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Alternative Marijuana Stocks To Buy? What Do You Know About Cannabis REITs

2 Alternative Marijuana Stocks To Watch In November

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This story originally appeared on MarijuanaStocks

2 Top Marijuana REITs To Watch This Month

In recent trading top marijuana stocks are starting to see some upward momentum. Now not every day over the last few weeks has been on an incline. But in comparison to how the last several months have been, it’s an improvement. For some time now many of the best marijuana stocks to watch have been on the decline. In all fairness, the entire cannabis sector has been going through a long downtrend. Now for some, this downtrend hurt their position even with buying the dips. This is what many investors did initially to try and lower the cost of their position.

Marijuanastocks.com - MarijuanaStocks

However, for the other half of investors, it created a window to find the best cannabis stocks to buy. Due to how low the sector dropped many people took advantage of this buying opportunity. The issue became that up until recently marijuana stocks were not able to see consistent trading. Much of this buying that has occurred since the downtrend has been done off of speculation. This speculation stems from the future of the cannabis industry. For example, as most know the push for federal cannabis reform has started to become more aggressive. Especially with the new Republican reform proposal. With more bipartisan support for ending cannabis prohibition, things are starting to come together.

Marijuana Stocks And Industry News

Yet the path to achieving this is still a bit rough. Nevertheless, this was the initial cause of buying as many of the best marijuana stocks people could find. The speculation of what will happen federal reform is passed is what many are were doing. In addition to just knowing that eventually, all things rise it’s just about being prepared. And knowing when to execute and take the risk. The marijuana stocks below are just a few examples of possible options to consider for your investment portfolio.

Top Marijuana Stocks To Watch This Month

  1. Innovative Industrial Properties, Inc. (NYSE:IIPR)
  2. NewLake Capital Partners, Inc. (OTC:NLCP)

Innovative Industrial Properties, Inc.

Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. At the start of November, the company released its Q3 earnings. At this time the company generated total revenues of approximately $53.9 million in the quarter. This represents a 57% increase from the prior year’s third quarter.

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Furthermore, Innovative Industrial Properties recorded net income attributable to common stockholders of approximately $29.8 million. This was for the quarter or $1.20 per diluted share. And adjusted funds from operations (AFFO) of approximately $45.0 million, or $1.71 per diluted share. Another key mention is the company has approximately $127.3 million in cash and cash equivalents. In addition to nearly $554.4 million in short-term investments, totaling approximately $681.7 million.

[Read More] Best Marijuana Stocks To Watch Today? 2 For List While Pot Stocks Are Down

More News And Q3 Financial Results

Also, the company paid a quarterly dividend of $1.50 per share on October 15, 2021. This was done to common stockholders of record as of September 30, 2021. This represents an approximately 28% increase over the third quarter of 2020’s dividend. IIP’s board of directors expects to evaluate adjustments to the level of IIP’s quarterly common stock dividend. Which they want to be done every 6 months. Along with any adjustments expected to be declared in the first quarter and third quarter of each year.

NewLake Capital Partners, Inc.

NewLake Capital Partners, Inc. is a leading provider of real estate capital to state-licensed cannabis operators. Founded in 2019, it is a triple-net lease REIT that acquires industrial and retail properties through sale-leaseback transactions, third-party purchases and build-to-suit projects. Its tenants are some of the leading operators in the U.S. state-licensed cannabis industry and it is a trusted partner for their real estate needs. In the company’s most recent news they have released its Q3 financial report.

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News And Financial Earning Updates

During this time NewLake Capital saw its Q3 revenue reach $8.1 million. This made for an increase of 22 percent sequentially and 135 percent year over year. Next, they also closed an initial public offering for gross proceeds of $102 million in August 2021. Also, the company On September 30, 2021, owned 27 properties across 10 states with 8 tenants. These properties are located in Arizona, Arkansas, Connecticut, Illinois, Florida.

As well as California, Massachusetts, North Dakota, Ohio, and Pennsylvania. Also the company Cash and cash equivalents as of September 30, 2021 was $167.8 million. Which is inclusive of proceeds generated from the closing of the Company’s initial public offering in August 2021. As of September 30, 2021, $32.5 million was committed to funding tenant improvements. Following this, the company net income attributable to common stockholders totaled $2.7 million or $0.14 per basic. And diluted share, as compared to a net loss of $14.6 million.

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Words From The Company

“In August of 2021, we successfully closed on our IPO for gross proceeds of $102 million,” said David Weinstein, Chief Executive Officer of NewLake Capital Partners.