Director David Weinstein has sold 13,401 shares of NewLake Capital Partners Inc (OTCPK:NLCP) on March 13, 2024, according to a recent SEC filing. The transaction was executed at an average price of $16.44 per share, resulting in a total value of $220,272.44.
NewLake Capital Partners Inc is a real estate investment trust focused on acquiring and managing a diversified portfolio of industrial and retail properties leased to state-licensed operators in the cannabis industry. The company's strategy involves the acquisition of real estate assets for the cannabis industry, including cultivation spaces and dispensaries, with a focus on high-quality, long-term leases.
Over the past year, the insider, David Weinstein, has sold a total of 16,401 shares of the company and has not made any purchases of the stock. The recent sale represents a significant portion of Weinstein's transactions over the period.
The insider transaction history for NewLake Capital Partners Inc shows a pattern of insider activity. There have been 7 insider buys and 2 insider sells over the past year. This activity provides a glimpse into the sentiment insiders have about the stock's future performance.
On the valuation front, NewLake Capital Partners Inc's shares were trading at $16.44 on the day of the insider's sale, giving the company a market cap of $336.463 million. The price-earnings ratio of the company stands at 14.27, which is lower than the industry median of 16.83 and also below the company’s historical median price-earnings ratio. This valuation metric suggests that the stock is trading at a price level less expensive than its peers and its own historical valuation.
For investors monitoring insider behaviors, such transactions can serve as informative indicators. However, it is important to consider a wide range of factors when evaluating the potential implications of insider trades.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
