NLCP - 3 Top Long-Term Marijuana Stocks To Add To Your Watchlist
2024-05-29 09:12:17 ET
Marijuana Stocks To Consider For Future Profits 2024
As we approach Q2 of 2024 marijuana stock investors are keeping a strong focus on the future. With the level of legal and regulatory uncertainty, the cannabis industry has continued to grow. There have been many ups and downs and hurdles to get past in order to get where the sector is today. At this time there are not many states left in the USA that have not legalized cannabis in some way. The politics and business of cannabis are becoming more embraced and seen as a legitimate industry.
Currently, this is a delicate time for the industry and legal operators. This has to do with reform and regulatory concerns that shape how the industry runs. More MSOs are seeing what is happening and have begun expanding into other legal states. It’s an election year and political figures are making campaign promises can be a means to see cannabis stocks run. For example, President Joe Biden has begun to pardon certain cannabis offenders held in federal prison.
Now with a chance of re-election, he has already voiced his support for cannabis reform. Positive news on politics often results in a spike in trading. That is why finding marijuana stocks to buy can be useful as a long-term investment. The companies mentioned below could be some solid cannabis stocks to add to your watchlist this month.
Top Marijuana Stocks This Month 2024
- Innovative Industrial Properties, Inc. ( NYSE:IIPR )
- Chicago Atlantic Real Estate Finance, Inc. ( NASDAQ:REFI )
- 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.
These properties are then leased to experienced, state-licensed operators for their regulated cannabis facilities. On May 8th the company released its Q1 2024 earnings.
Q1 2024 Highlights
- Generated total revenues of $75.5 million and net income attributable to common stockholders of $39.1 million.
- Recorded adjusted funds from operations (AFFO) and normalized funds from operations (Normalized FFO) of $63.0 million and $56.4 million, respectively.
- Paid a quarterly dividend of $1.82 per common share on April 15, 2024 to stockholders of record as of March 28, 2024.
Chicago Atlantic Real Estate Finance, Inc.
Chicago Atlantic Real Estate Finance, Inc. operates as a commercial real estate finance company in the United States. On May 7th the company reported its Q1 2024 financial results.
Portfolio Performance
- As of March 31, 2024, total loan commitments of approximately $401.3 million (all of which are funded) across 28 portfolio investments.
- Weighted average yield to maturity was approximately 19.4% as of March 31, 2024 and December 31, 2023.
- Real estate collateral coverage was 1.3x compared with 1.5x as of December 31, 2023.
- Loan to enterprise value (calculated as outstanding principal balance divided by total value of collateral on a weighted average basis) was approximately 40.5% as of March 31, 2024 compared with approximately 44.1% as of December 31, 2023.
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NewLake Capital Partners, Inc.
NewLake Capital Partners, Inc. is an internally managed real estate investment trust that provides real estate capital to state-licensed cannabis operators.
Which is done through sale-leaseback transactions third-party purchases and funding for build-to-suit projects. In recent news, the company released its first quarter 2024 results.
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First quarter 2024 financial results
- Revenue totaled $12.6 million.
- Net income attributable to common stockholders totaled $6.9 million.
- FFO(1) totaled $10.6 million.
- AFFO(1) totaled $11.0 million.