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The Best Auxiliary Marijuana Stocks While The Market Is Down? 3 To look at in the long term

Top Ancillary Cannabis Stocks and Declines in June 2022

Are you looking for the best in the long term marijuana stocks invest ? The top cannabis stocks to watch right now are notorious for high market volatility, making it difficult for long-term investors to find stability. Long-term investors, on the other hand, are increasingly interested in ancillary cannabis stocks. Ancillary cannabis companies are those that support the cannabis industry without working with the plant. There are currently a variety of companies supporting the cannabis industry. – MarijuanaStocks

Over the long term, cannabis REITs have been one of the best performing segments of the marijuana stock market. Some have provided investors with strong 5-year returns and could be setting themselves up for another run. In last week’s trading, the majority of cannabis stocks hit new 2022 lows, matching 2020 levels. We could see further attempts to pass cannabis legislation in Congress this summer, that could serve as potential catalysts.

Real estate is provided by some ancillary companies, while lighting and hydroponic equipment are provided by others. These ancillary marijuana stocks suffered heavy losses in trading last week as the Federal Reserve raised interest rates by 75 basis points to fight inflation. They also reduced GDP growth in the United States, forecasting 1.7% in 2022, a significant decline. Due to the current market volatility, many seasoned cannabis investors are trading the best marijuana stocks using short-term strategies. Make a list of best marijuana stocks for 2022 could help you determine where the best opportunities are for long-term investing or short-term trading.

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Top Ancillary Cannabis Stocks to Watch This Week

  1. Innovative Industrial Properties, Inc. (NYSE: IIPR)
  2. AFC Gamma, Inc. (NASDAQ: AFCG)
  3. The Scotts Miracle-Gro Company (NYSE: SMG)

Innovative Industrial Properties, Inc.

Innovative Industrial Properties, Inc. is a marijuana REIT focused on the regulated cannabis sector in the United States. The company now has 7.7 million square feet of rental space and aims to build an additional 2.7 million square feet in the near future. With an average lease term of 16.4 years, the majority of these facilities are fully let. Currently, the company has 107 properties across 19 states. By April, IIP had committed $1.9 billion for building repairs, with an additional $227.1 million in prepayments for tenants. IIP continues to purchase properties, primarily in Pennsylvania and Massachusetts, and expects significant growth in its lease portfolio in 2022.

IIP announced its first quarter 2021 results in May, reporting total revenue of $64.5 million, up 50% from the prior quarter. Additionally, in the first quarter of 2022, reported net income attributable to common shareholders was $34.7 million, or $1.32 per diluted share. On April 14, 2022, the company declared a quarterly dividend of $1.75 per common share, up 17% from Q4 2021. This translates to an annual dividend of $7.00 per share. IIP acquired six properties and made five lease amendments between January 1 and May 4 to make additional improvements to other properties. June 15e IIP has declared a regular quarterly dividend of $0.5625 per share. Dividends are payable on July 15, 2022 to shareholders of record at the close of business on June 30, 2022.

Performance of IIPR shares

June 17e, IIPR stock closed at $108.34 and was down 20.36% over the past month. The stock is currently trading within a 52-week price range of $107.52 to $288.02, down 58.79% year-to-date. IIPR stock has a 12-month median price target of $220 per share, according to CNN Business analysts. In this forecast, it would be an increase of 103.06% from the previous trade price of $108.34.

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AFC Gamma, Inc.

AFC Gamma, Inc. is a well-known cannabis company with strong cash flow and well-managed operations. The company, created in 2020, specialized in real estate and other securities, as well as in locations with solid supply/demand fundamentals and favorable legal conditions. AFCG specializes in senior loans, mortgages, construction loans, bridge financing and other unconventional financing solutions. AFC Gamma’s most recent ventures have focused on the growing cannabis business. With Verano Holdings Corp., the company agreed to a $250 million credit increase and a $100 million option in 2021. (OTC: VRNOF).Action AFCG

The company reported first-quarter net income of $10.2 million, or $0.53 per basic weighted share, in May. Additionally, the company’s distributable income for the first quarter of 2022 was $11.9 million. AFC also paid a dividend of $0.55 per common share on April 15, up 10% from the prior quarter. In addition, the company has made $154.2 million of new commitments and funded $131.5 million of new existing obligations as of the first quarter of 2022. As of May 9, the company had a total loan commitment of $482.7 million, which was split among 12 holding companies. June 15e the company declared a dividend of $0.56 per share for the quarter ending June 30, 2022.

AFCG stock performance

AFCG stock closed at $15.90 on June 17e down 9.86% from the previous month. The stock is down 30.14% year-to-date, with a price range of $14.90 to $25.50. CNN Business analysts estimate a 12-month average price of $25 per share for AFCG stock. This forecast points to a gain of 57.13% from the stock’s most recent trading price of $15.90.

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The Scotts Miracle-Gro Company

Scotts Miracle-Gro, the world’s largest maker of branded consumer lawn and garden products, has entered the cannabis market. The company’s wholly-owned subsidiary, Hawthorne Gardening, distributes cannabis nutrients, lights and hydroponic equipment. Scotts introduced Luxx Lighting and True Liberty Bags to the Hawthorne portfolio on January 6. The purchase will strengthen Hawthorne’s advanced lighting portfolio. Despite Hawthorne’s sales declining, the company maintained its full-year guidance.smg shares

Scotts reported record consumer sales for the second quarter of 2022 in May, citing increased lawn and garden demand as the reason. For the three months ended April 2, 2022, GAAP earnings from continuing operations were $4.94 per diluted share, compared to $5.44 per diluted share a year earlier. Non-GAAP adjusted diluted earnings per share fell to $5.03 from $5.64 a year earlier. Fiscal second-quarter sales were $1.68 billion, down 8% from $1.83 billion a year earlier. US consumer segment sales increased slightly to $1.38 billion. Hawthorne’s industry recorded a 44% reduction in sales to $202.6 million. In June, Scotts lowered its sales and EPS outlook to adjusted earnings per share of between $4.50 and $5 for fiscal year 2022. Sales to U.S. consumers are expected to decline 4-6%. Hawthorne sales are expected to fall 40-45% for the year ending September 30, 2022.

Performance of SMG shares

SMG stock closed at $76.69 on June 17e down 22.31% last month. Currently, the stock has a 52-week price range of $74.77 to $198.18 and is down 52.37% year-to-date. According to CNN Business analysts, SMG stock has a 12-month price target of $110 per share. This forecast represents a 43.42% increase from its last trading price of $76.69.

Find the best long-term positions in cannabis stocks

You should do your own research on cannabis companies before investing in them. Reviewing earnings and press releases can help you determine which companies to invest in. Tracking a stock’s performance in the market can also help you determine the best time to buy. Some investors choose to increase their long-term investments in small increments until they reach their target level. This helps them get the biggest price average when opening a position. These three ancillary cannabis companies can be great to add to your long-term portfolio, as many factors continue to give marijuana businesses possible momentum.