Top Ancillary Cannabis Stocks to Watch This Week for Growth and Stability
The U.S. cannabis industry continues to show resilience despite market challenges. In 2024, sales exceeded $33 billion nationwide, and analysts project annual revenues could surpass $50 billion by 2030. Growth is fueled by new state markets, expanding consumer demand, and strong ancillary services. Recently, U.S. lawmakers revisited cannabis reform discussions, signaling renewed potential for federal legalization. Moreover, the Department of Health and Human Services has recommended reclassifying cannabis under the Controlled Substances Act. This development adds optimism for investors. Ancillary stocks, which provide real estate, equipment, and financing, remain essential in this expanding market. Importantly, these businesses avoid plant-touching risks. Therefore, they often present safer exposure to industry growth.
Traders looking at ancillary cannabis stocks should also apply technical analysis for entries and exits. Charting support and resistance levels helps identify trends and momentum. Furthermore, moving averages, volume analysis, and candlestick patterns improve decision-making. However, proper risk management is just as important. Investors should size positions carefully and set stop losses. Diversifying across multiple ancillary plays can reduce volatility. Moreover, focusing on long-term growth prospects provides balance against short-term price swings. While headlines about legalization may drive quick rallies, disciplined strategies protect capital. Consequently, combining technical analysis with risk management ensures more consistent results. As the industry matures, this approach is vital for navigating market uncertainty.
This September, three leading ancillary cannabis stocks deserve close attention: Innovative Industrial Properties, Inc. (IIPR), NewLake Capital Partners, Inc. (NLCP), and Chicago Atlantic Real Estate Finance, Inc. (REFI). Each operates with a unique model, offering investors growth potential and attractive dividends. Below is a closer look at these three companies, including their U.S. presence and financial strength.
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Top 3 Ancillary Cannabis Stocks to Watch in September 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 is a real estate investment trust dedicated exclusively to the regulated cannabis industry. The company acquires, develops, and leases specialized industrial facilities to state-licensed cannabis operators. Its largest presence is in California, though it holds properties across key states such as Colorado, Pennsylvania, and Massachusetts.
IIPR owns more than 100 properties across 19 states, making it the largest publicly traded cannabis REIT. These properties serve cultivation, processing, and retail operations. Importantly, the company does not manage or operate dispensaries itself. Instead, it provides capital through sale-leaseback transactions, enabling cannabis operators to reinvest into their core businesses. By focusing on real estate solutions, IIPR plays a vital ancillary role that strengthens the cannabis supply chain.
Financial Performance
IIPR continues to report consistent revenue growth. Its most recent quarterly results showed total revenue of $77.8 million, representing a 9 percent increase year over year. Net income reached $40.5 million, underscoring the company’s profitability.
The trust also maintains a high occupancy rate above 97 percent. This stability highlights the resilience of its tenant base, even during periods of broader industry stress. Investors also benefit from strong income potential. The company currently pays a quarterly dividend of $1.80 per share, which appeals to income-focused portfolios.
While certain cannabis operators face financial pressure, IIPR’s diversified portfolio helps mitigate tenant risks. Furthermore, new property acquisitions continue to expand its footprint. This mix of income, growth, and diversification makes IIPR a strong ancillary stock to monitor this fall.
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NewLake Capital Partners, Inc. (NLCP)
NewLake Capital Partners is another key cannabis REIT. It provides real estate capital to licensed operators through sale-leaseback transactions, build-to-suit projects, and property acquisitions. Unlike cultivation businesses, NLCP avoids direct contact with the cannabis plant, focusing instead on supporting infrastructure.
The company owns approximately 33 properties across the United States. This includes 15 cultivation facilities and 18 dispensaries, all operating under long-term triple-net leases. Its portfolio spans Florida, Pennsylvania, Illinois, Massachusetts, Missouri, Nevada, Arizona, California, Ohio, North Dakota, Arkansas, and Connecticut. This geographic diversity spreads risk while giving NLCP exposure to both medical and recreational markets.
By transferring operating expenses to tenants, its triple-net model generates predictable rental income. This structure provides investors with steady cash flow, while cannabis businesses gain access to capital without diluting equity.
Financial Performance
Over the trailing twelve months, NLCP generated revenue of $51.2 million and net income of $26.1 million. This resulted in a strong net margin of about 51 percent, reflecting efficient management and solid tenant performance.
The company also offers one of the most attractive dividends in the sector. It pays $0.43 per share quarterly, which translates into $1.72 annually. That equates to a double-digit yield, hovering around 12 percent. This dividend makes NLCP especially appealing to income-oriented investors.
Revenue grew steadily from 2023 into 2024, rising about 6 percent year over year. Gross profit exceeded $50 million, while the cost of revenue remained minimal. Looking ahead, NLCP is well positioned to sustain earnings as long as tenants maintain strong operations. Its combination of diversification, high occupancy, and reliable dividends makes it a stable ancillary play for September 2025.
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Chicago Atlantic Real Estate Finance, Inc. (REFI)
Chicago Atlantic Real Estate Finance is a commercial mortgage REIT that provides credit to licensed cannabis operators. Unlike IIPR and NLCP, REFI does not own properties. Instead, it specializes in lending capital, primarily through senior secured first mortgages.
The company finances cultivation, manufacturing, and retail facilities across the country. Operating under the Chicago Atlantic platform, it has built a strong presence in states where cannabis industries are expanding. To date, it has deployed more than $2.8 billion in credit and equity investments across the cannabis sector.
With offices in Chicago, Miami, New York, and London, the company combines global financial expertise with U.S. cannabis opportunities. It plays a unique ancillary role by bridging the financing gap faced by cannabis operators who often lack access to traditional banking services.
Financial Performance
REFI has demonstrated impressive profitability. In its most recent report, the company posted $62 million in interest and dividend income. Interest expenses totaled about $7.1 million, leaving strong net interest income.
For the trailing twelve months, REFI generated $56.6 million in total revenue and $38.1 million in net income. This produced a net margin near 67 percent, one of the highest in the ancillary cannabis sector. The stock currently trades around $14 per share and offers an annual dividend of $2.06. That payout translates to a robust yield of nearly 15 percent.
Analysts maintain a bullish outlook on REFI. Many project a price target near $20, suggesting meaningful upside potential. With its disciplined lending practices, high yield, and growing market demand, REFI stands out as a high-income opportunity for investors in September 2025.
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Top Ancillary Cannabis Stocks This Week
Ancillary cannabis companies continue to prove their value as the U.S. industry matures. By avoiding direct involvement in cultivation and retail, firms like IIPR, NLCP, and REFI provide investors with reduced regulatory risks while still capturing sector growth. Each company offers unique advantages: IIPR delivers scale and consistency, NLCP provides high yields with diversified holdings, and REFI supplies strong income through secured lending.
As legalization momentum builds and capital demand increases, these three stocks present compelling opportunities for investors seeking exposure to cannabis without the volatility of plant-touching operators. September 2025 offers a timely window to consider them for both growth and income strategies.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
