secwatch.observer — SEC 8-K summary
======================================

Issuer:     NewLake Capital Partners, Inc. (NLCP)
CIK:        0001854964
Form:       8-K
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0001854964-23-000014
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854964/000185496423000014/0001854964-23-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854964/000185496423000014/nclp-20230510.htm
  HTML page:      https://secwatch.observer/filing/0001854964-23-000014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer