Newlake Capital Partners, Inc. ( (NLCP) ) has released its Q1 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.
In its first quarter of 2025, NewLake Capital Partners reported a revenue of $13.2 million, marking a 4.8% increase year-over-year, with net income attributable to common stockholders at $6.3 million. The company also declared a dividend of $0.43 per common share, reflecting a 4.9% increase from the previous year.
The company maintained strong financial metrics with Funds From Operations (FFO) at $10.3 million and Adjusted Funds From Operations (AFFO) at $10.7 million, despite challenges from tenant defaults impacting these figures slightly. NewLake also reported a robust balance sheet, with total liquidity of $102.3 million and a low debt-to-total gross assets ratio of 1.6%.
NewLake’s strategic focus on disciplined risk management and proactive portfolio construction has enabled it to maintain consistent rent collections and a stable AFFO payout ratio of 84%. The company continues to navigate the volatile cannabis industry landscape with resilience.
Looking ahead, NewLake Capital Partners remains committed to executing its strategic initiatives, leveraging its financial strength to support growth opportunities in the cannabis real estate sector, while managing risks associated with tenant operations and market conditions.