Newlake Capital Partners, Inc. ( (NLCP) ) has released its Q4 earnings. Here is a breakdown of the information Newlake Capital Partners, Inc. presented to its investors.
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NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases, owning a portfolio of 33 properties.
The company reported its financial results for the fourth quarter and full year of 2024, highlighting a year-over-year revenue growth of 6% to $50.1 million and an increase in annual dividends to $1.70 per share, despite challenges in the cannabis industry.
Key financial metrics for the fourth quarter included a revenue of $12.5 million, net income attributable to common stockholders of $6.0 million, and adjusted funds from operations (AFFO) of $10.9 million. For the full year, the company achieved a net income of $26.1 million and AFFO of $43.7 million. The company also expanded its real estate portfolio with acquisitions and improvements, including a new dispensary in Ohio.
Looking ahead, NewLake Capital Partners remains committed to delivering shareholder value through strategic investments and maintaining a strong financial position, as evidenced by their extended stock repurchase program and robust liquidity. The management’s outlook suggests continued focus on navigating industry challenges while leveraging their underwriting strength.
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