Cannabis REIT NewLake: 9.3% YoY Q3 Revenue Growth Despite Tenant Challenges, CEO Optimistic
NewLake Capital Partners, Inc. (OCTQX: NLCP) announced its financial results Wednesday for the third quarter ended Sept. 30, 2024.
The Connecticut-based company said third-quarter revenue totaled $12.6 million, representing an increase of 9.3% year-over-year.
Anthony Coniglio, NewLake’s president and CEO, called quarterly financial results solid. He is optimistic regarding cannabis prospects under the new Donald Trump administration.
“With the president-elect expressing support for Adult Use, Schedule 3, and legislation that would decriminalize cannabis at the federal level, we remain optimistic about cannabis reform and the prospects for growth as we supply much-needed capital to this dynamic industry,” Coniglio said in a statement.
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