Quarterly ResultMay 8, 2026, 06:12 AM
NewLake Capital Q1 Revenue $12.3M; AFFO $10.1M; Dividend $0.43
AI Summary
NewLake Capital Partners reported Q1 2026 financial results with total revenue of $12.3 million and Adjusted Funds From Operations (AFFO) of $10.1 million. The company declared a quarterly dividend of $0.43 per share. While revenue and AFFO decreased year-over-year due to property vacancies, management highlighted 100% rent collection and expressed optimism regarding the recent rescheduling of medical cannabis to Schedule III, which is expected to improve tenant operating environments.
Key Highlights
- Q1 2026 total revenue was $12.3 million, a 6.8% decrease from Q1 2025.
- Q1 2026 Net Income attributable to common stockholders was $5.8 million, or $0.28 per share.
- Q1 2026 Adjusted Funds From Operations (AFFO) totaled $10.1 million, or $0.48 per share.
- Declared a Q1 dividend of $0.43 per share, representing a 90% AFFO payout ratio.
- Cash and cash equivalents were $24.8 million, with total liquidity of $107.2 million as of March 31, 2026.
- Debt to total gross assets was 1.6%, with no debt maturities until May 2027.
- Medical cannabis rescheduled to Schedule III, expected to eliminate 280E tax burden for operators.
- Three cultivation facilities remain vacant and are actively being marketed for lease.