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), 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.
NewLake Capital Partners, Inc. (NLCP) will be presenting at the Aegis Capital Virtual Conference on May 9th, 2024. Anthony Coniglio, President and CEO, will discuss the company's real estate capital services for cannabis operators. Investors can register for the webcast on the company's IR website and request one-on-one meetings with the management team.
NewLake Capital Partners, a leading provider of real estate capital to state-licensed cannabis operators, issues a statement on the DEA rescheduling cannabis from Schedule I to Schedule III. This move has significant implications for the cannabis industry, including tax savings for operators and increased investment opportunities. NewLake stands to benefit from potential growth and has the capacity to seize opportunities arising from this development.
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