NewLake Capital Partners, Inc. (OTCMKTS:NLCP) to Issue Quarterly Dividend of $0.43

NewLake Capital Partners, Inc. (OTCMKTS:NLCP) declared a quarterly dividend on Wednesday, June 12th, NASDAQ reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.43 per share on Monday, July 15th. This represents a $1.72 annualized dividend and a yield of 8.51%. The ex-dividend date is Friday, June 28th. This is an increase from NewLake Capital Partners’s previous quarterly dividend of $0.41.

NewLake Capital Partners Stock Down 0.6 %

Shares of NLCP traded down $0.13 during mid-day trading on Wednesday, hitting $20.20. 23,623 shares of the company’s stock were exchanged, compared to its average volume of 41,439. NewLake Capital Partners has a 52 week low of $12.25 and a 52 week high of $20.87. The stock’s 50-day simple moving average is $19.52 and its 200-day simple moving average is $17.73.

Wall Street Analyst Weigh In

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

About NewLake Capital Partners

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.