3 Top Marijuana Stock Picks For July
For those who are interested in marijuana stocks, there are different ways to find value. For starters, you have companies that are what are known as pure-play marijuana stocks. Most of the cannabis companies are ones that deal with play directly. For instance as cultivators and producers of cannabis. Most of these types of marijuana stocks hold the most risk due to rules and regulations. However, when there is a rise in trading they often show to be the ones that have stronger returns. Now this is not always the case. But cultivators and producers controlling the primary stages of the cannabis supply chain, allow them to benefit from increasing demand.
Which can resonate well with how the company trades in the market. Now manufacturers and processors are valuable due to their ability to create value-added cannabis products that cater to consumer preferences. By offering oils, extracts, edibles, and other derivatives, they can capture a larger market share. Plus potentially enjoy higher profit margins. Before you begin to find marijuana stocks to buy you should always do your research and develop a game plan beforehand.
With how unpredictable the sector can be you don’t want to get caught in a bad investment. Right now there is a high level of volatile trading that makes it tough to indicate whether a recovery will happen or not. Over the last week due to a push on getting a reform bill passed some marijuana stocks have seen better trading allowing some shareholders to take profits. With this in mind, the companies below are just several marijuana stocks to watch for the rest of the month.
Marijuana Stocks For Your July Watchlist
- Innovative Industrial Properties, Inc. (NYSE:IIPR)
- NewLake Capital Partners, Inc. (OTC:NLCP)
- AFC Gamma, Inc. (NASDAQ:AFCG)
Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership, and management of specialized properties leased to experienced, state-licensed operators for their regulated cannabis facilities. On June 15th the company declared its second quarter 2023 dividends. The company’s board of directors has declared a second-quarter 2023 dividend of $1.80 per share of common stock.
The common stock dividends declared for the last twelve months of $7.20 per common share represent an increase of $0.70, or 11%, over dividends declared for the prior twelve months. Additionally, IIP announced today that its board of directors has declared a regular quarterly dividend of $0.5625 per share of IIP’s 9.00% Series A Cumulative Redeemable Preferred Stock. The dividends are payable on July 14, 2023, to stockholders of record at the close of business on June 30, 2023.
NewLake Capital Partners, Inc.
NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects. Back on June 15th the company announced that its board of directors has declared a second-quarter 2023 cash dividend of $0.39 per share of common stock.
The dividend is equivalent to an annualized dividend of $1.56 per common share. This represents an 11.4% increase year-over-year. The dividend is payable on July 14, 2023, to stockholders of record at the close of business on June 30, 2023.
AFC Gamma, Inc.
AFC Gamma, Inc. originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medical and/or adult-use cannabis. Recently the company provided a business update. The Board of Directors of AFC Gamma declared a quarterly dividend for the quarter ending June 30, 2023, of $0.48 per outstanding share of common stock.
Since the beginning of 2023, certain executives of the Company have purchased approximately $2.9 million worth of AFC Gamma stock in the aggregate.
Given the current volatility in AFC Gamma’s share price, the Board of Directors has approved a share repurchase program. The Board authorized the Company to repurchase up to $20 million of its outstanding common stock.