---
schema_version: "secwatch.filing_event.v1"
accession: "0001854964-23-000014"
form_type: "8-K"
ticker: "NLCP"
cik: "0001854964"
company_name: "NewLake Capital Partners, Inc."
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T07:05:34.677924+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# NewLake Q1 revenue $11.4M (+12.3% YoY); net income $5.9M; tenant non-payment weighs

## Summary
- Revenue $11.4M, up 12.3% YoY but down 6.8% sequentially due to one non-paying tenant.
- Net income $5.9M; FFO $9.5M; AFFO $9.9M; AFFO payout ratio 86% on $0.39 dividend.
- Repurchased 49,307 shares at avg $12.63; $9.4M remaining under $10M buyback program.
- Non-performing tenant failed to pay rent; applied $315K security deposit; in negotiations.
- Acquired adjacent Missouri parcel for $350K; committed $16.2M tenant improvements for expansion.

## SEC filing metadata
- accession: 0001854964-23-000014
- form_type: 8-K
- ticker: NLCP
- cik: 0001854964
- company_name: NewLake Capital Partners, Inc.
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854964/000185496423000014/0001854964-23-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854964/000185496423000014/nclp-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001854964-23-000014
- JSON: https://secwatch.observer/filing/0001854964-23-000014.json
- Plain text: https://secwatch.observer/filing/0001854964-23-000014.txt

## Key facts
- Earnings Releases
  NewLake Capital Partners, Inc. reported first quarter ended March 31, 2023 results: revenue $11.4 Million, net income $5.9 Million.
  - Period: first quarter ended March 31, 2023
  - Revenue: $11.4 Million
  - Net income: $5.9 Million
  - Result: reported results
  source text: NewLake Capital Partners Reports First Quarter 2023 Financial Results First Quarter 2023 Revenue Totaled $11.4 Million, an increase of 12.3% Year-Over-Year First Quarter 2023 Net Income Attributable to Common Stockholders totaled $5.9 Million, Funds From Operations totaled $9.5 Million, and Adjusted Funds From Operations totaled $9.9 Million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854964/000185496423000014/0001854964-23-000014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.