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.
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NewLake Capital Partners, Inc. (OTCQX: NLCP) has announced it will report its financial results for the first quarter ended March 31, 2023, during a conference call on May 10, 2023, at 11:00 a.m. ET. The company specializes in providing real estate capital to state-licensed cannabis operators, utilizing sale-leaseback transactions and funding for build-to-suit projects. NewLake’s portfolio consists of 32 cultivation facilities and dispensaries leased on a triple-net basis. Interested parties can access the call via a live dial-in or webcast, with a replay available until May 24, 2023. Further information can be found on their Investor Relations website.
NewLake Capital Partners (OTCQX: NLCP) has promoted Jarrett Annenberg to Senior Vice President, Head of Investments, effective immediately. A co-founder of NewLake, Annenberg has played a crucial role in the company's growth since its inception in 2019, handling acquisitions, portfolio management, and capital raising. His previous experience includes a decade at CBRE, where he managed significant real estate transactions valued over $1 billion. NewLake, a leading real estate investment trust serving state-licensed cannabis operators, owns 32 cultivation facilities and dispensaries leased on a triple-net basis.
NewLake Capital Partners (OTCQX: NLCP), a key player in providing real estate capital to licensed cannabis businesses, has announced participation in several upcoming investor conferences in April 2023. The events include:
- GlobeSt. Net Lease Spring 2023 Conference, New York, NY on April 4.
- Sequire Cannabis & Psychedelics Virtual Conference on April 5.
- Benzinga Cannabis Capital Conference, Miami, FL on April 11.
These conferences will focus on crucial industry topics, including REITs' impact and debt financing in cannabis. Interested parties can register online or schedule one-on-one meetings with the management team.
NewLake Capital Partners reported a 35.7% increase in fourth quarter revenue to $12.2 million and a 59.6% surge in full year revenue to $44.8 million for 2022. Net income for Q4 2022 was $6.7 million, up from $4.3 million year-over-year. For the full year, net income reached $22.0 million, compared to $11.2 million in 2021. Funds from operations (FFO) for Q4 rose 51.3% to $10.5 million, while AFFO increased by 52.0% to $10.9 million. The dividend for Q1 2023 is set at $0.39 per share, maintaining an annualized rate of $1.56.
NewLake Capital Partners (OTCQX: NLCP) will host a conference call to discuss its fourth quarter and full year 2022 financial results on March 9, 2023, at 10:00 AM ET. The call will be accessible via phone and webcast, with a replay available until March 23, 2023. NewLake specializes in providing real estate capital to state-licensed cannabis operators through leaseback transactions and has a diversified portfolio including 32 cultivation facilities and dispensaries. Additional details can be found on their website.