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NewLake Capital Partners, Inc. (NLCP) is a premier provider of real estate capital to state-licensed cannabis operators. Led by CEO Anthony Coniglio, NewLake focuses on quality properties in limited licensed states, emphasizing strong property-level cash flows. The company recently expanded its partnership with C3 Industries, supporting the growth of their vertically integrated cannabis operations in Connecticut. Founded in 2018, C3 Industries, led by founders Ankur and Vishal Rungta, is known for its premium cannabis brands like Cloud Cover, Galactic, and Habitat, operating in multiple states. NewLake's commitment to quality, innovation, and economic development underscores its position as a key player in the cannabis real estate sector.
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NewLake Capital Partners, Inc. (NLCP) CEO Anthony Coniglio praises Florida Supreme Court's decision to advance Amendment 3, the adult-use cannabis bill, to the November ballot. The measure, supported by 75% of Floridians, could lead to adult-use sales starting in May 2025. With Florida's medical cannabis sales surpassing $2.5 billion in 2023, the potential for a $6 billion adult-use market is significant. Tenants like Trulieve, Curaleaf, Cresco, AYR, and the Cannabist stand to benefit from this development, with NewLake providing essential real estate capital and support.
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NewLake Capital Partners, Inc. (NLCP) announces its participation in investor conferences in April 2024. The company will be present at LD Micro Invitational XIV on April 8-9 in New York and Benzinga Cannabis Capital Conference on April 16-17 in Florida. Management will discuss capital strategies and timing at these events.
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NewLake Capital Partners, Inc. (NLCP) reported strong financial results for Q4 and full year 2023, with revenue increasing by 6.4% and 5.1% respectively. Net income, FFO, and AFFO also showed positive growth. The company repurchased shares and raised dividends. Operational highlights include 100% rent collection, stock repurchase program, and investments in cultivation facilities. Recent developments include lease amendments and increased dividends.
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NewLake Capital Partners, Inc. (NLCP) announces President and CEO, Anthony Coniglio, to present at the Sidoti Small-Cap Conference on March 13th and 14th. The company is a prominent provider of real estate capital to state-licensed cannabis operators.
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NewLake Capital Partners, Inc. plans to host a conference call to report its financial results for the fourth quarter and full year ended December 31, 2023, on Monday, March 11, 2024. The call will be available via live webcast and dial-in replay for interested individuals unable to join. The company is a leading provider of real estate capital to state-licensed cannabis operators.
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NewLake Capital Partners, Inc. (NLCP) announced the tax treatment of its common stock dividends declared in 2023. The Federal Income Tax classification of the 2023 dividend distributions and the cash distributions made on January 12, 2024, are detailed. Stockholders are advised to consult their tax advisors regarding the U.S. federal, state, local, and foreign income, and other tax consequences.
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NewLake Capital Partners, Inc. (NLCP) increases Q4 2023 cash dividend to $0.40 per share, equivalent to an annualized dividend of $1.60 per common share. The company has acquired 908,394 shares of common stock and provides an update on its share repurchase program.
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NewLake Capital Partners, Inc. (NLCP) to have CEO Anthony Coniglio participate in a fireside chat with Pablo Zuanic, Senior Equity Analyst and Managing Partner at Zuanic and Associates.
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NewLake Capital Partners, Inc. (NLCP) announces the sale of Calypso Enterprises, a tenant, to Canvas Acquisition Corporation, LLC. NewLake will provide $3 million in tenant improvements and a six-month rent escrow under the revised lease agreement. Canvas has the option to purchase the property at NewLake’s cost basis from December 2024 through December 2025. The sale demonstrates the quality of the facility and business opportunity in limited license states, particularly Pennsylvania. Canvas's financial profile as the new lease guarantor is improved from HDAI.
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NLCP: NewLake Capital Partners, Inc. Announces $11.5M Revenue in Q3 2023, $6.0M Net Income, and $10.1M Adjusted Funds from Operations. The company repurchased 608,152 shares of common stock and maintained a $0.39 per share quarterly dividend.
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FAQ
What is the current stock price of NEWLAKE CAP PARTNERS (NLCP)?
The current stock price of NEWLAKE CAP PARTNERS (NLCP) is $16.42 as of January 29, 2025.
What is the market cap of NEWLAKE CAP PARTNERS (NLCP)?
The market cap of NEWLAKE CAP PARTNERS (NLCP) is approximately 344.4M.
What does NewLake Capital Partners, Inc. do?
NewLake Capital Partners, Inc. is a provider of real estate capital to state-licensed cannabis operators, focusing on quality properties in limited licensed states.
Who leads NewLake Capital Partners, Inc.?
Anthony Coniglio serves as the CEO of NewLake Capital Partners, Inc.
What is the recent partnership of NewLake Capital Partners, Inc.?
NewLake expanded its partnership with C3 Industries to support the growth of their vertically integrated cannabis operations in Connecticut.
When was C3 Industries founded?
C3 Industries was founded in 2018 by brothers Ankur and Vishal Rungta.
What are the premium cannabis brands of C3 Industries?
C3 Industries produces premium cannabis brands like Cloud Cover, Galactic, and Habitat.
In how many states does C3 Industries operate?
C3 Industries operates in Illinois, Michigan, Missouri, Massachusetts, and New Jersey.
What underwriting focus does NewLake Capital Partners, Inc. have?
NewLake Capital Partners, Inc. focuses on quality properties in limited licensed states with strong property-level cash flows.
Who are the contact persons for investors at NewLake Capital Partners, Inc.?
Investors can contact Valter Pinto, Managing Director at KCSA Strategic Communications or Lisa Meyer, the CFO, Treasurer, and Secretary.
What is the commitment of NewLake Capital Partners, Inc. to economic development?
NewLake Capital Partners, Inc. is committed to driving economic development and job creation in local communities and states where it operates.
Who is the CEO and cofounder of C3 Industries?
Ankur Rungta is the CEO and cofounder of C3 Industries.
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