Director David Weinstein Sells 15,324 Shares of NewLake Capital Partners Inc (NLCP)

On August 15, 2024, David Weinstein, a principal at NewLake Capital Partners Inc (NLCP), conducted a sale of 15,324 shares of the company’s stock. The transaction was filed with the SEC the same day. Following this transaction, the insider now owns 78,499 shares of NewLake Capital Partners Inc.

NewLake Capital Partners Inc. is engaged in the acquisition, ownership and management of specialty industrial and retail properties that are leased to state licensed operators for their regulated cannabis facilities.

Over the past year, David Weinstein has sold a total of 62,815 shares and purchased no shares in the company. This recent selling is part of a larger trend seen within the company, with 5 insider sales and 6 insider purchases in the past year.

Shares of NewLake Capital Partners Inc were trading at $20.76 on the day of the transaction. The company has a market capitalization of $410.211 million. The stock’s price-to-earnings ratio is 16.06, which is lower than both the industry median of 16.835 and the company’s historical median.

According to GF Value, the intrinsic value estimate for NewLake Capital Partners Inc, which takes into account historical trading multiples, an adjustment factor based on past returns and growth, and future estimates of business performance, the stock is fairly valued at a GF Value of $20.74. This results in a price-to-GF Value ratio of 1.

This insider sale may be of interest to investors who want to keep an eye on NewLake Capital Partners Inc.’s insider behavior and valuation metrics, especially given the company’s current market position and valuation status.

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This article previously appeared on GuruFocus.