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When investors consider acquiring a stock, making an informed decision requires assessing numerous variables, including its fundamentals, historical performance, dividend growth and recent events.
Investors also need to determine whether the time is right to acquire a particular stock. How do analysts perceive the company’s prospects? What was the outcome of the latest quarterly earnings report? What do the technical indicators say about the risk of making a purchase now?
Take a look at one real estate investment trust (REIT) that has been performing well and stands to benefit from the federal legalization of cannabis.
NewLake Capital Partners Inc. NLCP is a New Canaan, Connecticut-based internally managed industrial REIT with 31 properties totaling 1.7 million square feet across 12 states. NewLake Capital Partners specializes in triple-net leases to cannabis companies as well as providing them with capital when necessary. Its market cap is $369.06 million.
NewLake was founded in 2019 and had its initial public offering (IPO) in August 2021. Its tenants include the largest companies in the cannabis industry, such as Curaleaf Holdings Inc. CURLF, Cresco Labs Inc. CRLBF and Trulieve Cannabis Corp. TCNNF. As of March 2024, its properties are 100%, with an average of 14.3 years remaining on its lease terms
