NewLake Capital Partners Director Sells Over $129k in Company Stock

David L. Weinstein, Director at NewLake Capital Partners, Inc. (OTCMKTS: NLCP), recently sold a substantial portion of his shares in the company. The transactions, occurring on March 15 and March 18, 2024, involved the sale of 7,449 shares of common stock, totaling approximately $129,322.

Weinstein executed these sales at various prices, ranging from $17.07 to $17.70 per share. Specifically, on March 15, 4,007 shares were sold at an average price of $17.07, while on March 18, an additional 3,442 shares were sold at an average of $17.70 per share. The highest and lowest prices achieved on these dates were $17.30 and $16.71 on March 15, and $17.80 and $17.60 on March 18, respectively.

Following these transactions, Weinstein’s holdings in NewLake Capital Partners decreased, though he still retains 114,347 shares of the company’s common stock. These sales were reportedly made to cover tax obligations related to previously vested and delivered equity grants under the company’s 2021 Equity Incentive Plan.

Insider transactions like these are closely monitored by investors for insights into a company’s financial health and executive sentiment. NewLake Capital Partners, a real estate investment trust focused on the cannabis industry, trades over the counter and is subject to market fluctuations influenced by sector conditions and company performance.

The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, providing transparency into the trading activities of the company’s directors and executives.

InvestingPro Insights:

Against the backdrop of Director David L. Weinstein’s recent insider share sales, NewLake Capital Partners, Inc. (OTCMKTS: NLCP) exhibits robust financial metrics and market performance. According to InvestingPro data, the company boasts a market capitalization of $352.82 million, reflecting investor confidence. The P/E Ratio stands at an attractive 14.55, with an adjusted P/E Ratio for the last twelve months at an even lower 14.14, suggesting potential undervaluation compared to earnings.

InvestingPro Tips emphasize NewLake Capital Partners’ shareholder-focused approach, including an aggressive share buyback strategy and a high shareholder yield. Additionally, the company maintains a healthy balance sheet with more cash than debt, indicating financial stability. With a significant dividend yield of 9.7%, NewLake Capital Partners has consistently increased dividends over the past three years, underscoring its commitment to shareholder returns.

For in-depth analysis and strategic insights into NewLake Capital Partners, InvestingPro offers additional tips. Accessing these tips on InvestingPro could provide further clarity on valuation multiples, profitability, and analysts’ forecasts for the year ahead.

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