Top Cannabis Real Estate Stocks for July 2025: REITs with Strong Upside
Cannabis REITs are gaining momentum this week as investors seek dividend-paying stocks with long-term growth potential. These companies lease properties to licensed cannabis operators, generating steady income for their shareholders. As the cannabis sector matures, real estate investment trusts provide stability and consistent payouts. The U.S. cannabis market is projected to reach over $45 billion by the end of 2025. Annual growth rates continue to climb as more states expand legalization. Cannabis sales and tax revenue are also setting new records. Therefore, REITs focused on cannabis facilities offer a strong opportunity. They combine predictable rental income with exposure to a rapidly growing industry. Additionally, REITs provide a great way to build a dividend portfolio while avoiding direct exposure to plant-touching businesses. For those seeking reliable yield and capital appreciation, cannabis REITs offer a well-balanced option.
This week, recent headlines point to continued progress in U.S. cannabis reform. Federal reclassification efforts are moving forward. Lawmakers are also introducing new pro-cannabis amendments in key bills. As a result, investor sentiment is improving. Several cannabis REITs have shown technical strength by bouncing off recent support levels. Moving averages and RSI indicators suggest continued upside could be ahead. Still, traders should use proper risk management. This includes setting stop losses and limiting exposure on any single trade.
Investing in Top REITS in 2025
With that in mind, technical analysis becomes a powerful tool. It can help confirm entries while avoiding emotional decisions. Dividend investors can also benefit from steady yield. These REITs often offer payouts between 7% and 10%. That makes them attractive during market uncertainty. With legal momentum growing and tenant demand rising, cannabis REITs remain one of the best-positioned asset classes to watch right now.
As the U.S. cannabis industry continues its push toward federal reform, real estate investment trusts (REITs) focused on the sector are gaining investor attention. These companies offer an alternative way to gain cannabis exposure without investing directly in plant-touching operators. With a blend of property ownership, leaseback deals, and capital lending, cannabis REITs have proven resilient, even amid broader industry volatility. In July 2025, three cannabis REITs stand out for their market position, tenant quality, and financial strength: Innovative Industrial Properties, NewLake Capital Partners, and Chicago Atlantic Real Estate Finance.
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Best Marijuana REIT Stocks to Buy in July 2025
- Innovative Industrial Properties, Inc. (NYSE: IIPR)
- NewLake Capital Partners, Inc. (OTC: NLCP)
- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI)
Innovative Industrial Properties, Inc. (IIPR)
Innovative Industrial Properties remains the largest cannabis REIT in the U.S. The company owns over 110 properties across 19 states, with its largest footprint in California. These properties are leased to licensed operators through long-term, triple-net lease agreements. IIPR’s assets include cultivation centers, processing facilities, and dispensary locations. Many tenants are among the most well-capitalized multistate operators in the industry. Over the years, IIPR has focused on expanding into regulated markets like Illinois, Florida, and Massachusetts.
By July 2025, IIPR maintained strong real estate fundamentals. The company reported $74 million in rental revenue for the most recent quarter, up 12% year-over-year. Net income reached $35 million, which translated to $1.22 per share. The REIT continues to operate with a conservative debt load, giving it room to grow its portfolio without taking on unnecessary financial risk. The dividend yield remains attractive, making it a favorite for income investors. IIPR also addressed tenant defaults from prior years, replacing weaker operators with stronger clients. Overall, its consistent cash flow and proactive management keep it well-positioned in the cannabis REIT space.
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NewLake Capital Partners, Inc. (NLCP)
NewLake Capital Partners is another key player in the cannabis REIT landscape. The company owns 32 properties across 15 states. Its largest presence is in Pennsylvania, where it supports several operators in both cultivation and retail. Other important markets include Colorado, Massachusetts, and Michigan. NewLake takes a measured approach to growth, focusing on long-term leases with financially healthy cannabis businesses. It targets stabilized assets rather than speculative development.
In its most recent quarterly report, NewLake posted $19 million in rental revenue. This figure marked a 10% increase over the previous quarter. Net income reached $11 million, or $0.45 per share. Occupancy levels remained high, hovering around 96%, which suggests tenant stability and low turnover. NewLake also maintains a conservative leverage profile, with debt levels around 25% of total capital. In July 2025, management raised its dividend by 5%, reflecting confidence in long-term earnings growth. With its mix of cautious expansion and strong income, NewLake continues to offer a compelling opportunity for REIT-focused cannabis investors.
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Chicago Atlantic Real Estate Finance, Inc. (REFI)
Chicago Atlantic Real Estate Finance takes a unique approach compared to IIPR and NLCP. Instead of owning and leasing cannabis facilities, REFI specializes in lending capital to licensed cannabis operators. These loans are typically used for property acquisition, expansion, or working capital. By July 2025, REFI had deployed over $500 million across more than a dozen states, with major lending operations in Massachusetts, Nevada, and Michigan. Its borrower base includes both private and public companies.
REFI’s financial results have remained strong. In its most recent quarter, the company reported $22 million in revenue—up 15% year-over-year. Net income came in at $13 million, which equals $0.68 per share. The portfolio’s average loan yield stood at an impressive 12%, which far exceeds traditional REIT benchmarks. Despite its high yields, REFI maintains conservative underwriting standards. This helps minimize default risk while still capturing growth from the cannabis sector. The dividend remains healthy, with a yield near 9%, supported by consistent earnings. With its debt-focused model, REFI provides investors with a different—but equally valuable—path to cannabis market exposure.
Cannabis REIT Watchlist: Top Stocks for Yield and Growth
Each of these three REITs provides a different way to access the U.S. cannabis industry. Innovative Industrial Properties leads in scale and long-term leasing. NewLake Capital Partners emphasizes diversification and tenant quality. Chicago Atlantic Real Estate Finance excels in generating high yields through cannabis lending. Together, they represent a cross-section of how institutional capital is fueling the next stage of cannabis infrastructure growth.
As legalization efforts continue to evolve at the federal level, the importance of real estate financing in the cannabis supply chain becomes even more critical. For investors seeking yield, diversification, and exposure to a fast-changing industry, these three cannabis REITs should remain top watchlist candidates through July and beyond.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
