NewLake Capital Partners, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 08:30 am
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NewLake Capital Partners, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 11.36 million compared to USD 11.64 million a year ago. Revenue was USD 11.49 million compared to USD 12.08 million a year ago. Net income was USD 5.96 million compared to USD 6.51 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 0.3 a year ago. Diluted earnings per share from continuing operations was USD 0.28 compared to USD 0.3 a year ago.
For the nine months, sales was USD 33.89 million compared to USD 30.46 million a year ago. Revenue was USD 34.28 million compared to USD 32.76 million a year ago. Net income was USD 17.62 million compared to USD 15.29 million a year ago. Basic earnings per share from continuing operations was USD 0.83 compared to USD 0.71 a year ago. Diluted earnings per share from continuing operations was USD 0.83 compared to USD 0.71 a year ago.
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 and funding for build-to-suit projects. The Company supplies necessary real estate capital primarily to companies that cultivate, produce and/or dispense cannabis. The Company owns a portfolio of approximately 31 properties comprised of 14 cultivation facilities and 17 dispensaries. The Company's properties are leased to single tenants on a long-term, triple-net basis, which obligates the tenant to be responsible for the ongoing expenses of a property, in addition to its rent obligations. Its properties are located in Florida, Pennsylvania, Illinois, Massachusetts, Missouri, Nevada, Arizona, California, Ohio, North Dakota, Arkansas and Connecticut.
NEWLAKE CAPITAL PARTNERS, INC. 
