Are These Marijuana Stocks On Your 2021 Watchlist?
Marijuana stocks are still trading at lower levels making it a bit tough for some investors. The reason for that is some investors have been holding their position since November 2020. Since that time the sector has dropped and some of these investors still bought the dips. When you buy high and then buy the same cannabis stocks as it dips it lowers your average cost. The purpose of this is to try either break even or wait till you can make some profit from your new average. In the last several months some investors have been selling off some of their positions.
Which at this time was potentially to break even to buy the dips once more due to how low marijuana stocks are. Many feel that a run is coming for the sector. This possible increase in trading is being based on the passing of federal cannabis reform. In 2021 anytime news has come out about progress with federal reform it has resonated well for some marijuana stocks. So with this many people are finding the best marijuana stocks to buy. People want to be prepared for when this day happens or any momentum where the sector’s average sees a substantial rise.
Now, none of this is set in stone which is why those who are investing in cannabis stocks hold great anticipation. Furthermore, the cannabis industry as a whole is still flourishing and growing. More companies are beginning to yield solid financials and show better profitability. These factors are also being looked at by those who want to invest in legal cannabis. The more successful a company is the more probable that people will want to invest. Below are a few marijuana stocks to watch as trading in November has just begun.
Top Marijuana Stocks To Watch This Month
Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. is a company that works in the cannabis real estate space. As well the company is a self-advised Maryland corporation focused on the acquisition, ownership, and management of specialized properties. Which are leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. In one of the more recent updates the company announced it will be acquiring a property in California.
In addition to executing a long-term lease with Gold Flora. The purchase price for the property was $51.0 million. Gold Flora is expected to complete additional tenant improvements for the property as a regulated cannabis cultivation and processing facility. From this IIP has agreed to provide reimbursement of up to $9.0 million. Assuming full reimbursement for the tenant improvements, IIP’s total investment in the property is expected to be $60.0 million.
Words From The Company
“We are excited to welcome Laurie and the Gold Flora team as our newest tenant partner,” said Paul Smithers, President and Chief Executive Officer of IIP. “Gold Flora has established a strong reputation and presence in the largest regulated cannabis market in the world, California, and we look forward to supporting them as a long-term real estate capital partner for many years to come, as they continue to expand the breadth of their operations and reach throughout the state.”
NewLake Capital Partners, Inc.
NewLake Capital Partners, Inc. is a leading provider of real estate capital to state-licensed cannabis operators. Founded in 2019, it is a triple-net lease REIT that acquires industrial and retail properties. This is done through sale-leaseback transactions, third-party purchases, and build-to-suit projects. Its tenants are some of the leading operators in the U.S. state-licensed cannabis industry and it is a trusted partner for their real estate needs.
Back on September 10th, the company released its Q1 and Q2 2021 financial results. In the first half of 2021, the company’s revenue totaled $11.1 million, as compared to $4.2 million. Also in Q1 AFFO totaled $8.3 million or $0.61 per basic and diluted share. In Q2 NewLake Revenue totaled $6.7 million, as compared to $2.1 million. Next the company also Net income attributable to common shareholders totaled $2.7 million. As well in Q2 the company’s cash and cash equivalents as of June 30, 2021, was $76.5 million.
Words From The Chief Executive Officer of NewLake Capital Partners
“We are pleased with the Company’s growth during the second quarter of 2021 and given the capital we recently raised in our Initial Public Offering, we are well positioned to continue that growth,” said David Weinstein, Chief Executive Officer of NewLake Capital Partners.
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