$12M In Rental Income: Why Investors Should Watch This Stock That’s Crushing Averages
In a volatile cannabis market driven by regulatory uncertainty and the upcoming U.S. elections, New Lake Capital Partners (OTC:NLCP) stands out as a stable option for investors seeking consistent returns.
With its cannabis-focused real estate portfolio, NLCP offers strong dividend yields and steady rental income growth, making it an attractive choice amid market turbulence.
According to Pablo Zuanic of Zuanic & Associates, NLCP’s financial performance and dividend yield make it a potentially attractive option for investors navigating the volatile cannabis sector.
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Rental Income Growth And AFFO Strength
NLCP’s rental income for the first half of 2024 increased by 10% year-over-year, reaching $12.2 million, noted Zuanic. The company’s net real estate portfolio (NREP) grew by 2.4% since the end of 2023, bringing its total portfolio yield to an annualized 12.7%.
This is slightly behind its peer, Innovative Industrial Properties (IIPR), which posted a 14.6% yield on its portfolio after a 5% growth since year-end 2022. Despite the slower growth, NLCP’s Adjusted …