Added to YB: 2025-12-18
Pitch date: 2025-12-16
NLCP [bullish]
NewLake Capital Partners, Inc.
-0.87%
current return
Author Info
No bio for this author
Company Info
NewLake Capital Partners, Inc. is an internally-managed real estate investment trust (“REIT”) that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects.
Market Cap
$280.3M
Pitch Price
$13.87
Price Target
25.00 (+81%)
Dividend
12.61%
EV/EBITDA
6.28
P/E
10.69
EV/Sales
5.29
Sector
Industrial REITs
Category
special_situation
Investment Thesis: NewLake Capital Partners (OTCQX: NLCP) — The Structural Alpha in Regulated Cannabis Real Estate
NLCP: Cannabis REIT at 14% yield, 39% discount to NAV. Schedule III rescheduling catalyst eliminates 280E tax burden, instantly improving tenant coverage ratios. Fortress balance sheet w/ $23.6M cash vs $7.6M debt. Despite Revolutionary Clinics vacancy & C3 workout, maintained 80% dividend coverage. Target $18 (10.5x AFFO). Bull case: uplisting + reform = 100%+ return.
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