5 Best CBD Stocks To Buy Now

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

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

Number of Hedge Fund Holders: 12

Innovative Industrial Properties, Inc. (NYSE:IIPR) is a Maryland-based company specializing in acquiring, owning, and managing properties that are leased to licensed operators for medical cannabis facilities. The company has chosen to be treated as a real estate investment trust for tax purposes. It is one of the best marijuana stocks to invest in. Innovative Industrial Properties, Inc. (NYSE:IIPR) paid a $1.80 per share quarterly dividend to shareholders on January 13, with a forward yield of 6.31%. 

On January 19, Innovative Industrial Properties, Inc. (NYSE:IIPR) reported that as of December 31, 2022, it owned 110 properties in 19 states. During 2022, the company made 9 acquisitions of properties in 7 states and revised 12 leases to allow for additional improvements at properties located in 7 states. The company’s financial status as of December 31, 2022 showed that its debt constituted 12% of its total gross assets, with approximately $2.6 billion in total assets and a quarterly fixed cash interest obligation of around $4.2 million. It had no secured debt and no debt maturing until May 2026.

BTIG analyst Thomas Catherwood on January 24 maintained a Buy rating on Innovative Industrial Properties, Inc. (NYSE:IIPR) but lowered the firm’s price target on the shares to $179 from $196. 

According to the third quarter database of Insider Monkey, 12 hedge funds were long Innovative Industrial Properties, Inc. (NYSE:IIPR), compared to 16 in the prior quarter. Stuart J. Zimmer’s Zimmer Partners is the latest stakeholder of the company, with 1.95 million shares worth $172.5 million.