---
schema_version: "secwatch.filing_event.v1"
accession: "0001854964-26-000016"
form_type: "8-K"
ticker: "NLCP"
cik: "0001854964"
company_name: "NewLake Capital Partners, Inc."
filed_at: "2026-05-08T23:59:59+00:00"
generated_at: "2026-05-14T21:10:42.269751+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# NewLake Q1 revenue $12.3M (-6.8% YoY); AFFO $0.48/sh; Cannabist enters restructuring

## Summary
- Revenue $12.3M (down 6.8% from $13.2M); net income $5.8M ($0.28 EPS); AFFO $10.1M ($0.48 per share diluted).
- Q1 dividend $0.43/sh (annualized $1.72), paid Apr 15; AFFO payout ratio 90%.
- Tenant Cannabist entered CCAA/Chapter 15 restructuring; full Q1 rent collected, $482K security deposits held.
- Three cultivation properties remain vacant (Pottsville PA, Sparks NV, Fitchburg MA); no Q1 rental income from them.
- Liquidity $107.2M; debt/assets 1.6%; no debt maturities until May 2027; $0.4M unfunded Ohio commitment.

## SEC filing metadata
- accession: 0001854964-26-000016
- form_type: 8-K
- ticker: NLCP
- cik: 0001854964
- company_name: NewLake Capital Partners, Inc.
- filed_at: 2026-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1854964/000185496426000016/0001854964-26-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854964/000185496426000016/nlcp-20260507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001854964-26-000016
- JSON: https://secwatch.observer/filing/0001854964-26-000016.json
- Plain text: https://secwatch.observer/filing/0001854964-26-000016.txt

## Source-grounded claims
- claim_id: 98b96c8f199940036ecbd84cd0c43277984b0b06
  claim: NewLake Capital Partners, Inc. reported the first quarter ended March 31, 2026 results: revenue $12.3 million, net income $5.8 million, EPS $0.28 per share of common stock.
  evidence_excerpt: First Quarter 2026 Revenue Totaled $12.3 Million First Quarter 2026 Net Income Attributable to Common Stockholders Totaled $5.8 Million, Funds from Operations Totaled $9.7 Million, and Adjusted Funds from Operations Totaled $10.1 Million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854964/000185496426000016/0001854964-26-000016-index.htm

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