NewLake Capital Partners Inc
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 13, 2024
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Consolidated Statements of Cash Flows
(In thousands)
| For the Nine Months Ended | ||
|---|---|---|
| September 30, 2024 | September 30, 2023 | |
| Cash Flows from Operating Activities: | ||
| Net Income | $20,450 | $17,935 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ||
| Stock-Based Compensation | 1,223 | 1,060 |
| Depreciation and Amortization Expense | 10,920 | 10,698 |
| Amortization of Debt Issuance Costs | 202 | 201 |
| Amortization of Debt Discount | — | 10 |
| Provision for Credit Loss | (38) | — |
| Non-Cash Lease Expense | (2) | — |
| Non-Cash Application of Rent Escrow | (299) | — |
| Non-Cash Application of Security Deposit | — | (945) |
| Changes in Assets and Liabilities | ||
| Other Assets | (123) | 22 |
| Accounts Payable and Accrued Expenses | 128 | (659) |
| Security Deposits | 677 | 510 |
| Rent Received in Advance | (322) | (468) |
| Other Liabilities | (96) | (761) |
| Net Cash Provided by Operating Activities | 32,720 | 27,603 |
| Cash Flows from Investing Activities: | ||
| Funding of Building and Tenant Improvements | (13,964) | (5,609) |
| Acquisition of Real Estate | (3,993) | (350) |
| Net Cash Used in Investing Activities | (17,957) | (5,959) |
| Cash Flows from Financing Activities: | ||
| Repurchase of Common Stock | — | (9,254) |
| Cash Paid for Taxes in Lieu of Issuance of Common Stock | (46) | — |
| Common Stock Dividends Paid | (25,430) | (24,987) |
| Restricted Stock Unit Dividends Paid | (143) | (65) |
| Distributions to OP Unitholders | (463) | (437) |
| Borrowings from Revolving Credit Facility | 6,600 | — |
| Principal Repayment on Loan Payable | (1,000) | (1,000) |
| Deferred Financing Costs | — | (28) |
| Deferred Offering Costs | (291) | — |
| Net Cash Used in Financing Activities | (20,773) | (35,771) |
| Net (Decrease) in Cash and Cash Equivalents | (6,010) | (14,127) |
| Cash and Cash Equivalents - Beginning of Period | 25,843 | 45,192 |
| Cash and Cash Equivalents - End of Period | $19,833 | $31,065 |
| Supplemental Disclosure of Cash Flow Information: | ||
| Interest Paid | $195 | $123 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities: | ||
| Dividends and Distributions Declared, Not Paid | $9,009 | $8,231 |
| Accrual for Deferred Offering Costs | $7 | $— |
| Conversion of OP Units to Common Stock | $19 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.