United States

AFFO (TTM)

AFFO/share (TTM)

AFFO (Quarter)

AFFO/share (Quarter)

Price per share at the end of the period divided by the last reported earnings

Price/AFFO

Size (ft²)

Occupancy

NewLake Capital Partners is a leading provider of real estate capital to state-licensed cannabis operators. Founded in 2019, we are a triple-net lease REIT that acquires industrial and retail properties through sale-leaseback transactions, third-party purchases and build-to-suit projects. Our tenants are some of the leading operators in the U.S. state-licensed cannabis industry and we are a trusted partner for their real estate needs.

NewLake Capital Partners

The main earnings metric reported by the REIT

If the REIT is managed by an internal (employees) or external (separate company) team

Period: 2023 Q1

Years since IPO: 0/15,
Adjusted FFO Growth: 10/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 15/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2023 Q2

Years since IPO: 0/15,
Adjusted FFO Growth: 15/15,
Adjusted FFO/share Growth: 20/20,
Dividend Growth: 15/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2023 Q3

Years since IPO: 0/15,
Adjusted FFO Growth: 15/15,
Adjusted FFO/share Growth: 18/20,
Dividend Growth: 15/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2023 Q4

Years since IPO: 0/15,
Adjusted FFO Growth: 13/15,
Adjusted FFO/share Growth: 18/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2024 Q1

Years since IPO: 0/15,
Adjusted FFO Growth: 15/15,
Adjusted FFO/share Growth: 20/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2024 Q2

Years since IPO: 0/15,
Adjusted FFO Growth: 15/15,
Adjusted FFO/share Growth: 20/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2024 Q3

Years since IPO: 0/15,
Adjusted FFO Growth: 15/15,
Adjusted FFO/share Growth: 20/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2024 Q4

Years since IPO: 0/15,
Adjusted FFO Growth: 15/15,
Adjusted FFO/share Growth: 20/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2025 Q1

Years since IPO: 0/15,
Adjusted FFO Growth: 10/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2025 Q2

Years since IPO: 0/15,
Adjusted FFO Growth: 15/15,
Adjusted FFO/share Growth: 20/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2025 Q3

Years since IPO: 0/15,
Adjusted FFO Growth: 15/15,
Adjusted FFO/share Growth: 20/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

The significance of a company's longevity in the market

Years since IPO

Evaluation of recent trends and improvements in the company's Adjusted FFO

Adjusted FFO Growth

Assessment of recent increases in Adjusted FFO per share, indicating profitability

Adjusted FFO/share Growth

Analysis of the recent Dividend track record

Dividend Growth

Payout level to determine if the dividend is safe

Payout Ratio

Examination of debt levels using Debt/Assets and Debt/EBITDA to ensure manageable leverage

Debt

The ancillary cannabis sector continues to draw new interest as the industry navigates a shifting landscape in late 2025. Many investors remain cautious about traditional plant-touching companies because they still face heavy tax burdens, banking restrictions, and regulatory uncertainty. However, ancillary operators avoid many of these challenges. They support the cannabis market through real estate, financing, and essential infrastructure rather than handling the product directly. Consequently, these companies often show steadier revenues, stronger margins, and healthier long-term fundamentals than some retailers or cultivators.

Three Leading Ancillary Cannabis Stocks Poised for Growth in November 2025

The continuous evolution and future outlook on legal cannabis is what keeps investors in the game. After a long battle to see any true stable trading momentum, it has for some time worked the same for most marijuana stocks. It often comes from positive news on federal reform or when a company achieves a significant milestone in business or reports strong financial results.

3 Top Marijuana Stocks For Better Investing And Larger Profits In 2026

Third Quarter 2025 Revenue Totaled $12.6 Million, an Increase of 0.3% Year-Over-Year

NewLake Capital Partners Reports Third Quarter 2025 Financial Results

The U.S. cannabis industry continues to expand rapidly, with sales projected to surpass $40 billion in 2025. Analysts expect nationwide revenue could exceed $70 billion by 2030 as more states legalize both medical and recreational use. Recent headlines highlight renewed discussions in Congress about rescheduling cannabis under federal law, which could further boost industry confidence. Cannabis Real Estate Investment Trusts (REITs) like Innovative Industrial Properties, NewLake Capital Partners, and Chicago Atlantic Real Estate Finance benefit directly from this trend. These companies lease facilities to licensed operators and offer investors consistent dividend income. Many of these REITs currently provide dividend yields between 8% and 12%, making them appealing to income-focused investors seeking exposure to this growing market.

Top 3 Cannabis REITs to Watch in October 2025: Dividend Income Meets Industry Growth

The cannabis real estate sector is drawing renewed attention this week. Amid volatility in broader markets, top cannabis REITs stand out as vehicles to access cannabis industry upside without touching the plant. Moreover, the U.S. cannabis industry is showing robust fundamentals. In 2024, legal sales reached about $30.1 billion, growing roughly 4.5% year over year. Analysts expect the U.S. cannabis market to reach $76 billion by 2030, with a projected annual growth rate near 11%. Meanwhile, regulatory momentum is building as lawmakers continue pushing for federal reform. These developments could open banking access and reduce financing barriers for cannabis operators. Such shifts promise strong catalysts for REITs focused on cannabis properties, lending, and real estate expansion.

3 Cannabis REITs Leading the Marijuana Stock Market in October 2025

NEW CANAAN, Conn., Oct. 06, 2025 (GLOBE NEWSWIRE) -- NewLake Capital Partners, Inc. (OTCQX: NLCP) (“The Company” or “NewLake”), a leading provider of real estate capital to state-licensed cannabis operators, today announced that management is scheduled to participate at the following October 2025 investor conferences.

NewLake Capital Partners to Participate in Upcoming October Conferences

NEW CANAAN, Conn., Sept. 12, 2025 (GLOBE NEWSWIRE) -- NewLake Capital Partners, Inc. (OTCQX: NLCP) (“The Company” or “NewLake”), a leading provider of real estate capital to state-licensed cannabis operators, today announced that its board of directors has approved its third quarter 2025 cash dividend of $0.43 per share of common stock.

NewLake Capital Partners Issues Third Quarter 2025 Common Stock Dividend of $0.43 per Share

THIRD QUARTER 2025 REVENUE TOTALED $12.6 MILLION, AN INCREASE OF 0.3% YEAR-OVER-YEAR

NEWLAKE CAPITAL PARTNERS REPORTS THIRD QUARTER 2025 FINANCIAL RESULTS

NEW CANAAN, CONN., OCT. 06, 2025 (GLOBE NEWSWIRE) -- NEWLAKE CAPITAL PARTNERS, INC. (OTCQX: NLCP) (THE COMPANY OR NEWLAKE), A LEADING PROVIDER OF REAL ESTATE CAPITAL TO STATE-LICENSED CANNABIS OPERATORS, TODAY ANNOUNCED THAT MANAGEMENT IS SCHEDULED TO PARTICIPATE AT THE FOLLOWING OCTOBER 2025 INVESTOR CONFERENCES.

NEWLAKE CAPITAL PARTNERS TO PARTICIPATE IN UPCOMING OCTOBER CONFERENCES

NEW CANAAN, CONN., SEPT. 12, 2025 (GLOBE NEWSWIRE) -- NEWLAKE CAPITAL PARTNERS, INC. (OTCQX: NLCP) (THE COMPANY OR NEWLAKE), A LEADING PROVIDER OF REAL ESTATE CAPITAL TO STATE-LICENSED CANNABIS OPERATORS, TODAY ANNOUNCED THAT ITS BOARD OF DIRECTORS HAS APPROVED ITS THIRD QUARTER 2025 CASH DIVIDEND OF $0.43 PER SHARE OF COMMON STOCK.

NEWLAKE CAPITAL PARTNERS ISSUES THIRD QUARTER 2025 COMMON STOCK DIVIDEND OF $0.43 PER SHARE

SECOND QUARTER 2025 REVENUE TOTALED $12.9 MILLION, AN INCREASE OF 3.8% YEAR-OVER-YEAR

NEWLAKE CAPITAL PARTNERS REPORTS SECOND QUARTER 2025 FINANCIAL RESULTS

NEW CANAAN, CONN., JUNE 16, 2025 (GLOBE NEWSWIRE) -- NEWLAKE CAPITAL PARTNERS, INC. (OTCQX: NLCP) (THE COMPANY OR NEWLAKE), A LEADING PROVIDER OF REAL ESTATE CAPITAL TO STATE-LICENSED CANNABIS OPERATORS, TODAY ANNOUNCED THAT ITS BOARD OF DIRECTORS HAS APPROVED ITS SECOND QUARTER 2025 CASH DIVIDEND OF $0.43 PER SHARE OF COMMON STOCK.

NEWLAKE CAPITAL PARTNERS ISSUES SECOND QUARTER 2025 COMMON STOCK DIVIDEND OF $0.43 PER SHARE

NEW CANAAN, CONN., JUNE 02, 2025 (GLOBE NEWSWIRE) -- NEWLAKE CAPITAL PARTNERS, INC. (OTCQX: NLCP) (THE COMPANY OR NEWLAKE), A LEADING PROVIDER OF REAL ESTATE CAPITAL TO STATE-LICENSED CANNABIS OPERATORS, TODAY ANNOUNCED THAT MANAGEMENT IS SCHEDULED TO PARTICIPATE AT THE FOLLOWING JUNE 2025 CONFERENCES.

NEWLAKE CAPITAL PARTNERS TO PARTICIPATE IN UPCOMING JUNE CONFERENCES

FIRST QUARTER 2025 REVENUE TOTALED $13.2 MILLION, AN INCREASE OF 4.8% YEAR-OVER-YEAR

NEWLAKE CAPITAL PARTNERS REPORTS FIRST QUARTER 2025 FINANCIAL RESULTS

NEW CANAAN, CONN., APRIL 10, 2025 (GLOBE NEWSWIRE) -- NEWLAKE CAPITAL PARTNERS, INC. (OTCQX: NLCP) (THE COMPANY OR NEWLAKE), A LEADING PROVIDER OF REAL ESTATE CAPITAL TO STATE-LICENSED CANNABIS OPERATORS, TODAY ANNOUNCED THAT IT PLANS TO HOST A CONFERENCE CALL AND REPORT ITS FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2025 ON THURSDAY, MAY 8, 2025. ADDITIONAL DETAILS ARE AVAILABLE UNDER THE INVESTOR RELATIONS SECTION OF THE COMPANY'S WEBSITE: HTTPS://IR.NEWLAKE.COM/.

NEWLAKE CAPITAL PARTNERS TO HOST FIRST QUARTER 2025 EARNINGS CALL ON MAY 8TH AT 11:00 A.M. ET

NEW CANAAN, CONN., MARCH 26, 2025 (GLOBE NEWSWIRE) -- NEWLAKE CAPITAL PARTNERS, INC. (OTCQX: NLCP) (THE COMPANY OR NEWLAKE), A LEADING PROVIDER OF REAL ESTATE CAPITAL TO STATE-LICENSED CANNABIS OPERATORS, TODAY ANNOUNCED THAT MANAGEMENT IS SCHEDULED TO PRESENT AT THE FOLLOWING APRIL 2025 INVESTOR CONFERENCES.

NEWLAKE CAPITAL PARTNERS TO PARTICIPATE IN UPCOMING APRIL CONFERENCES

NEW CANAAN, CONN., MARCH 10, 2025 (GLOBE NEWSWIRE) -- NEWLAKE CAPITAL PARTNERS, INC. (OTCQX: NLCP) (THE COMPANY OR NEWLAKE), A LEADING PROVIDER OF REAL ESTATE CAPITAL TO STATE-LICENSED CANNABIS OPERATORS, TODAY ANNOUNCED THAT ANTHONY CONIGLIO, PRESIDENT AND CEO, WILL PRESENT AT THE SIDOTI VIRTUAL INVESTOR CONFERENCE TO BE HELD MARCH 19-20, 2025.

NewLake Capital Partners

NLCP

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