These Marijuana Stocks Are Performing Well And Yielding Dividends
This year has given marijuana stocks a new life in the way of popularity and longevity. With marijuana being deemed essential 2020 is showing a trend of growing sales in the cannabis industry. Many Investors are looking for a list of marijuana stocks to add to their portfolio. Although pot stocks have shown volatility during their short time in the stock market the predictions of growth in the cannabis industry for the next 5 years are something that should be considered by long term investors.
With the bears ending the year rally from March and April lows this month the market seems to be presenting a possible long-term buying opportunity. Robinhood marijuana stock favorite Aurora Cannabis Inc. (NYSE:ACB) is currently reaching some of the lowest stock pricing it has seen in the past 3 years. Although in other cases the stock price is falling due to market trends. ACB stock seems to be suffering from its own financials. Knowing a company’s financial situation and plans for the future can help you establish the best entry point for your investment. Aurora is currently working on cleaning up its balance sheet.
Dealing with marijuana stock volatility is sometimes hard to stomach for long term investors. But there are a few pot stocks to watch that give investors incentive for the long hold. Although marijuana stocks with dividends are like finding a unicorn in a horse stall, some do exist. Here are two ancillary marijuana companies that are performing well and giving back to investors.
The Cannabis Industry REIT Yielding Dividends
Innovative Industrial Properties Inc. (NYSE:IIPR) is a REIT that specializes in leasing out and managing properties of state-licensed marijuana facilities. Although the company does not directly deal with marijuana it is connected to cannabis and positioned to grow alongside the marijuana industry. Recently announcing its acquisition of a property in Lakeland, Florida. The expanded partnership with Parallel one of the largest private multistate operators in the U.S. gives IIPR stock long term appeal. With a portfolio of 62 properties in 16 states all holding long term leases the prospects for a solid business structure are more than evident.
Innovative Industrial Properties has established a partnership with some of the best marijuana stock companies like Trulieve Cannabis Corp. (OTCQX:TCNNF), Cresco Labs Inc (OTCQX:CRLBF), Green Thumb Industries Inc (OTCQX:GTBIF), and many more. With a target lease size between $5 Million to $30 million plus, and an average lease term of 10- 20 years. The company seems to be built on a stable business model. The fact that this stock is giving a dividend of $4.24 per share to its investors seems like the icing on the cake.
The Large Pharmaceutical Stock with Skin In The Game
AbbVie Inc. (NYSE:ABBV) is not a pure-play marijuana stock by any means. This pharmaceutical company has a popular drug on the market containing THC called Marinol. In addition, AbbVie Inc also holds claim to some of the best-selling chronic disease medicines in the mainstream market. With an annual dividend payment of $4.72 and dividend yield of 5.38% ABBV Stock has its next scheduled payment for November 16. Currently trading in the high $80 range this is by no means a cheap pot stock play. But long-term stability and an investment opportunity due to price drop is visible.
Coming off a 27-week high in July ABBV stock seems to be trading at a good position building price for now. For long term investors and stockholders, this pharmaceutical play has its rewards. With AbbVie Inc. also taking part in the race to find a COVID vaccine, this stock is looking like a marijuana stock to buy.
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