NLCP: Vacancies and accelerated amortization pressured earnings, while liquidity remained debt-free
Published . Updated .
Key takeaways
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Q3 revenue and common-stockholder earnings declined YoY, partly due to vacant cultivation sites and $1.9M of accelerated amortization. Liquidity remained strong with no revolver debt, while cannabis tenant credit and regulatory risks persist.Original document: NewLake Capital
Directly affected
- No company is named in this report.
Indirectly affected
- TLT iShares 20+ Year Treasury Bond ETF-2.2% 30d
iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story.
- IEF iShares 7-10 Year Treasury Bond ETF-0.8% 30d
iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story.
- XLF Financial Select Sector SPDR-1.4% 30d
Financial Select Sector SPDR: it holds banks. Linked by “credit” (banks) in this story.
- JPM JPMorgan Chase+0.1% 30d
JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story.
- BAC Bank of America-11.4% 30d
Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story.
- DHI D.R. Horton+13.7% 30d
D.R. Horton (operative builders): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story.
- SCHW The Charles Schwab
The Charles Schwab (security brokers, dealers and flotation companies): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story.
- WFC Wells Fargo+4.4% 30d
Wells Fargo (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “credit” (banks) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| TLT | -0.35% | -0.05% | base | +0.18% | after close | after close | after close |
| IEF | -0.44% | -0.16% | base | +0.38% | after close | after close | after close |
| XLF | -3.78% | -2.75% | base | -2.65% | after close | after close | after close |
| JPM | -2.45% | -3.27% | base | -4.29% | after close | after close | after close |
| BAC | -0.95% | -4.00% | base | -3.07% | after close | after close | after close |
| DHI | -6.73% | -2.62% | base | +0.36% | after close | after close | after close |
| SCHW | -4.17% | -4.96% | base | -0.84% | after close | after close | after close |
| WFC | -3.01% | -1.76% | base | -3.00% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
NLCP: Vacancies and accelerated amortization pressured earnings, while liquidity remained debt-free TradingView
Source: TradingView
How far Ishares Tr (TLT) has moved since 5 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Bank Of America (BAC) | that day | -3.07% | final price |
| Bank Of America (BAC) | three days earlier | -4.00% | final price |
| Bank Of America (BAC) | five days earlier | -0.95% | final price |
| Horton D R (DHI) | that day | +0.36% | final price |
| Horton D R (DHI) | three days earlier | -2.62% | final price |
| Horton D R (DHI) | five days earlier | -6.73% | final price |
| Ishares Tr (IEF) | that day | +0.38% | final price |
| Ishares Tr (IEF) | three days earlier | -0.16% | final price |
| Ishares Tr (IEF) | five days earlier | -0.44% | final price |
| Jpmorgan Chase (JPM) | that day | -4.29% | final price |
| Jpmorgan Chase (JPM) | three days earlier | -3.27% | final price |
| Jpmorgan Chase (JPM) | five days earlier | -2.45% | final price |
| Schwab Charles (SCHW) | that day | -0.84% | final price |
| Schwab Charles (SCHW) | three days earlier | -4.96% | final price |
| Schwab Charles (SCHW) | five days earlier | -4.17% | final price |
| Ishares Tr (TLT) | that day | +0.18% | final price |
| Ishares Tr (TLT) | three days earlier | -0.05% | final price |
| Ishares Tr (TLT) | five days earlier | -0.35% | final price |
| WFC | that day | -3.00% | final price |
| WFC | three days earlier | -1.76% | final price |
| WFC | five days earlier | -3.01% | final price |
| XLF | that day | -2.65% | final price |
| XLF | three days earlier | -2.75% | final price |
| XLF | five days earlier | -3.78% | final price |
Trades by members of Congress and officials in the stocks in this story
- Sen. John Boozman bought Ishares Tr (IEF) (jointly held), worth $1,001 - $15,000 on 9 Sep 2026. That is 57 days before publication. Filed 21 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 62 days before publication. Filed 1 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM), worth $15,001 - $50,000 on 4 Sep 2026. That is 62 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 27 Aug 2026. That is 70 days before publication. Filed 4 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 57 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Laurel Lee sold Bank Of America (BAC) (held by a spouse), worth $50,001 - $100,000 on 24 Aug 2026. That is 73 days before publication. Filed 16 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Horton D R (DHI), worth $15,001 - $50,000 on 17 Aug 2026. That is 80 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 41 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $15,001 - $50,000 on 17 Sep 2026. That is 49 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $1,001 - $15,000 on 15 Sep 2026. That is 51 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Ishares Tr (TLT)
Companies carried with this story
- TLT Ishares Tr
In “NLCP: Vacancies and accelerated amortization pressured earnings, while liquidity remained debt-free,” Ishares Tr (TLT) is linked, with no stored direction, medium confidence. Reason on file: iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story
- IEF Ishares Tr
Ishares Tr (IEF) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “NLCP: Vacancies and accelerated amortization pressured earnings, while liquidity remained debt-free.” Reason on file: iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story
- JPM Jpmorgan Chase
Jpmorgan Chase (JPM) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “NLCP: Vacancies and accelerated amortization pressured earnings, while liquidity remained debt-free.” Reason on file: JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story
- BAC Bank Of America
In “NLCP: Vacancies and accelerated amortization pressured earnings, while liquidity remained debt-free,” Bank Of America (BAC) is linked, with no stored direction, medium confidence. Reason on file: Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story
- DHI Horton D R
For “NLCP: Vacancies and accelerated amortization pressured earnings, while liquidity remained debt-free,” Horton D R (DHI) is linked, with no stored direction, medium confidence. Reason on file: D.R. Horton (operative builders): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story
- SCHW Schwab Charles
In “NLCP: Vacancies and accelerated amortization pressured earnings, while liquidity remained debt-free,” Schwab Charles (SCHW) is linked, with no stored direction, medium confidence. Reason on file: The Charles Schwab (security brokers, dealers and flotation companies): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story
Ishares Tr (TLT)
The 5 Nov 2026 story “NLCP: Vacancies and accelerated amortization pressured earnings, while liquidity remained debt-free” names Ishares Tr (TLT) because of this story.
For Ishares Tr (TLT), the reason on file says iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story
Ishares Tr (IEF) is here too. Its reason reads: iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story
Price levels for Ishares Tr (TLT)
IEF traded between 88.64 and 91.23 across 20 sessions. The latest close on file is 90.08. JPM traded between 325.12 and 345.73 across 20 sessions. The latest close on file is 338.00. TLT traded between 76.44 and 81.94 across 20 sessions. The latest close on file is 79.46.
What the saved facts support for Ishares Tr (TLT)
46 out of 100
“NLCP: Vacancies and accelerated amortization pressured earnings, while liquidity remained debt-free” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.