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NewLake Capital Partners ( (NLCP) ) has issued an announcement.
NewLake Capital Partners, a key real estate capital provider for state-licensed cannabis operators, reported robust third-quarter earnings for 2024, with a 9.3% revenue increase year-over-year, totaling $12.6 million. The company’s strategic investments and strong operational performance, including a significant dividend payout and high rent collection rate, underscore its pivotal role amidst ongoing cannabis industry reforms. With $19.8 million in cash reserves and further commitments for property improvements, NewLake remains well-positioned to capitalize on the burgeoning cannabis market.
For detailed information about NLCP stock, go to TipRanks’ Stock Analysis page.