NewLake Capital Partners (OTCMKTS:NLCP) Shares Up 0.6% – Here’s Why

NewLake Capital Partners, Inc. (OTCMKTS:NLCP – Get Free Report)’s stock price rose 0.6% during trading on Monday. The company traded as high as $15.18 and last traded at $15.01. Approximately 50,777 shares changed hands during trading, a decline of 41% from the average session volume of 86,472 shares. The stock had previously closed at $14.92.

NewLake Capital Partners Trading Up 0.6%

The company’s 50-day simple moving average is $15.58 and its two-hundred day simple moving average is $15.21.

Institutional Trading of NewLake Capital Partners

An institutional investor recently bought a new stake in NewLake Capital Partners stock. Compass Financial Management LLC bought a new position in NewLake Capital Partners, Inc. (OTCMKTS:NLCP – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 81,629 shares of the company’s stock, valued at approximately $1,303,000.

NewLake Capital Partners Company Profile

(Get Free Report)

NewLake Capital Partners, Inc is a real estate investment trust focused on owning and managing properties used by state-licensed cannabis operators in the United States. The company provides real estate capital to cannabis businesses by acquiring cultivation, processing, and retail facilities and leasing those properties to established operators.

NewLake generally uses long-term, triple-net lease arrangements, under which tenants are responsible for most property-level expenses, including taxes, insurance, and maintenance.

Further Reading

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