Newlake Capital Stock Price, News & Analysis

NewLake Capital Partners reported a 50% year-over-year increase in revenue for Q3 2022, totaling $12.1 million. Net income reached $6.5 million, up from $2.7 million the previous year. Funds from operations (FFO) and adjusted funds from operations (AFFO) also improved significantly, showing increases of 75% and 75.3% year-over-year, respectively. The company announced a stock repurchase program of up to $10 million and declared a dividend of $0.37 per share, reflecting confidence in its portfolio. A conference call is scheduled for November 10, 2022.

NewLake Capital Partners (OTCQX: NLCP) is set to host a conference call on November 10, 2022, to report its financial results for the third quarter ending September 30, 2022. The call will take place at 10:00 a.m. Eastern Time and will be accessible via dial-in or webcast. NewLake specializes in providing real estate capital to state-licensed cannabis operators through various financial mechanisms, including sale-leaseback transactions. The company currently owns a portfolio of 31 cultivation facilities and dispensaries.

NewLake Capital Partners (OTCQX: NLCP) announced that CEO Anthony Coniglio will participate in the KCSA Cannabis Virtual Investor Conference on October 27, 2022, at 11:30 a.m. ET. The company specializes in providing real estate capital to state-licensed cannabis operators through various financial structures, including sale-leaseback transactions and funding for build-to-suit projects. NewLake holds a portfolio of 31 cannabis facilities leased on a triple-net basis, further strengthening its position in the cannabis real estate market.

NewLake Capital Partners (OTCQX: NLCP) has declared a third-quarter 2022 cash dividend of $0.37 per share, translating to an annualized rate of $1.48. This marks the company's sixth consecutive quarterly dividend hike, reflecting a 5.7% increase from the previous quarter. The dividend will be payable on October 14, 2022, to stockholders on record as of September 30, 2022. NewLake specializes in providing real estate capital to state-licensed cannabis operators, owning 31 cultivation and dispensary facilities under triple-net lease agreements.

NewLake Capital Partners (OTCQX: NLCP) announced that its CEO, Anthony Coniglio, will speak at three cannabis conferences in September 2022. The events include the Alliant, CohnReznick & Duane Morris Cannabis Executives Conference on September 8, the Benzinga Cannabis Capital Conference on September 13, and the KCSA Cannabis Virtual Investor Conference on September 29. Interested parties can register for the conferences through the provided links. As a real estate investment trust, NewLake specializes in providing capital to state-licensed cannabis operators.

NewLake Capital Partners, a key player in real estate capital for state-licensed cannabis operators, announced that CEO Anthony Coniglio will attend the Wolfe Research Late Summer Virtual Consumer Conference from August 24 to August 25, 2022. Coniglio will participate in the Cannabis Cultivation & Capital Panel on August 24 at 9:15 a.m. ET. Investors interested in scheduling one-on-one meetings with management can contact Wolfe Research representatives or email KCSA Strategic Communications.

NewLake Capital Partners achieved Q2 2022 revenue of $10.5 million, marking a 59% year-over-year increase. The net income attributable to common stockholders was $3.8 million, though it declined from $5.0 million in Q1 2022 due to one-time severance costs of $1.6 million. The company successfully increased its credit facility from $30 million to $90 million, enabling continued investment in high-quality assets.

The projected dividend is $0.35 per share, up from $0.33 the previous quarter.

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.