There are several cannabis companies that make great investments
A new month has already begun and as September progresses, cannabis stocks are showing signs of a volatile fall. A new trading month can mean a pattern of elevated ups and downs. While the pullback is not entirely welcome, there is a good opportunity to find the best cannabis stocks to add to the portfolio before the year ends. Three companies are seeing big gains right now, so investing in them can be a great idea.
Innovative Industrial Properties is one of them, and not at all surprisingly, the Maryland self-advised corporation is having a pretty solid 2022. This company is focused on owning, acquiring and managing specialty properties leased to fairly established marijuana operators.
Among the most notable recent updates is the acquisition of a property in Massachusetts and its expansion of its long-term real estate partnership with Curaleaf. The location is fully constructed and operational as a regulated marijuana cultivation and processing facility.
Then there is AFC Gamma, a company that focuses on originating, structuring, underwriting and investing in senior secured loans and other types of loans and debt securities for licensed cannabis companies where the recreational and/or medical market has already been opened. The company recently released its second quarter 2022 earnings.
The report indicated second-quarter net income of $11.4 million, or $0.58 per basic weighted average share of common stock. In addition, there were distributable earnings of $13.6 million in the second quarter of 2022 or $0.69 per basic weighted average common share.
Last is NewLake Capital Partners, a leading real estate capital provider to state-licensed cannabis operators. Three years old since its founding, this triple-net leasing REIT focuses on acquiring industrial and retail properties through sale-leaseback transactions, third-party purchases and build-to-suit projects.