The 3 Best Cannabis Stocks to Buy in April 2024

InvestorPlace04-03

Here are some of the top cannabis stocks that could see higher highs. Innovative Industrial Properties (IIPR): IIPR just declared a $1.82 per share dividend, payable on Apr.15 to shareholders of ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe 3 Best Cannabis Stocks to Buy in April 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-03 01:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2024/04/the-3-best-cannabis-stocks-to-buy-in-april-2024/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Here are some of the top cannabis stocks that could see higher highs.\nInnovative Industrial Properties (IIPR): IIPR just declared a $1.82 per share dividend, payable on Apr.15 to shareholders of ...</p>\n\n<a href=\"https://investorplace.com/2024/04/the-3-best-cannabis-stocks-to-buy-in-april-2024/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NLCP","symbol_name":"NewLake Capital Partners, Inc.","start_time":0,"source_url":"https://investorplace.com/2024/04/the-3-best-cannabis-stocks-to-buy-in-april-2024/","article_id":"2424935027","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2424935027","pubTimestamp":1712078845,"sourceInfo":{"source_id":"investorplace_stock_picks","name":"InvestorPlace stock picks"},"weMediaInfo":null,"summary":"Cannabis may be a controversial investment but it may also be profitable for some of the best cannabis stocks to buy for April.","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NLCP":"NewLake Capital Partners, Inc.","BK4171":"工业房地产投资信托","AFCG":"AFC Gamma, Inc.","BK4224":"工业房地产信托","IIPR":"Innovative Industrial Properties Inc","REIT":"ALPS Active REIT ETF","BK4110":"抵押房地产投资信托"},"translate_title":"2024年4月最值得购买的3只大麻股票","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AFCG":1,"IIPR":1,"NLCP":1,"REIT":1},"content_text":"Here are some of the top cannabis stocks that could see higher highs.\nInnovative Industrial Properties (IIPR): IIPR just declared a $1.82 per share dividend, payable on Apr.15 to shareholders of record as of Mar. 28.\nAFC Gamma (AFCG): TD Cowen recently reiterated a buy rating on the AFCG stock, with a price target of $15.\nNewLake Capital Partners (NLCP): The board of directors of this cannabis REIT increased its dividend to 41 cents.\n\n\n\n\n\n \n\nSource: Shutterstock \n\n\n\nCannabis may be one of the most controversial investments. But it may also prove to be one of the most profitable this year for related cannabis stocks. That being said, here are some of the best cannabis stocks to buy for April.\nFor one, the Pew Research Center just found that about nine in 10 Americans (88%) said that cannabis should be legal for medical or recreational use. About 57% said cannabis should be legal for both medical and recreational use. About 32% said it should just be legal for medical use, while about 11% said cannabis should not be legal at all.\nTwo, President Biden mentioned cannabis in his State of the Union. In fact, according to The New York Times, he noted he was “directing my cabinet to review the federal classification of marijuana, and expunging thousands of convictions for the mere possession because no one should be jailed for simply using.”\nThree, we expect for one of the candidates to advocate for the removal of cannabis from the controlled substance list, and push for federal legalization. If that happens, or we hear about that potential, cannabis stocks could soar.\nThat being said, investors may want to consider buying cannabis stocks on the cheap, such as:\nInnovative Industrial Properties (IIPR)\nSource: ShutterstockOn Jan. 10, I highlighted opportunity in Innovative Industrial Properties (NYSE:IIPR), as it traded at around $94. After hitting a recent high of $105.01, it’s slipping on healthy profit-taking. Last trading at $100.02, I’d use weakness to buy more. \nBetter, while we wait for potential legalization at the federal level, we can collect its current yield of about 7.22%. IIPR just declared a $1.82 per share dividend, which is payable on April 15 to shareholders of record as of March 28.\nEven better, earnings may only get better, as the cannabis story grows. In its most recent quarter, its funds from operations (FFO) was $2.07, which beat by five cents. Revenues of $79.16 million — up 12.3% year over year — beat by $2.68 million. Also, rent collection for its operating portfolio was 100% for the fourth quarter. I should also note IIPR’s operating portfolio is 95.8% leased, as triple net.\nAFC Gamma (AFCG)\nSource: ShutterstockThe last time I mentioned AFC Gamma (NASDAQ:AFCG), it traded at around $11.50 on August 14. After hitting a recent high of $12.87, it’s also pulling back on healthy profit-taking. And just like IIPR, I’d use weakness as an opportunity. Plus, AFCG also carries a yield of 15.32% after declaring a dividend of 48 cents, payable Apr. 15 to shareholders of record as of Mar. 31.\nEarnings have been solid here, too. In its most recent quarter, it posted EPS of 49 cents, which was in line. Net interest income of $15.97 million — which was down nearly 19% year over year — beat by $60,000.\nIn addition, TD Cowen recently reiterated a buy rating on the AFCG stock, with a price target of $15. All on news AFC Gamma will spin off its commercial real estate business into an independent real estate investment trust (REIT). \nThat, according to TD Cowen, will allow it to concentrate on the cannabis lending side of the business, which is expected to grow. Lake Street analysts also have a buy rating on the stock, with a price target of $18 a share.\nNewLake Capital Partners (NLCP)\nSource: ShutterstockWe can also look at NewLake Capital Partners (OTCMKTS:NLCP), which yields 8.55%. In early March, the board of directors increased its dividend to 41 cents per share of common stock, an increase of 2.5% sequentially and 5.1% year over year. \nThe REIT, which provides real estate capital to licensed cannabis operators through sale-leaseback transactions and now owns a portfolio of 31 properties comprised of 14 cultivation facilities and 17 dispensaries. Earnings have also been solid.\nIn the fourth quarter, the company’s revenues of $13 million were up 6.4% year over year. Net income totaled $7 million from $6.7 million. For full-year 2023, revenue jumped 5.1% year over year to $47.3 million. Net income jumped to $24.6 million from $22 million, as well. \n“We believe we have a portfolio of high-quality assets, strong operating results and cash flow, an unencumbered balance sheet and a growing pipeline of opportunities to invest in,” added CEO Anthony Coniglio. \nHelping, analysts at Compass Point upgraded NLCP to a buy rating, with an $18.25 target.\nOn the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nIan Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.Healthcare, CannabisDividend Stocks\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/04/the-3-best-cannabis-stocks-to-buy-in-april-2024/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2424935027"}