Quarterly ResultAug 5, 2026, 05:34 PM
NewLake Capital Q2 Revenue $12.1M; Net Income $5.9M; AFFO $10.3M
AI Summary
NewLake Capital Partners reported its second quarter 2026 financial results, with total revenue of $12.1 million and net income of $5.9 million. Adjusted Funds From Operations (AFFO) reached $10.3 million, and the company declared a dividend of $0.43 per share. The company also announced the amendment of its revolving credit facility, extending its maturity to May 2029 and reducing borrowing costs, alongside the acquisition of a dispensary in Kentucky. Despite a decrease in revenue year-over-year due to properties available for lease, the company maintained 100% contractual rent collection and highlighted disciplined capital allocation.
Key Highlights
- Total revenue for Q2 2026 was $12.1 million, a 6.5% decrease YoY.
- Net income attributable to common stockholders was $5.9 million, or $0.29 per share.
- Adjusted Funds From Operations (AFFO) totaled $10.3 million, or $0.49 per share.
- Declared a Q2 dividend of $0.43 per share, an 88% AFFO payout ratio.
- Amended $90.0 million revolving credit facility, extending maturity to May 2029 and lowering interest rate.
- Acquired a Kentucky dispensary for $0.6 million, committing $1.6 million for improvements.
- Maintained 100% contractual rent collection, including from The Cannabist Company despite its restructuring.
Price Impact
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