Quarterly ResultAug 6, 2026, 06:11 AM
NewLake Capital Q2 Revenue Down 6.5%; Net Income Down 19.5%
AI Summary
NewLake Capital Partners reported a decline in its second quarter 2026 financial results, with total revenue decreasing by 6.5% to $12.09 million and net income attributable to common stockholders dropping 19.5% to $5.90 million. Basic EPS for the quarter was $0.29, down from $0.36 in the prior year. The company noted that a significant tenant, The Cannabist Company, is undergoing restructuring proceedings, though it remains current on lease payments. Despite the financial downturn, NewLake maintains $82.4 million in available funds under its revolving credit facility and is in compliance with all covenants.
Key Highlights
- Q2 2026 total revenue decreased 6.5% to $12.09 million from $12.93 million year-over-year.
- Q2 2026 net income attributable to common stockholders fell 19.5% to $5.90 million.
- Basic earnings per share for Q2 2026 was $0.29, down from $0.36 in Q2 2025.
- Total assets decreased to $414.85 million as of June 30, 2026, from $420.83 million at year-end 2025.
- The company has $7.6 million outstanding on its revolving credit facility with $82.4 million available.
- A major tenant, The Cannabist Company, is undergoing restructuring proceedings, but remains current on lease obligations.
- NewLake Capital Partners owns 34 properties across 12 states.
- One property with a carrying amount of $4.8 million is held for sale, with make-whole protection from the tenant.
Price Impact
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