Top Cannabis Stocks For Long Term Investing In 2021
Are you looking for ways to invest in top marijuana stocks in 2021? Right now, the cannabis sector has been trading near some of its lowest market value this year. In October inflation concerns continue to negatively impact the market. In the US the cannabis industry has continued to grow rapidly at the state level. This year we have seen many more states establish marijuana legalization. On the other hand, in Congress, the Senate continues to debate cannabis reform delaying the process.
For the most part, this has caused most of the downtrend in the best cannabis stocks to buy. Recently there has been much more activity on Capitol Hill regarding marijuana legalization and cannabis reform. This could be a major catalyst for the cannabis sector going into 2022. At the present time, there are many ways to invest in the cannabis market.
In the US cannabis REITs have become a favorite of money managers and hedge fund investors for their long-term appeal. Some of these pot stocks have held their value through this downtrend much better than the rest of the sector. In addition, they also provide a dividend to long-term shareholders as an incentive. Another area of the cannabis market that is forecast to grow significantly in the next five years is the medical cannabis industry.
Investing In Pot Stocks And The Cannabis Industry
As more uses for medicinal cannabis continue to be established the leading companies with FDA-approved products could see substantial growth in the future. Some of these cannabis drugs are owned by major drug companies that also give investors exposure to other areas of the pharmaceutical market. In general, these cannabis stocks could be a good way to invest in the cannabis industry long term.
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As the cannabis industry continues to grow in the US and internationally these companies are well-positioned to continue to grow with the market. For investors, it’s important to research a company and study how a stock performs before investing. Researching a company’s earnings and following stocks in the market can help you establish the best investments. For investors looking for top marijuana stocks for their list in October here are 2 top cannabis stocks for your list this week.
Best Marijuana Stocks To Watch For Your Long Term Portfolio
- Innovative Industrial Properties, Inc. (NYSE:IIPR)
- Jazz Pharmaceuticals plc (NASDAQ:JAZZ)
Innovative Industrial Properties, Inc.
One of the largest in the cannabis REIT market is Innovative Industrial Properties, Inc. a real estate investment trust with a focus on the US-licensed cannabis industry. Currently, the company has a total of approximately 7.3 million rentable square feet and 2.7 million square feet under development. Specifically, these properties are 100% leased with a weighted average remaining lease term of about 16.7 years. In detail, the company owns 75 properties across 19 states. As of October 1st, IIP has invested a total of $1.4 billion and committed another $417.5 million to reimburse tenants for property improvements. IIP continues to close acquisitions including properties in Pennsylvania and Massachusetts expanding its lease portfolio significantly in 2021. Immediately, after the purchase, IIP will enter a long-term triple net lease with the cannabis company using the property.
In September the company acquired a property in Missouri and entering a long-term lease. Also, the company expanded its long-term real estate partnership with Goodness Growth Holdings, Inc. (OTC:GDNSF) in New York. IIP reported its second-quarter 2021 financials with performance-driven growth of 101% in total revenue year over year. To highlight, the company generated total revenue of $48.9 million. IIP paid its second-quarter 2021 dividend of $1.40 per share on July 15th a 32% increase from the year prior. To highlight, this represents an increase of 6% over the first quarter dividend. IIP has 21% debt to total gross assets with about $2.1 billion in total gross assets. As a result, the company has generated total revenues of about $91.8 million for the first six months of 2021.
IIPR Stock Performance
IIPR closed on October 8th at $232.53 up26.98% year to date. Currently, the stock has a 52-week price range of $112.25-$253.61 and has increased 503.34% for its total 3-year return. According to analysts at CNN Business IIPR stock has a 12-month median price target of $260.00 per share. In this case, this would be a gain of 11.80% from its last trading price. As one of the strongest performing marijuana stocks in 2021 IIPR stock could be one of the best cannabis stocks for the long term.
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Jazz Pharmaceuticals plc
Jazz Pharmaceuticals plc is a biopharmaceutical company, that identifies, develops, and commercializes pharmaceutical products for various unmet medical needs in the United States, Europe, and globally. In general, the company has a portfolio of products with a focus in the areas of neuroscience, including sleep medicine and movement disorders. In 2021 Jazz acquired a leading medical cannabis provider GW Pharmaceuticals which produces a leading cannabis-derived drug named EPIDIOLEX. At the present time, Epidiolex is used in the U.S and globally for the treatment of seizures associated with a variety of serious ailments. As of now, Epidiolex is one of the only drugs approved by the FDA in the U.S. and the European Union for medical use. In July Jazz announced the FDA has approved Rylaze a multi-agent chemotherapeutic regimen for lymphoblastic leukemia. 
Jazz reported its second-quarter 2021 results with 41% of net product sales coming from recently acquired products. Primarily Jazz saw Q2 total revenue increase to $751.8 million up 34% year over year. The company affirmed 2021 total revenue guidance at $3.02 billion to $3.18 billion. In its latest earnings JAZZ delivered quarterly earnings of $3.92 per share now with the addition of GW Pharm this number could increase significantly.
JAZZ Stock Performance
JAZZ stock closed on October 8th at $135.97 up 4.62% in the last five days. Currently, the stock has a 52-week price range of $126.01-$189.00 and is down 17.62% year to date. According to analysts at Market Beat, JAZZ stock has a consensus price target of $20.8.07 per share. In essence, this would represent an upside of 53% from its last trading price. As medicinal cannabis continues to gain use across the pharmaceutical market JAZZ could be a long-term cannabis stock for your watchlist in 2021.
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