Welcome to our dedicated page for Newlake Capital SEC filings (Ticker: NLCP), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The NewLake Capital Partners, Inc. (OTCQX: NLCP) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. NewLake is an internally managed real estate investment trust that supplies real estate capital to state-licensed cannabis operators through sale-leaseback transactions, third-party purchases, and funding for build-to-suit projects.
In its SEC filings, NewLake reports information about its operations, financial condition, and portfolio. For example, a Form 8-K dated November 5, 2025, notes that the company issued a press release announcing financial results for the third quarter ended September 30, 2025, and furnished an investor presentation. Such filings typically reference metrics like revenue, net income attributable to common stockholders, Funds From Operations (FFO), and Adjusted Funds From Operations (AFFO), as well as discussions of tenant conditions and investment activity.
Through this page, users can review filings that describe tenant developments, including restructuring agreements or receivership processes involving cannabis operators leasing NewLake’s cultivation and dispensary properties. Filings also cover details of the company’s revolving credit facility, liquidity, security deposits, and other balance sheet items related to its real estate portfolio.
Stock Titan enhances these documents with AI-powered summaries that highlight key points from lengthy filings, helping readers quickly understand what NewLake reports about its cannabis-focused real estate business. Investors can use this resource to locate quarterly and annual reports, current reports on material events, and other disclosures that outline NewLake’s risk factors, non-GAAP measures such as FFO and AFFO, and its approach to managing tenant and portfolio risks.
Coniglio Anthony reported acquisition or exercise transactions in this Form 4 filing.
NewLake Capital Partners, Inc. President and CEO Anthony Coniglio reported an equity award of 16,240 shares of common stock on March 11, 2026, at a reference price of $16.01 per share. This award is in the form of restricted stock units granted under the company’s 2021 Equity Incentive Plan.
The RSUs will vest in three equal installments on March 11, 2027, March 11, 2028 and March 11, 2029, contingent on continued service. Following this grant, Coniglio directly holds a total of 617,494 shares of common stock, reflecting ongoing alignment of his compensation with shareholder interests.
NewLake Capital Partners, Inc. reported that its CFO, Treasurer and Secretary, Lisa Meyer, acquired 6,246 shares of common stock as a grant of restricted stock units (RSUs) valued at $16.01 per share. These RSUs were granted under the company’s 2021 Equity Incentive Plan.
The RSUs will vest ratably on March 11, 2027, March 11, 2028 and March 11, 2029, subject to her continued service with the company. Following this grant, Meyer directly holds 20,119 shares of NewLake Capital common stock.
NewLake Capital Partners CFO Lisa Meyer reported routine equity compensation activity involving RSUs and related dividend equivalents. On March 10, 2026, she received 294.6 dividend equivalent rights tied to common stock as a grant. The same 294.6 underlying common shares were then disposed to the issuer on March 11, 2026 when those dividend equivalents were settled in cash under the company’s 2021 Equity Incentive Plan.
Also on March 10, 2026, 344 shares of common stock at $16.00 per share were withheld to cover taxes associated with the vesting of previously granted RSUs, leaving her with 13,873 common shares held directly. These transactions are compensation- and tax-related rather than open-market trades.
NewLake Capital Partners President and CEO Anthony Coniglio reported routine equity compensation activity tied to restricted stock units (RSUs). On March 10, 2026, shares of common stock vested and 1,821 shares were withheld at $16.00 per share to cover tax obligations, leaving him with 601,254 common shares held directly.
Related Dividend Equivalent Rights covering 1,384 underlying common shares were granted on March 10, 2026 and then disposed of to the issuer when those dividend equivalents were settled in cash under the 2021 Equity Incentive Plan. No Dividend Equivalent Rights remain outstanding after these transactions.
NewLake Capital Partners, Inc. files its annual report as an internally managed cannabis-focused REIT that provides real estate capital to state-licensed operators through sale-leaseback and build-to-suit transactions.
As of December 31, 2025, NewLake owned 34 single-tenant, triple-net properties across 12 states, including 15 cultivation facilities and 19 dispensaries, totaling 1,697,206 rentable square feet and generating $49,739,954 in rental income for the year.
The company’s revenue base is concentrated in 11 tenants, with the largest representing 25.8% of annualized rental revenue, and it discloses 2025 lease payment defaults by two tenants that led to three vacant properties and higher re-leasing risk.
Management highlights extensive regulatory uncertainty because cannabis remains illegal under federal law, limited access to banking and capital markets, environmental and agricultural regulation exposures, real estate development and impairment risk, and the need to maintain REIT qualification while keeping aggregate borrowings at or below 50% of the cost of tangible assets under its investment guidelines.
NewLake also notes federal-level developments around potential cannabis rescheduling, banking legislation, and hemp-derived products, emphasizing that outcomes are uncertain, and reports a small corporate structure with seven employees, comprehensive employee benefits, and a market value of common stock held by non-affiliates of approximately $233,959,142 as of June 30, 2025.
NewLake Capital Partners reported steady fourth quarter and full‑year 2025 results while maintaining a very conservative balance sheet. Q4 2025 revenue was $12.3 million, down 1.4% from the prior year quarter, as vacancies at three properties modestly reduced rental income and pushed Adjusted Funds From Operations (AFFO) down 3.0%.
For full year 2025, revenue grew to $51.1 million, up 1.9%, with AFFO of $43.8 million or $2.09 per diluted share, slightly above 2024. The company declared total 2025 dividends of $1.72 per share, an 82% AFFO payout ratio, and kept the quarterly dividend at $0.43 per share for first quarter 2026.
NewLake highlighted a strong balance sheet, with $23.9 million of cash, $7.6 million drawn on its Revolving Credit Facility, total liquidity of $106.3 million, and no debt maturities until May 2027. Gross real estate assets were $432.9 million across 34 properties, and debt represented just 1.6% of total gross assets.
NewLake Capital Partners, Inc. director and President & CEO Anthony Coniglio reported routine equity-related transactions. On March 2, 2026, 1,710 shares of common stock were disposed of at $15.46 per share to cover tax withholding tied to previously granted RSUs, leaving him with 603,075 directly owned shares.
Also on March 2, he acquired 893 dividend equivalent rights relating to those RSUs, which accrued as the company paid dividends. On March 3, 2026, these 893 dividend equivalent rights were disposed of to the issuer and settled in cash based on the $15.46 closing share price. These transactions reflect compensation and tax mechanics rather than open-market buying or selling.
NewLake Capital Partners CFO Lisa Meyer reported a set of compensation-related equity transactions. On March 2, 2026, she received a grant of 343.3 dividend equivalent rights tied to previously granted RSUs, with the rights valued using a $15.46 closing share price. The same 343.3 dividend equivalent rights were then disposed to the issuer on March 3, 2026 in connection with cash settlement under the 2021 Equity Incentive Plan. Also on March 2, 584 shares of common stock were withheld at $15.46 per share to cover taxes due on RSU vesting, leaving her with 14,217 common shares held directly.
NewLake Capital Partners, Inc. CFO, Treasurer and Secretary Lisa Meyer reported routine equity-related transactions. On February 17, 2026, she acquired 159 Dividend Equivalent Rights tied to previously granted RSUs and simultaneously had 565 shares of common stock withheld to cover tax liabilities upon RSU vesting. The Dividend Equivalent Rights, based on a $16.25 closing share price, were then disposed of to the issuer on February 18, 2026 when settled in cash under the 2021 Equity Incentive Plan. Following these transactions, Meyer directly held 14,801 shares of common stock.
NewLake Capital Partners CFO Lisa Meyer reported equity compensation activity tied to performance stock units that vested based on 2023–2025 results. On January 22, 2026, she acquired 5,092 shares of common stock at no cost upon PSU vesting, with 2,465 shares disposed of to cover tax obligations. Dividend equivalent rights that accrued on the PSUs were also reported, with the underlying amount determined using the $15.00 closing share price on January 22, 2026, and corresponding derivative entries recorded.