2024-07-18 10:30:34 ET
Summary
- NLCP stock has continued to drive some top-line growth and generate substantial cash in spite of tough conditions in the cannabis sector.
- NLCP is underleveraged compared to net lease peers, with a net cash position on the balance sheet.
- The stock offers a 9.3% dividend yield, potential for multiple expansion, and an upcoming catalyst from cannabis rescheduling.
- I reiterate my strong buy rating.
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NewLake Capital: 9.3% Dividend Yield, No Net Debt, Rescheduling Catalyst