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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. announced a lease amendment and forbearance agreement with Revolutionary Clinics. The agreement includes the recovery of unpaid rent, a five-year lease term extension, reduced rental payments, and equity in Rev Clinics. Future rental payments may increase based on financial metrics.
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NewLake Capital Partners, Inc. CEO, Anthony Coniglio, will participate in a virtual panel on 'Lending in the Cannabis Sector' hosted by Zuanic and Associates on October 26, 2023.
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NewLake Capital Partners to host conference call and report Q3 2023 financial results
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NewLake Capital Partners, Inc. to attend Benzinga Cannabis Capital Conference in Chicago.
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NewLake Capital Partners, Inc. announces upsizing of share repurchase program
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NewLake Capital Partners declares Q3 2023 cash dividend of $0.39 per share, equivalent to $1.56 annually.
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NewLake Capital Partners, Inc. announced its financial results for Q2 2023. Revenue totaled $11.4 million, an increase of 8.2% YoY. Net income attributable to common stockholders was $5.8 million. Funds from Operations (FFO) totaled $9.5 million, and Adjusted Funds from Operations (AFFO) totaled $9.9 million. The company repurchased 56,372 shares of common stock. Q2 2023 conference call and webcast scheduled for August 10, 2023, at 11 a.m. Eastern Time.
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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 $16.67 as of January 30, 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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