Every 10-Q that NEWLAKE CAP PARTNERS INC (NLCP) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow NLCP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NLCP filings page.
NewLake Capital Partners, an internally managed cannabis-focused REIT, reported second‑quarter 2026 total revenue of $12.1 million, down from $12.9 million a year earlier. Rental income was $11.8 million, and net income attributable to common stockholders was $5.9 million, or $0.29 per diluted share, versus $7.3 million, or $0.35, in 2025.
The decline primarily reflects lost rent from three cultivation properties in Massachusetts, Pennsylvania and Nevada that became vacant in 2025 and remain available for lease, partially offset by contractual rent escalations and contributions from 2025 Ohio acquisitions. As of June 30, 2026, NewLake owned 34 properties in 12 states, including 31 leased and 3 available, with net real estate of $363.6 million and total assets of $414.8 million.
The balance sheet remained lightly leveraged, with $7.6 million drawn on a $90.0 million revolving credit facility and equity of $388.9 million. A subsequent amendment extended the facility’s maturity to May 6, 2029 and reset the interest rate to at least the Prime Rate or 6.25%. The board declared quarterly dividends of $0.43 per share, matching the prior year. NewLake highlighted tenant concentration risk, notably The Cannabist Company’s Canadian restructuring and U.S. Chapter 15 recognition, though Cannabist remained current on rent and posted security deposits of about $0.48 million.
NewLake Capital Partners, Inc. reported solid but slightly lower results for the quarter ended March 31, 2026. Total revenue was $12.3 million, down from $13.2 million a year earlier, mainly because three cultivation facilities in Pennsylvania, Nevada and Massachusetts are currently vacant and produced no rent.
Net income attributable to common stockholders was $5.8 million, or $0.28 per diluted share, compared with $6.3 million, or $0.31 per diluted share, as lower rental income was only partly offset by reduced operating and professional expenses. The balance sheet remained conservative, with total assets of $417.6 million, net real estate of $366.6 million and just $7.6 million drawn on a $90 million revolving credit facility.
As of March 31, 2026, NewLake owned 34 cannabis-focused properties in 12 states, with 31 leased on long-term triple-net terms and three being actively marketed for new tenants. One Hartford, Connecticut asset is classified as held for sale at a carrying value of about $4.8 million, supported by make‑whole protection from the tenant. The company highlighted tenant concentration, including Curaleaf, Cresco Labs and Trulieve, and noted that The Cannabist Company has entered restructuring proceedings but remained current on rent, backed by roughly $0.5 million of security deposits. Contractual minimum rent under existing leases totals about $601.6 million over future years, and the board declared a quarterly cash dividend of $0.43 per share.
NewLake Capital Partners (NLCP) reported Q3 2025 results. Total revenue was $12.6 million, driven mainly by rental income of $12.3 million. Net income attributable to common stockholders was $6.7 million, or $0.32 per diluted share. For the first nine months, revenue reached $38.7 million and net income attributable to common stockholders was $20.3 million, or $0.98 per diluted share.
Operating cash flow for the nine-month period was $32.4 million, ending cash was $23.6 million, and net real estate was $377.5 million. The company declared $0.43 per share in each of the first three quarters, totaling $1.29 year-to-date. NLCP had $7.6 million outstanding on its revolving credit facility at an interest rate of 8.25% as of September 30, 2025, with $82.4 million available, subject to collateral. Two AYR-leased properties (5.9% of year-to-date rental income) became vacant after AYR ceased rent in August; NLCP applied $505.1 thousand of security deposits and held $408.4 thousand remaining at quarter-end while marketing the properties for lease. Shares outstanding were 20,552,632 as of November 4, 2025.