5 Best Cannabis Stocks To Buy Now

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In this article, we discuss 5 best cannabis stocks to buy now. If you want to see more stocks in this selection, check out 11 Best Cannabis Stocks To Buy Now

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

Number of Hedge Fund Holders: 16

Innovative Industrial Properties, Inc. (NYSE:IIPR) concentrates on the acquisition, ownership, and management of specialized properties, which are subsequently leased to seasoned operators possessing state licenses for their regulated medical-use cannabis facilities. The company’s primary focus lies in offering real estate solutions tailored for the cannabis industry.

In the latest quarter ending on September 30, Innovative Industrial Properties, Inc. (NYSE:IIPR) maintained its strong performance, reporting a net income of $41.3 million on revenues of $77.8 million. Both of these crucial indicators exhibited a roughly 10% year-over-year increase and showed sequential growth from the previous quarter, Q2, during which IIP recorded a $40.9 million profit on $76.5 million in revenue. For the year 2023 thus far, Innovative Industrial Properties, Inc. (NYSE:IIPR) has generated $228.7 million in revenue and achieved a net income of $122.9 million.

According to Insider Monkey’s first quarter database, 16 hedge funds were long Innovative Industrial Properties, Inc. (NYSE:IIPR), the same as the prior quarter. Stuart J. Zimmer’s Zimmer Partners is the largest stakeholder of the company, worth $86.52 million.

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