NLCP on OTC
NewLake Capital Partners, Inc.
American real estate investment trust based in New Canaan, active since 2019. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerNLCP on OTC2
- IndustryReal Estate Investment Trusts2
- HeadquartersNew Canaan, United States2
- Incorporated inMD3
- Business address50 Locust Avenue, New Canaan, Ct 068403
- Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3
- Legal formStock Corporation2
- LEI549300SW6G33FGNP23382
- StatusActive2
- LEI statusIssued and current2
- Registered addressc/o THE CORPORATION TRUST INCORPORATED 2405 YORK ROAD SUITE 201, 21093 Lutherville, United States2
- Registered withBusiness Services (Maryland Department of Assessments and Taxation), D198293402
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NewLake Capital Partners, Inc., (the “Company” “we,” “our,” “us,”), a Maryland corporation, was formed on April 9, 2019 under the Maryland General Corporation Law, as GreenAcreage Real Estate Corp. (“GARE”) and subsequently changed our name to NewLake Capital Partners, Inc. We are an internally managed real estate investment trust (“REIT”) focused on providing real estate capital to state-licensed cannabis operators through sale-leaseback transactions, third-party purchases and funding for build-to-suit projects. We elected to be taxed as a REIT beginning with our short taxable year ended December 31, 2019 and intend to continue to operate our business so as to continue to qualify as a REIT.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs48¢$24.8M
- Profit52¢$26.3M
Out of $51.1M in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Dividends paid83¢$35.3M
- Kept or used elsewhere17¢$7.1M
Out of $42.5M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Rental Income | $49.5M | $48.9M |
| Interest Income from Loans | $545.0K | $533.0K |
| Fees and Reimbursables | $989.0K | $672.0K |
| Total Revenue | $51.1M | $50.1M |
| Reimbursable Property Expenses | $811.0K | $239.0K |
| Property Carrying Costs | $379.0K | $0 |
| Depreciation and Amortization Expense | $15.5M | $14.7M |
| Compensation Expense | $3.8M | $4.7M |
| Professional Fees | $1.4M | $1.5M |
| Other General and Administrative Expenses | $1.9M | $1.7M |
| Total General and Administrative Expenses | $7.1M | $7.9M |
| Total Expenses | $23.8M | $22.9M |
| Loss on Sale of Real Estate | -$34.0K | $0 |
| Provision for Current Expected Credit Loss | $45.0K | $51.0K |
| Impairment Loss on Warrants | $0 | -$522.0K |
| Income From Operations | $27.3M | $26.8M |
| Other Income | $357.0K | $354.0K |
| Interest Expense | -$839.0K | -$565.0K |
| Total Other Income (Expense) | -$482.0K | -$211.0K |
| Net Income | $26.8M | $26.6M |
| Net Income Attributable to Noncontrolling Interests | -$451.0K | -$468.0K |
| Net Income Attributable to Common Stockholders | $26.3M | $26.1M |
| Net income attributable to common stockholders per share - basic (in dollars per share) | $1.28 | $1.27 |
| Net income attributable to common stockholders per share - diluted (in dollars per share) | $1.28 | $1.27 |
| Weighted average shares of common stock outstanding - basic (in shares) | 20.6M shares | 20.6M shares |
| Weighted average shares of common stock outstanding - diluted (in shares) | 21.0M shares | 21.0M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2025-11-30 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Land | $22.9M | $22.9M | ||
| Building and Improvements | $405.0M | $408.6M | ||
| Total Real Estate | $427.9M | $431.4M | ||
| Less Accumulated Depreciation | -$57.9M | -$44.7M | ||
| Net Real Estate | $370.0M | $386.7M | ||
| Real Estate Held for Sale | $4.8M | $4.8M | $0 | |
| Cash and Cash Equivalents | $23.9M | $20.2M | ||
| In-Place Lease Intangible Assets, net | $15.7M | $17.8M | ||
| Loan Receivable, net (Current Expected Credit Loss of $71 and $116, respectively) | $4.9M | $4.9M | ||
| Other Assets | $1.5M | $1.9M | ||
| Total Assets | $420.8M | $431.5M | ||
| Accounts Payable and Accrued Expenses | $1.3M | $1.5M | ||
| Revolving Credit Facility | $7.6M | $7.6M | ||
| Dividends and Distributions Payable | $9.2M | $9.2M | ||
| Security Deposits | $6.7M | $8.1M | ||
| Rent Received in Advance | $1.0M | $684.0K | ||
| Other Liabilities | $324.0K | $402.0K | ||
| Total Liabilities | $26.1M | $27.6M | ||
| Preferred Stock, $0.01 Par Value, 100,000,000 Shares Authorized, 0 Shares Issued and Outstanding, respectively | $0 | $0 | ||
| Common Stock, $0.01 Par Value, 400,000,000 Shares Authorized, 20,552,632 and 20,514,583 Shares Issued and Outstanding, respectively | $205.0K | $205.0K | ||
| Additional Paid-In Capital | $447.2M | $446.6M | ||
| Accumulated Deficit | -$59.4M | -$50.1M | ||
| Total Stockholders' Equity | $387.9M | $396.8M | ||
| Noncontrolling Interests | $6.7M | $7.2M | ||
| Total Equity | $394.7M | $404.0M | $412.0M | |
| Total Liabilities and Equity | $420.8M | $431.5M | ||
| Allowance for credit losses | $71.0K | $116.0K | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 400.0M shares | 400.0M shares | ||
| Common stock, shares issued (in shares) | 20.6M shares | 20.5M shares | ||
| Common stock, shares outstanding (in shares) | 20.6M shares | 20.5M shares |
| Period ending | 2025-12-31 | 2025-11-30 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Land | $22.9M | $22.9M | ||
| Building and Improvements | $405.0M | $408.6M | ||
| Total Real Estate | $427.9M | $431.4M | ||
| Less Accumulated Depreciation | -$57.9M | -$44.7M | ||
| Net Real Estate | $370.0M | $386.7M | ||
| Real Estate Held for Sale | $4.8M | $4.8M | $0 | |
| Cash and Cash Equivalents | $23.9M | $20.2M | ||
| In-Place Lease Intangible Assets, net | $15.7M | $17.8M | ||
| Loan Receivable, net (Current Expected Credit Loss of $71 and $116, respectively) | $4.9M | $4.9M | ||
| Other Assets | $1.5M | $1.9M | ||
| Total Assets | $420.8M | $431.5M | ||
| Accounts Payable and Accrued Expenses | $1.3M | $1.5M | ||
| Revolving Credit Facility | $7.6M | $7.6M | ||
| Dividends and Distributions Payable | $9.2M | $9.2M | ||
| Security Deposits | $6.7M | $8.1M | ||
| Rent Received in Advance | $1.0M | $684.0K | ||
| Other Liabilities | $324.0K | $402.0K | ||
| Total Liabilities | $26.1M | $27.6M | ||
| Preferred Stock, $0.01 Par Value, 100,000,000 Shares Authorized, 0 Shares Issued and Outstanding, respectively | $0 | $0 | ||
| Common Stock, $0.01 Par Value, 400,000,000 Shares Authorized, 20,552,632 and 20,514,583 Shares Issued and Outstanding, respectively | $205.0K | $205.0K | ||
| Additional Paid-In Capital | $447.2M | $446.6M | ||
| Accumulated Deficit | -$59.4M | -$50.1M | ||
| Total Stockholders' Equity | $387.9M | $396.8M | ||
| Noncontrolling Interests | $6.7M | $7.2M | ||
| Total Equity | $394.7M | $404.0M | $412.0M | |
| Total Liabilities and Equity | $420.8M | $431.5M | ||
| Allowance for credit losses | $71.0K | $116.0K | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 400.0M shares | 400.0M shares | ||
| Common stock, shares issued (in shares) | 20.6M shares | 20.5M shares | ||
| Common stock, shares outstanding (in shares) | 20.6M shares | 20.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net Income | $26.8M | $26.6M |
| Stock-Based Compensation | $1.1M | $1.7M |
| Loss on Sale of Real Estate | $34.0K | $0 |
| Depreciation and Amortization Expense | $15.5M | $14.7M |
| Amortization of Debt Issuance Costs | $269.0K | $269.0K |
| Provision for Credit Loss | -$45.0K | -$51.0K |
| Straight-Line Rent Expense | -$5.0K | -$3.0K |
| Application of Rent Escrow | -$446.0K | -$1.2M |
| Application of Security Deposit | -$957.0K | $0 |
| Impairment Loss on Warrants | $0 | $522.0K |
| Write-off of Deferred Offering Costs | $233.0K | $0 |
| Other Assets | $0 | $124.0K |
| Accounts Payable and Accrued Expenses | -$208.0K | $398.0K |
| Security Deposits | $14.0K | $711.0K |
| Rent Received in Advance | $329.0K | -$306.0K |
| Other Liabilities | -$112.0K | -$75.0K |
| Net Cash Provided by Operating Activities | $42.5M | $43.3M |
| Refund of Capitalized Acquisition Closing Costs | $0 | $3.0K |
| Funding of Improvement Allowances | -$705.0K | -$15.1M |
| Acquisition of Real Estate | -$785.0K | -$4.0M |
| Net Cash Used in Investing Activities | -$1.5M | -$19.1M |
| Tax Withholdings in Lieu of Issuance of Common Stock | -$352.0K | -$84.0K |
| Performance Stock Units Settled in Cash | -$251.0K | $0 |
| Common Stock Dividends Paid | -$35.3M | -$34.2M |
| Restricted Stock Units and Performance Stock Units Dividends Paid | -$442.0K | -$173.0K |
| Distributions to LPI Unitholders | -$621.0K | -$623.0K |
| Cash Redemption of LPI Units | -$253.0K | $0 |
| Borrowings from Revolving Credit Facility | $0 | $6.6M |
| Principal Repayment on Loan Payable | $0 | -$1.0M |
| Deferred Offering Costs | $0 | -$314.0K |
| Net Cash Used in Financing Activities | -$37.2M | -$29.8M |
| Net Increase (Decrease) in Cash and Cash Equivalents | $3.7M | -$5.6M |
| Interest Paid | $556.0K | $303.0K |
| Operating Lease Liability Remeasurement for Right of Use Asset | $85.0K | $0 |
| Nonmonetary Acquisition of Real Estate | $950.0K | $0 |
| Nonmonetary Disposition of Real Estate | $986.0K | $0 |
| Conversion of LPI Units to Common Stock | $0 | $19.0K |
| Common Stock Issued in Lieu of Director Cash Compensation | $13.0K | $26.0K |
| Accrual for PSU Issuance in Cash | $0 | $251.0K |
| Accrual for Tax Withholdings in Lieu of Issuance of Common Stock | $199.0K | $0 |
No quarter-by-quarter statement was filed.
Leadership
Who has led NewLake Capital Partners, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
2025
- Chief executive officerAnthony Coniglio Nov 18, 2022 to now12
- Chief executive officerDavid L. Weinstein Aug 16, 2021 to Aug 16, 202113
- PresidentAnthony Coniglio Dec 16, 2021 to now14
- Chief financial officerLisa Meyer Jun 16, 2022 to now15
Board members and other officers (10)
- OfficerAnthony Coniglio Aug 16, 2021 to Aug 16, 202116
- OfficerFredric S. Starker Aug 16, 2021 to Aug 16, 202117
- Board memberDina Rollman Dec 16, 2024 to now18
- Board memberAlan Jeffrey Carr Aug 16, 2021 to now19
- Board memberAnthony Coniglio Aug 16, 2021 to now16
- Board memberDavid L. Weinstein Aug 16, 2021 to now13
- Board memberGordon F. Dugan Aug 16, 2021 to now20
- Board memberJoyce Johnson Aug 16, 2021 to now21
- Board memberPeter A. Kadens Aug 16, 2021 to now22
- Board memberPeter Wiser Martay Aug 16, 2021 to now23
Timeline
Filings
229 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 110 insider forms, 3 large holders, 49 other. The latest 20:
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 5, 20268-K EDGAR
- Jul 15, 20268-K EDGAR
- Jun 8, 20264 EDGAR
- Jun 8, 20264 EDGAR
- Jun 8, 20268-K EDGAR
- Jun 8, 20264 EDGAR
- Jun 8, 20264 EDGAR
- Jun 8, 20264 EDGAR
- Jun 8, 20264 EDGAR
- May 15, 2026SCHEDULE 13G/A EDGAR
- May 14, 20264 EDGAR
- May 8, 202610-Q EDGAR
- May 8, 20268-K EDGAR
- Apr 23, 2026ARS EDGAR
- Apr 23, 2026DEFA14A EDGAR
- Apr 23, 2026DEF 14A EDGAR
- Mar 12, 20264 EDGAR
- Mar 12, 20264 EDGAR
The 229 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
44 open-market trades by officers, directors and large owners since October 2021: 26 buys and 18 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 13, 2026 | Coniglio AnthonyPresident and CEO | Buy | 350 | $14.33 | $5.0K | Form 4 |
| Nov 7, 2025 | Coniglio AnthonyPresident and CEO | Buy | 500 | $13.07 | $6.5K | Form 4 |
| Sep 25, 2025 | Weinstein David L.Director | Sale | 12,633 | $14.02 | $177.1K | Form 4 |
| Aug 20, 2025 | Weinstein David L.Director | Sale | 2,388 | $13.86 | $33.1K | Form 4 |
| Aug 19, 2025 | Weinstein David L.Director | Sale | 11,612 | $14.13 | $164.1K | Form 4 |
| Aug 8, 2025 | Weinstein David L.Director | Sale | 3,620 | $13.80 | $50.0K | Form 4 |
| Mar 24, 2025 | Coniglio AnthonyPresident and CEO | Buy | 700 | $15.10 | $10.6K | Form 4 |
| Dec 18, 2024 | Weinstein David L.Director | Sale | 6,000 | $19.20 | $115.2K | Form 4 |
| Dec 17, 2024 | Weinstein David L.Director | Sale | 3,856 | $19.44 | $75.0K | Form 4 |
| Aug 22, 2024 | Weinstein David L.Director | Sale | 6,226 | $20.55 | $127.9K | Form 4 |
| Aug 22, 2024 | Weinstein David L.Director | Sale | 6,026 | $20.56 | $123.9K | Form 4 |
| Aug 16, 2024 | Weinstein David L.Director | Sale | 8,650 | $20.43 | $176.7K | Form 4 |
| Aug 15, 2024 | Weinstein David L.Director | Sale | 7,374 | $20.68 | $152.5K | Form 4 |
| Aug 14, 2024 | Weinstein David L.Director | Sale | 7,950 | $20.84 | $165.7K | Form 4 |
| Aug 13, 2024 | Weinstein David L.Director | Sale | 12,516 | $20.43 | $255.7K | Form 4 |
| Aug 12, 2024 | Weinstein David L.Director | Sale | 11,125 | $20.41 | $227.1K | Form 4 |
| Mar 28, 2024 | DUGAN GORDON FDirector | Buy | 520 | $19.12 | $9.9K | Form 4 |
| Mar 28, 2024 | Coniglio AnthonyPresident and CEO | Buy | 350 | $19.22 | $6.7K | Form 4 |
| Mar 20, 2024 | Coniglio AnthonyPresident and CEO | Buy | 100 | $18.38 | $1.8K | Form 4 |
| Mar 19, 2024 | Coniglio AnthonyPresident and CEO | Buy | 300 | $17.96 | $5.4K | Form 4 |
All 44 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- HG Vora Capital Management, LLCSCHEDULE 13G/A, 3 filings Feb 14, 2023 to Aug 14, 202624
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Compass Financial Management LLC | 81,629 | $1.3M | 0.2% | New |
| Ancora Advisors LLC | 55,450 | $885.0K | 0.0% | +19,280 |
| Luminist Capital LLC | 400 | $6.4K | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 14SEC EDGARAnthony Coniglio, President
- 15SEC EDGARLisa Meyer, Chief financial officer
- 16SEC EDGARAnthony Coniglio, Officer
- 17SEC EDGARFredric S. Starker, Officer
- 18SEC EDGARDina Rollman, Board member
- 19SEC EDGARAlan Jeffrey Carr, Board member
- 20SEC EDGARGordon F. Dugan, Board member
- 21SEC EDGARJoyce Johnson, Board member
- 22SEC EDGARPeter A. Kadens, Board member
- 23SEC EDGARPeter Wiser Martay, Board member
- 24