5 Best Cannabis Stocks To Buy Now

Page 1 of 5

Below we count down the 5 Best Cannabis Stocks To Buy Now. For our methodology and a more comprehensive list, please see the 10 Best Cannabis Stocks To Buy Now.

5. Innovative Industrial Properties, Inc. (NYSE:IIPR)

Number of Hedge Fund Shareholders: 12

Innovative Industrial Properties, Inc. (NYSE:IIPR) ranks fifth on the list of the best cannabis stocks to buy now, though hedge fund ownership of the stock has been cut in half since the end of 2020. Stuart J. Zimmer’s Zimmer Partners added to its already large IIPR stake during Q3, bolstering it by 26% to 1.95 million shares. Its 13F portfolio has 3.74% exposure to the stock.

Innovative Industrial Properties, Inc. (NYSE:IIPR) is one of the more unique cannabis stocks on the market, as the company does not grow, distribute, or sell cannabis. Instead, the REIT leases cultivation and industrial facilities to other players in the field, including Trulieve, Green Thumb Industries, and Curaleaf.

Innovative Industrial Properties, Inc. (NYSE:IIPR)’s revenue grew by 32% year-over-year in Q3, while its funds from operations rose by 34%. Despite the company’s strong results, its shares have fallen alongside the broader cannabis industry, being down by 55% this year. That’s elevated the company’s dividend yield to 6.42%, making the REIT an intriguing portfolio addition on several fronts.

Page 1 of 5