Short Interest in NewLake Capital Partners, Inc. (OTCMKTS:NLCP) Grows By 34.0%

NewLake Capital Partners, Inc. (OTCMKTS:NLCP) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 42,600 shares, a growth of 34.0% from the March 15th total of 31,800 shares. Based on an average daily volume of 117,700 shares, the days-to-cover ratio is currently 0.4 days.

NewLake Capital Partners Stock Down 0.8 %

Shares of OTCMKTS NLCP opened at $18.20 on Monday. NewLake Capital Partners has a 1-year low of $11.80 and a 1-year high of $19.50. The company has a fifty day moving average price of $17.25 and a 200 day moving average price of $15.43.

NewLake Capital Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a $0.41 dividend. The ex-dividend date is Wednesday, March 27th. 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 yield of 9.01%.

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 research note on Thursday, March 14th.

NewLake Capital Partners Company Profile

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.