secwatch.observer — SEC 8-K summary
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Issuer:     NewLake Capital Partners, Inc. (NLCP)
CIK:        0001854964
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001854964-24-000039
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

NewLake Q2 revenue $12.5M (+9.5% YoY); AFFO $11.0M; dividend raised to $0.43
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- Revenue $12.5M, net income $6.8M; FFO $10.5M (+11.3% YoY), AFFO $11.0M (+11.2% YoY).
- Third consecutive quarterly dividend increase to $0.43/share ($1.72 annualized); AFFO payout ratio 82%.
- Purchased CT cultivation facility for ~$4.0M with $12.0M improvement commitment; leased to existing tenant affiliate.
- Entered $50M ATM program (no shares issued as of June 30); $82.4M available under $90M revolver at 5.65%.
- Cash $20.7M; funded $11.4M in tenant improvements H1 2024, plus $1.2M post-quarter in AZ and PA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854964/000185496424000039/0001854964-24-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854964/000185496424000039/nlcp-20240807.htm
  HTML page:      https://secwatch.observer/filing/0001854964-24-000039

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