NewLake Capital Partners
NLCPMarket price data through July 31, 2026.
Performance
Aug 2021 – Jul 2026
Track record
How this pick has done since Benson first called it.
- Benson Return
- -2%
- How much this stock is up since Benson first picked it — measured from the price at the time of that first pick, not from today.
- First pick price
- ~$16
- Roughly what one share cost when Benson first picked this stock. This is the starting line for the Benson Return.
- Tracking since
- February 2026
- The month this stock first became a Benson pick.
- Tracking duration
- 5 months
- How long Benson has been tracking this pick.
About NewLake Capital Partners
NewLake Capital Partners is a real estate investment trust that owns properties leased to licensed cannabis companies across the US. Think of them as the landlord collecting rent from marijuana growers and dispensaries in states where cannabis is legal. They own 34 properties, run net margins above 51%, and pay one of the highest dividend yields in the REIT world at over 11%.
The case for and against
Both sides of the story, in plain English.
- Margin Machine
NewLake turns more than 51 cents of every revenue dollar into profit, an absurdly high net margin for a real estate company. Revenue still grew 1.88% year over year despite tenant headwinds, and the dividend yield sits above 11%, more than double the average REIT. With almost zero debt and a portfolio of 34 properties, this cash machine keeps humming.
- Rescheduling Tailwind
Cannabis is moving from Schedule 1 to Schedule 3, a change that could save NewLake's tenants over 400 million dollars a year in taxes. Healthier tenants means more reliable rent on the 15 cultivation facilities and 19 dispensaries NewLake owns. Once banking reform passes, the company plans to uplist from the OTC to NASDAQ, opening the door to institutional buyers.
- Tenant Trouble
Several cannabis tenants are still wrestling with heavy debt, and NewLake has 3 vacant properties out of 34. The top 3 tenants make up close to 50% of total rent, so if a major operator like Curaleaf hit serious financial trouble, NewLake's income would take a real hit and the dividend could come under pressure.
- Slow Growth
Top line growth came in at just 1.88% this period, a reminder that NewLake is not a fast grower while cannabis reform drags on. With most institutional money still locked out by the OTC listing, the stock can stay range bound until federal banking access actually arrives, and any delay pushes the rerate further into the future.
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How to read this page
This automated research summary uses Financial Modeling Prep market data through 2026-07-31. Model signals, scores, and risk labels can change and may be incomplete or wrong.
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