NewLake Capital Partners (OTCMKTS:NLCP) Trading Down 0%

Posted by Alphonse Anthony on May 9th, 2024

Shares of NewLake Capital Partners, Inc. (OTCMKTS:NLCP – Get Free Report) were down 0% on Wednesday . The company traded as low as $20.20 and last traded at $20.28. Approximately 51,607 shares traded hands during trading, an increase of 34% from the average daily volume of 38,612 shares. The stock had previously closed at $20.29.

Analyst Upgrades and Downgrades

Separately, Compass Point raised NewLake Capital Partners from a “neutral” rating to a “buy” rating and set a $18.25 price objective for the company in a report on Thursday, March 14th.

Read Our Latest Analysis on NewLake Capital Partners

NewLake Capital Partners Price Performance

The firm has a 50-day moving average of $18.19 and a 200 day moving average of $16.12.

NewLake Capital Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.41 dividend. This is a positive change from NewLake Capital Partners’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 8.09%. The ex-dividend date was Wednesday, March 27th.

About NewLake Capital Partners

(Get Free Report)

NewLake Capital Partners, Inc is an internally-managed real estate investment trust 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. NewLake owns a portfolio of 31 properties comprised of 14 cultivation facilities and 17 dispensaries that are leased to single tenants on a triple-net basis.