Best Cannabis Stocks To Watch In June With Dividends
The cannabis industry has maintained some momentum in this week’s trading as general market volatility continues to influence marijuana stocks. In general, the cannabis industry has become more appealing to prospective investors because of these freshly achieved new lows. Marijuana REITs in 2022 are one industry that has seen a decrease to start the year. In recent years, cannabis real estate investment trusts have been among the best-performing marijuana equities. At the present time, marijuana REITs have remained one of the most reliable long-term investments in the cannabis industry.
One reason is that many marijuana REITs provide dividends to shareholders, which are difficult to come by with cannabis stocks. Many institutional investors and private equity companies have flocked to these top marijuana stocks because of this. This might make cannabis REITs one of the best long-term investments in the sector. As Congress continues to push for federal cannabis legalization, the cannabis sector might see a possible catalyst in the coming months. Furthermore, the cannabis market is expected to more than double in size over the next five years, creating a favorable climate for marijuana REITs.
Pot Stocks to Watch In June 2022
In June, there may be several possibilities to gain wealth in the stock market. From these recently set lows, top marijuana stocks might see a considerable upside. Let’s look at three top marijuana stocks for your long-term portfolio right now for those investors searching for long-term holdings in the cannabis industry.
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Best Marijuana Stocks To Watch For Long Term Investing In June
- Power REIT (NYSE: PW)
- NewLake Capital Partners, Inc. (OTC: NLCP)
- AFC Gamma, Inc. (NASDAQ: AFCG)
Power REIT
Power REIT is a real estate investment trust specializing in long-term real estate with high risk-adjusted returns. At the present time, the company is building up a portfolio of CEA assets including greenhouses and processing facilities. Tenants who have been granted permission to cultivate medical marijuana on the grounds are now renting the facilities. The funds will be used by Power REIT to complete the necessary improvements to the assets that are ready for development. Greenhouse facilities owned by Power REIT offer a long-term growth opportunity.
In April, Power REIT announced its fourth-quarter and full-year 2021 results, which included a 42 percent increase in net income per share. The company invested $48 million in nine greenhouses, establishing itself as a pioneer in innovative greenhouse farming techniques. In addition, the company now owns 21 CEA buildings totaling over 1 million square feet in its portfolio. In May, the company issued an update for the first quarter of 2022, reporting a Core FFO of $0.40 per share, down from $0.46 per share in Q1 2021. The Trust paid $163,000 in quarterly dividends, or $0.4843 per share, on March 15th, 2022.
PW stock closed on June 1st at $21.81 down 18.80% for the last month of trading. Currently, the stock has a 52-week price range of $19.30-$81.99 and is down 68.24% year to date. According to analysts at CNN Business PW stock has a consensus price target of $44 per share. In this case, this would represent an upside of 103.23% from its last trading price of $21.83.
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NewLake Capital Partners, Inc.
NewLake Capital Partners is a prominent real estate lender for state-licensed cannabis companies. It’s a triple-net lease REIT that invests in industrial and retail properties through sale-leasebacks, third-party acquisitions, and build-to-suit projects. In addition, some of the most well-known names in the state-licensed cannabis sector in the United States are among its tenants, and it is a reliable real estate partner. The company reported $10.2 million in sales for the first quarter of 2022 in May, rising 130 percent year over year. In addition, net income attributable to common stockholders in the first quarter of 2022 was $5 million. On June 1st the company appointed Anthony Coniglio as Chief Executive Officer.
The Company issued a $0.33 per share cash dividend for the first quarter of 2022 on March 15, 2022, equivalent to a $1.32 annual dividend. NewLake Capital now has over $325 million in assets, $110 million in cash, and a 28-building portfolio spanning ten states. The company has 17 dispensaries and 10 cultivation sites. NewLake Capital’s tenants include Curaleaf Holdings, Inc. (OTC: CURLF), Cresco Labs Inc. (CRLBF), Trulieve Cannabis Corp. (OTC: TCNNF), and Columbia Care Inc. (OTC: CCHWF).
NLCP stock closed at $20.45 on June 1st down 7.05% in the past month. Currently, the stock has a price range of $18.00-$35.50 and is down 28.70% year to date. According to analysts at Tip Ranks NCLP stock has a 12-month average price target of $39.50 per share. This would represent an increase of 93.15% from its last trading price of $20.45.
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AFC Gamma, Inc.
AFC Gamma, Inc. is a well-known cannabis company with a positive cash flow and efficient operations. The 2020-founded company focused on real estate security and other collateral, as well as places with strong supply/demand fundamentals and appropriate legal circumstances. AFCG focuses on first-lien loans, mortgage loans, construction loans, bridge financings, and other nontraditional financing options. The fast growth of the cannabis business has been the focus of AFC Gamma’s recent activities. With Verano Holdings Corp., the business agreed to a $250 million credit upsize and a $100 million option in October (OTC: VRNOF).
The company reported first-quarter 2022 earnings in May, with a net income of $10.2 million, or $0.53 per basic weighted share. In addition, the company had $11.9 million in distributable earnings in Q1 2022. AFC also paid a $0.55 per common share dividend on April 15th, a 10% increase over the previous quarter. In addition, the business completed $154.2 million in new commitments and financed $131.5 million in new existing obligations to begin Q1 2022. As of May 9th, the business has a total loan commitment of $482.7 million spread over 12 portfolio companies.
AFCG stock ended at $17.84 on June 1st down 11.43 % from the previous month. The stock is down 21.62% year to date, with a price range of $14.90 to $25.50. Tip Ranks analysts estimate a 12-month average price of $22.68 per share for AFCG shares. This forecast indicates a 27.13 percent gain over the stock’s most recent trading price of $17.84.
Finding The Best Long Term Investments In Cannabis For 2022
Cannabis REITs might be an excellent way for new investors looking for long-term investments to enter the cannabis industry. Before investing in a company, you should always conduct your own due diligence. Examining a company’s finances and press releases might help you figure out which ones are the greatest to invest in. These could be the best marijuana stocks to invest in for the long term right now in June.
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