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*Latest reports. Please contact us for archive reports.

FINCOS

Review our research on cannabis-focused financial entities, highlighting capital flows, deal structures, and the evolving role of FINCOs in industry growth.

Advanced Flower Capital

AFCG (OW): Updated Views and Estimates Post 1!25

May 15, 2025

AFCG (N): Downgrading to Neutral

June 13, 2025

Aug 20, 2025

AFCG (N): Update Post 2Q Result & Management Call

NewLake Capital Partners

March 12, 2025

NLCP (OW): 4Q Review & CY25 Outlook

May 13, 2025

NLCP (OW): Post 1Q Update; 12% Div Yield; 25 Disc to Par Overdone

NLCP (OW): Dividend Well Covered Despite Issues With the AYR Rental

Aug 25, 2025

Chicago Atlantic Real Estate Finance

March 14, 2025

REFI (OW): Updated Views and Estimates Post 4Q

May 14, 2025

REFI (OW): Real Estate Finance: Post 1Q25 Update

Aug 20, 2025

REFI (OW): Update Post 2Q Print & Guide for $57Mn Prepayments

Chicago Atlantic BDC

May 23, 2025

LIEN (OW): Starting Coverage of the Only BDCC in the Cannabis Lending Sector

Aug 21, 2025

LIEN (OW): Update Post 2Q Report & 10-Q