Marijuana REIT NewLake Q2 Revenue Up 9.48% YoY, Reports Third Consecutive Quarterly Dividend Increase
Cannabis REIT NewLake Capital Partners, Inc. (OCTQX:NLCP) reported second-quarter earnings with revenue of $12.5 million, up 9.48% from $11.38 million.
“We are pleased with our second quarter results, which led to our third consecutive quarterly dividend increase,” Anthony Coniglio, president and chief executive officer stated. “We believe there are many positive catalysts on the horizon for the cannabis sector and it is an exciting time to be part of this growing industry. With an under-levered balance sheet and ample capital availability, we are well positioned to build upon our Q2 acquisition activity and continue to invest in cannabis real estate.”
Q2 2024 Financial Highlights Compared Q2 2023
Net income attributable to common stockholders totaled $6.8 million, as compared to $5.8 million.
Funds from operations totaled $10.5 million., as compared …