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. (OTCQX: NLCP) is an internally managed real estate investment trust that provides real estate capital to state-licensed cannabis operators. The NLCP news page on Stock Titan aggregates company-issued updates, earnings announcements, and other public communications so readers can follow developments affecting this cannabis-focused real estate owner.
NewLake regularly publishes quarterly financial results, including revenue, net income attributable to common stockholders, Funds From Operations (FFO), and Adjusted Funds From Operations (AFFO). These releases often highlight portfolio performance, tenant conditions, investment activity in cultivation and dispensary properties, and details on its revolving credit facility and liquidity.
Investors can also track dividend declarations on NewLake’s common stock, as the company announces quarterly cash dividends and discusses payout ratios relative to AFFO. In addition, NewLake issues news about investment transactions, such as acquisitions of dispensary properties, like-kind exchanges, and build-to-suit funding commitments for tenants including Cresco Labs, Curaleaf, and C3 Industries.
The news flow includes updates on tenant situations, such as restructuring processes or receiverships involving tenants like AYR Wellness Inc. and Revolutionary Clinics, along with NewLake’s responses, including applying security deposits and marketing vacated properties for lease. The company also announces participation in investor conferences and industry events, as well as scheduling details for earnings calls and webcasts.
By reviewing this NLCP news feed, readers can see how NewLake communicates about its cannabis-related real estate portfolio, tenant dynamics, capital structure, and dividend practices. Bookmark this page to access a consolidated view of the company’s press releases and public updates over time.
C3 Industries has expanded its cannabis cultivation facility in O'Fallon, Missouri, through a partnership with NewLake Capital Partners (OCTQX: NLCP). The 50,000 square foot addition includes 20,000 square feet of additional flowering canopy space across six rooms, featuring advanced automation and environmental control systems. The expansion aims to increase production capacity and efficiency, with the ability to shorten the plant life cycle from 20 weeks to 12 weeks.
Key features of the expanded facility include a state-of-the-art Argus Titan controller system, reverse osmosis water filtration, and capacity for over 2,000 plants per flowering room. The facility received operational approval on July 17, 2024, with full capacity expected by mid-October 2024. This expansion is set to enhance C3's ability to supply high-quality cannabis products to the Missouri market and support its retail network.
NewLake Capital Partners (OTCQX: NLCP), a leading real estate capital provider for state-licensed cannabis operators, has announced its third quarter 2024 cash dividend. The company's board of directors approved a dividend of $0.43 per share of common stock, equivalent to an annualized dividend of $1.72 per common share. This dividend will be payable on October 15, 2024, to stockholders of record at the close of business on September 30, 2024. This announcement demonstrates NewLake's commitment to providing consistent returns to its shareholders in the growing cannabis real estate sector.
NewLake Capital Partners (OTCQX: NLCP), a leading provider of real estate capital to state-licensed cannabis operators, has announced its participation in the Sidoti Fall Virtual Small Cap Conference on September 18-19, 2024. Anthony Coniglio, President and CEO, will present on Wednesday, September 18, 2024, at 1:45 p.m. ET.
Investors can access the presentation via a webcast link provided by the company. NewLake's management team is also available for one-on-one meetings, which can be scheduled through KCSA Strategic Communications. This event provides an opportunity for NewLake to showcase its business model and growth strategies to potential investors in the small cap market.
NewLake Capital Partners (OCTQX: NLCP) reported strong Q2 2024 financial results. Revenue increased 9.5% year-over-year to $12.5 million. Net income attributable to common stockholders was $6.8 million, while FFO and AFFO totaled $10.5 million and $11.0 million respectively. The company declared a quarterly dividend of $0.43 per share, marking its third consecutive quarterly increase.
NewLake acquired a cultivation facility in Connecticut for $4.0 million and committed to $12.0 million in improvements. With $20.7 million in cash and $82.4 million available in its credit facility, the company is well-positioned for future growth. NewLake also established a $50 million ATM program, enhancing its financial flexibility.
NewLake Capital Partners (OTCQX: NLCP), a leading provider of real estate capital to state-licensed cannabis operators, has announced its upcoming second quarter 2024 earnings call. The call is scheduled for Thursday, August 8, 2024, at 11:00 a.m. Eastern Time. Investors can join the live call by dialing 1-877-407-3982 (U.S. Toll-Free) or 1-201-493-6780 (International). A webcast will also be available. For those unable to attend, a replay will be accessible until August 22, 2024, by dialing 1-844-512-2921 (U.S. Toll Free) or 1-412-317-6671 (International) with the replay pin number: 13747921. Further details can be found on the company's Investor Relations website.
NewLake Capital Partners (OTCQX: NLCP) announced an increase in its second quarter 2024 cash dividend to $0.43 per share of common stock, equivalent to an annualized dividend of $1.72 per common share. The dividend will be payable on July 15, 2024, to stockholders of record as of June 28, 2024. This move highlights NewLake's commitment to delivering value to its shareholders and underscores its positive financial performance.
NewLake Capital Partners (OTCQX: NLCP), a leading provider of real estate capital to state-licensed cannabis operators, has announced that its President and CEO, Anthony Coniglio, will participate in a panel discussion at the Benzinga Cannabis Market Spotlight: New Jersey. This event is scheduled for June 17, 2024, at the New Brunswick Performing Arts Center. Coniglio will join the panel 'Lessons From Leadership: State of the Garden State' at 9:45 a.m. ET. Attendees can schedule one-on-one meetings with NewLake's management team by contacting KCSA Strategic Communications.
NewLake Capital Partners (OTCQX: NLCP) will participate in a fireside chat at the KCSA Cannabis Virtual Investor Conference on June 5, 2024. Anthony Coniglio, CEO, will engage with moderator Pablo Zuanic from Zuanic & Associates at 2 p.m. ET. The event will be live, allowing real-time investor questions, with an archived webcast available afterward. Interested parties can pre-register and schedule one-on-one meetings with NewLake's management via KCSA Strategic Communications.
NewLake Capital Partners, Inc. (NLCP) reported strong first quarter 2024 financial results with revenue reaching $12.6 million, a 10.4% increase year-over-year. Net income for the quarter was $6.9 million, with Funds from Operations (FFO) at $10.6 million and Adjusted Funds from Operations (AFFO) at $11.0 million. The company increased its quarterly dividend to $0.41 per share, equivalent to an annual dividend of $1.64 per share. NewLake capitalized on growth opportunities in the cannabis industry, with positive expectations following recent regulatory developments.
NewLake Capital Partners, Inc. (NLCP) invested $16 million in a Connecticut cannabis cultivation facility operated by C3 Industries, aiming to expand C3's vertically integrated cannabis operations in the state. The investment includes acquiring a 58,500 square-foot property in East Hartford, Connecticut, with a long-term lease agreement. This marks NewLake's second collaboration with C3, showcasing a strategic move to strengthen their presence in the cannabis industry.