initiated during the Company's merger in March 2021. Current CEO David Weinstein will remain on the Board of Directors and Investment Committee, continuing to support the Company. The leadership transition aims to enhance growth in the dynamic cannabis industry.
NewLake Capital Partners (OTCQX: NLCP) announced that President Anthony Coniglio will speak at the Jefferies Cannabis Summit on June 2, 2022, at the InterContinental Barclay in New York City. Coniglio will participate in a panel discussion focused on Cannabis Debt Financing at 11:00 AM ET. NewLake specializes in providing capital to state-licensed cannabis operators through sale-leaseback transactions and has a portfolio of 28 properties leased on a triple-net basis. Investors interested in one-on-one meetings can contact their Jefferies representative or email KCSA Strategic Communications.
NewLake Capital Partners, Inc. (OTCQX: NLCP) announced the retirement of CFO Fred Starker, effective June 13, 2022, with Lisa Meyer appointed as his successor. Starker will assist with the transition under a consulting agreement until August 13, 2022. Lisa Meyer brings over 25 years of financial leadership experience, having previously served as CFO and President at Western Asset Mortgage Capital. The company emphasizes the exciting growth opportunities in the cannabis industry, positioning Meyer to further enhance their leadership in this sector.
NewLake Capital Partners (NLCP) reported a strong Q1 2022 with revenues of $10.2 million, marking a 13% increase sequentially and a remarkable 130% growth year-over-year. Net income attributable to common stockholders reached $5 million, up from $1.5 million the previous year. The company declared a dividend of $0.33 per share. For the full year, NLCP expects revenue between $42 million and $44 million. They also announced a $30 million revolving credit facility to support future growth and acquisitions.