5 Best Marijuana Stocks to Invest In

In this article, we will be looking at the 5 best marijuana stocks to invest in. To see our detailed analysis of the marijuana sector, you can go directly to see the 12 Best Marijuana Stocks to Invest In.

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

Number of Hedge Fund Holders: 13

Innovative Industrial Properties, Inc. (NYSE: IIPR) is a corporation working on acquiring and managing specialized properties leased to state-licensed operators for regulated medical use of cannabis facilities. Despite not being a company producing marijuana, it is set to benefit from the steadily growing cannabis business since it is the main option for operators who want to scale production, since borrowing capital from banks is not possible because of cannabis being illegal at the federal level. The company ranks 5th on our list of the best marijuana stocks to invest in.

On June 15th, Innovative Industrial Properties, Inc. (NYSE: IIPR) declared its quarterly dividend of $1.4 per share, a 6.1% increase from the prior $1.32 dividend. It will be payable on July 15th. Innovative Industrial Properties, Inc. (NYSE: IIPR) has also acquired properties in Massachusetts, Michigan, and Pennsylvania this May. Innovative Industrial Properties, Inc. (NYSE: IIPR) has estimated that regulated cannabis sales would reach about $45.9 billion by 2025, and this expansion in the business will result in growing demand for cannabis production infrastrucute, which the company can provide readily. Hence, it is set to benefit incredibly from the growth of the cannabis business. In the first quarter of 2021, Innovative Industrial Properties, Inc. (NYSE: IIPR) had an FFO of $1.39 in line with estimates, while its revenue of $42.88 million, up 103.25% year over year, beat estimates by $1.22 million. The company has a gross profit margin of 96.31% and Innovative Industrial Properties, Inc. (NYSE: IIPR) has gained 7.62% in the past 6 months and year to date.

By the end of the first quarter of 2021, 13 hedge funds out of the 866 tracked by Insider Monkey held stakes in Innovative Industrial Properties, Inc. (NYSE: IIPR), worth about $192 million. This is compared to 23 hedge fund holders in the previous quarter, holding stakes worth roughly $317 million.