IIPR - 3 Marijuana Stocks To Watch This Thursday
Top Marijuana Stocks In The Cannabis Sector
Are marijuana stocks the investment that people need? The cannabis industry has come a long over the last 5 years. At one point in time, the cannabis sector was one that was filled with lots of action and trading consistency. Much of this was due to how new and exciting the market was once states started to legalize cannabis. Many marijuana stocks both Canadian and US-based began to see the type of trading shareholders wish they had now. 2018-2019 was one of the strongest times for most marijuana stocks.
Over the last 2 years, the upward consistency has drastically slowed down for a large part of the sector. Yet this does not mean that investing in marijuana stocks is a bad choice. Currently, it takes more patience and strategy that allows you to adapt to the level of volatile trading. So right before the pandemic, the majority of cannabis stocks saw a long downtrend. Since that time things have picked up for much of the sector but with the battle to enact federal reform volatility is still high.
The cannabis industry as a whole is still growing and progressing. So if you are looking for marijuana stocks to buy now is as good a time as any. Just make sure you do your research and as mentioned above have a plan and trade that plan. As well as be ready to make adjustments along the way to have better odds of seeing strong profits. The companies below are a few marijuana stocks to watch in 2023 .
Marijuana Stocks For Your 2023 Portfolio
- Innovative Industrial Properties, Inc. ( NYSE:IIPR )
- Power REIT ( NYSE:PW )
- 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. In recent news, the company reported its Q4 and 2022 earnings.
Full Year 2022
- Generated total revenues of approximately $276.4 million, net income.
- Recorded $5.52 of net income attributable to common stockholders per diluted share and $8.45 of AFFO per diluted share.
- Declared dividends to common stockholders totaling $7.10 per share, a 24% increase over 2021.
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Fourth Quarter 2022
- Generated total revenues of approximately $70.5 million in the quarter, representing a 20% increase from the prior year’s fourth quarter.
- Recorded net income attributable to common stockholders of approximately $41.2 million for the quarter, or $1.46 per diluted share.
- Paid a quarterly dividend of $1.80 per common share on January 13, 2023, to stockholders of record as of December 30, 2022.
- Amended IIP’s leases with Gold Flora, LLC in California, 4Front Ventures Corp. in Illinois, and Holistic Industries Inc.
Power REIT
Power REIT is a real estate investment trust (REIT) that owns real estate related to infrastructure assets. This includes properties for Controlled Environment Agriculture, Renewable Energy, and Transportation. Power REIT is actively seeking to expand its real estate portfolio related to Controlled Environment Agriculture.
At the end of January, the company announced its 2022 dividend income tax treatment. The Federal income tax classification of the distribution per share on the Company’s 7.75% Series A Preferred Stock with respect to the calendar year ended December 31, 2022.
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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.
On February 14th the company announced it will host a Q4 and 2022 earnings call. This call will take place on March 9th at 10:00 am.