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 acquired a 70,000-square-foot industrial property in Chaffee, Missouri, for $21.1 million, which includes a $5.1 million commitment for tenant improvements. The facility will be leased to Organic Remedies, a cannabis operator, as a cultivation and processing center. This acquisition marks NewLake's entry into Missouri, expanding its real estate portfolio to 11 states. CEO David Weinstein expressed optimism about the partnership and the growth potential in the state.
NewLake Capital Partners (NLCP) announced a fourth quarter 2021 cash dividend of $0.31 per share, marking a 29% increase from the previous quarter's annualized dividend of $0.96. The annualized dividend now totals $1.24 per share. This dividend will be payable on January 14, 2022, to shareholders who are on record as of December 31, 2021. NewLake focuses on providing real estate capital to state-licensed cannabis operators, owning a portfolio of 27 cultivation facilities and dispensaries.
NewLake Capital Partners has announced that Anthony Coniglio, President and Chief Investment Officer, will participate in the CannaVest West Third Annual Cannabis Investment Forum in San Francisco, CA on December 16-17, 2021. Coniglio will speak on the panel titled “Public vs. Private Cannabis Real Estate Investment Opportunities: Is the Juice Worth the Squeeze?” on December 16, from 4:15 PM to 5:00 PM PT. NewLake specializes in providing real estate capital to state-licensed cannabis operators through various transactions, owning a portfolio of 27 cannabis-related properties.
NewLake Capital Partners reported third quarter 2021 revenue of $8.1 million, marking a 22% sequential increase and 135% year-over-year growth. The net income attributable to common stockholders reached $2.7 million, or $0.14 per share. Funds from operations (FFO) were $5.2 million, and adjusted funds from operations (AFFO) totaled $6.0 million. Following a successful IPO that raised $102 million in August, the company deployed $30 million for a new investment. The portfolio comprises 27 properties across 10 states, with ongoing commitments to tenant improvements.
NewLake Capital Partners (OTCQX: NLCP) announced a nine-month senior secured loan to Hero Diversified Associates (HDAI), a state-licensed medical marijuana grower in Pennsylvania. The loan includes a first-lien mortgage on HDAI’s facility and will convert to a 20-year sale leaseback unless specific conditions are met by August 1, 2022. CEO David Weinstein expressed enthusiasm for this partnership, highlighting the tailored financial structure provided to HDAI for its growth.
NewLake Capital Partners, a real estate investment trust focused on state-licensed cannabis operators, is set to report its third quarter 2021 financial results on November 12, 2021, at 8:30 a.m. ET. This call will discuss earnings for the period ending September 30, 2021. Investors can join via a live call or webcast, with a replay available until November 26, 2021. The company currently owns a portfolio of 27 cannabis-related properties, leased on a triple-net basis, highlighting its commitment to the cannabis real estate market.
NewLake Capital Partners (NLCP) celebrated a significant milestone by ringing the opening bell at the OTC Markets Group, highlighting its commitment to the cannabis sector's growth. CEO David Weinstein expressed gratitude for the invitation, emphasizing the company's dedication to meeting the increasing capital demands of state-licensed cannabis operators. NewLake specializes in providing real estate capital through sale-leaseback transactions and owns a portfolio of 27 cannabis cultivation facilities and dispensaries leased on a triple-net basis.
NewLake Capital Partners (OTCQX: NLCP) will participate in two key cannabis conferences: Benzinga’s Cannabis Capital Conference on October 14, 2021, in New York City, featuring a panel discussion by President Anthony Coniglio, and MJBizCon from October 20-22, 2021, in Las Vegas. Management will hold one-on-one meetings with investors at both events. The company specializes in real estate capital for state-licensed cannabis operators, with a portfolio of 27 cultivation and dispensary facilities. Investors can schedule meetings via investor relations.
StoicLane has launched a private holding company focused on the Finance, Insurance & Real Estate (FIRE) sectors. Co-founders, including Al Goldstein, have a proven track record, creating over $4B in equity value since 2004. The company aims to use data and technology to enhance service quality. Industry veterans, including Nigel Morris of QED Investors, are joining the Board and Advisory Team. StoicLane is actively pursuing partnerships with leading operators in its sectors to drive growth and success.
NewLake Capital Partners (NLCP) announced a partial cash dividend of $0.12 per share for Q3 2021, payable on October 15, 2021. This dividend covers the period from the closing of its IPO on August 13, 2021 to September 30, 2021. The company also paid a special cash dividend of $0.12 per share on August 18, 2021, for the period from July 1, 2021, to the IPO closure. NewLake focuses on providing real estate capital to cannabis operators through sale-leasebacks and owns a portfolio of 27 facilities leased on a triple-net basis.