|Bid||81.26 x 1300|
|Ask||81.49 x 900|
|Day's Range||80.01 - 81.85|
|52 Week Range||31.10 - 93.24|
|Beta (3Y Monthly)||1.77|
|PE Ratio (TTM)||108.04|
|Earnings Date||May 6, 2019 - May 10, 2019|
|Forward Dividend & Yield||1.80 (2.20%)|
|1y Target Est||85.50|
Canopy Growth's Acreage Acquisition Boosts Sentiment(Continued from Prior Part)ACB, IIPR, and OGI gain On April 18, in the first half of the trading session, Aurora Cannabis (ACB) was trading up 1% while Innovative Industrial Properties (IIPR)
Innovative Industrial Properties, Inc. (IIPR) closed at $80.38 in the latest trading session, marking a -1.66% move from the prior day.
CGC, HEXO, CTST Moving Higher Today(Continued from Prior Part)Tilray mutedOn April 17, Tilray (TLRY) remained muted, with the stock almost flat as of noon. The stock remained depressed as the overall cannabis industry has slumped in April.
Innovative Industrial Properties Inc. (NYSE:IIPR) has announced that it has acquired a five-property portfolio in California of approximately 102,000 square feet of space. This is the second acquisition the company is making in California after it had earlier made an investment in Sacramento. Property acquired at $27 million The company purchased the southern California portfolio for […]The post Innovative Industrial Properties Acquires Five-Property Portfolio In Southern California appeared first on Market Exclusive.
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a five-property portfolio in southern California, which comprises approximately 102,000 square feet of industrial space.
When most people think of marijuana stocks, the last thing they think of is dividends. Furthermore, U.S. investors in the marijuana space tend to currently focus on a handful of Canadian companies which have enjoyed the opportunity to list on U.S. exchanges. The company remains one of the most popular marijuana pharmaceuticals developers.
Aphria Declines, Other Cannabis Stocks Follow(Continued from Prior Part)Sector declinesAround mid-day, most of the cannabis stocks fell after Aphria (APHA) reported disappointing earnings. The ETF Horizons Marijuana Life Sciences ETF (HMMJ)
Cannabis Sector Was Disappointing Last Week(Continued from Prior Part)Sectoral weakness Last week, Cronos Group (CRON) ended in the negative territory. Cronos Group had a weekly decline of 7.4%, which was in line with the broader sectoral weakness.
HENDERSON, NV / ACCESSWIRE / April 12, 2019 / The Cowen Group has projected that the cannabis industry will see $75 billion in global annual sales by 2030, up from a previous forecast of $50 billion by ...
TLRY, CGC, CRON, and CTST Continue to Slide on April 11(Continued from Prior Part)Cannabis stocks fall Cannabis stocks continued to fall on April 11, with major companies Canopy Growth (WEED), Tilray (TLRY), and Aurora Cannabis (ACB) among the top
Do Cannabis Stocks Look Cheap at These Valuations?(Continued from Prior Part)Comparing valuation multiples As of April 9, the median forward EV-to-sales multiple of our select group of 12 cannabis players was about 6.2x. The popular cannabis stocks
Do Cannabis Stocks Look Cheap at These Valuations?(Continued from Prior Part)Trading compsThe cannabis sector’s median forward EV-to-EBITDA (enterprise value-to-earnings before interest, tax, depreciation, and amortization) multiple was 23.6x,
CTST, HEXO, and APHA: Cannabis Stocks Fall on April 9Stocks trending lowerCanopy Growth (WEED) (CGC), one of the major cannabis stocks in Canada, lost ~2.6% during the day on April 9. Aurora Cannabis (ACB) fell ~2.6% around 12:00 PM EST on April 9.
According to Arcview Market Research and BDS Analytics, global consumer marijuana outlays are estimated to climb 38% to $16.9 billion this year, up from a projected $12.2 billion last year, $9.5 billion in 2017, and $6.9 billion in 2016.
Biggest Gainers in the Cannabis Sector Last WeekGainers In the week ending April 5, the overall cannabis sector ended in the positive territory. The Horizons Marijuana Life Sciences ETF (HMMJ) rose ~0.93% from the closing on March 29 to the closing
There's No End in Sight for Tilray's Slump(Continued from Prior Part)The gainers The cannabis sector looks set to end up in the green on the last day of the week. The ETFMG Alternative Harvest ETF (MJ) was in the green with an increase of 0.6%, and
Opposition to cannabis has come from an unexpected place in recent days -- blue-state America. Thus far, the states which have legalized pot all lean left, or at least center-left. Hence, it may have come as a surprise when legalization efforts faced roadblocks in two key blue states: New Jersey and New York.In New Jersey, the governor wants to grant legal status to cannabis. However, lawmakers canceled the vote since it does not appear to have enough support in the State Senate.New York faces obstacles in the state capitol and several localities. Governor Andrew Cuomo has indicated that he will miss the deadline to include it in April's state budget. Moreover, many counties, some which encompass metro New York City, have expressed interest in opting out of legalization.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Dangerous Dividend Stocks to Avoid This primarily affects stocks with weed-based operations in the state. Thankfully for Canopy Growth (NYSE:CGC) investors, its recent move into New York state involves the production of recently legalized hemp. However, these three smaller, U.S.-based marijuana stocks could face pain as these key states delay legalization: Innovative Industrial Properties (IIPR)Innovative Industrial Properties (NYSE:IIPR) stands out among other marijuana stocks by acting as a real estate investment trust (REIT). It earns revenue by owning greenhouses in industrial space and renting them out to growers.Also, due to its REIT status, it offers a dividend, something that most other marijuana stocks typically do not offer. Moreover, the company hiked the quarterly dividend to 45 cents per share last month, a yield of around 2.25%.However, with legalization efforts in New York tied off, IIPR stock could face setbacks. The company owns 13 properties total, two of them located in New York state. This comprises just over 15% of its total property. Interestingly, the San Diego-based firm owns more property in New York than in its home state of California.The company likely bought these properties in anticipation of legalization. Still, with both hemp and medical marijuana legal, it could pivot into those industries. Also, at a forward price-to-earnings ratio of 28.6, it trades at a lower multiple than other marijuana stocks.However, investors could still punish it in the near term for its relatively large stake in New York. Until New York's state government provides more clarity, investors should probably avoid IIPR. Acreage Holdings (ACRGF)The public may know Acreage Holdings (OTCMKTS:ACRGF) best for its group of backers. Its Board members include prominent politicians such as former Massachusetts Governor Bill Weld and former Canadian Prime Minister Brian Mulroney. Former House Speaker John Boehner, who was once an opponent of marijuana, also sits on the board.It may need this political firepower as it contends with its presence in both New Jersey and New York. New Jersey is home to its 135,000 sq. ft. cultivation facility. It also partnered with a licensed alternative treatment facility in the state, presumably on the assumption that New Jersey would legalize. In New York, it runs four dispensaries and a 70,000 sq. foot cultivation facility.Trading at 195 times sales, the market prices it for perfection. Before this news came out, analysts had expected Acreage to turn a profit next year. They also predicted that revenues would rise by 115%. Now, with the status of weed in question in both states, investors may become wary.Also, it has only traded on the OTC markets since November. After briefly plummeting to $12 per share in December, it has settled at about $22 per share, not far above its IPO price. * 10 Best Stocks for 2019: The Race Is On Acreage may benefit later from its substantial political influence. However, with its sizable presence in these states and its failure to move higher in its brief history, investors should stay away from ACRGF stock for now. Medmen (MMNFF)MedMen (OTCMKTS:MMNFF) describes itself as the "standard bearer" of the legal cannabis industry in the U.S. It owns facilities for cultivation, manufacturing and retail in five key states. Unfortunately, one of those states is New York, where it runs three dispensaries.MedMen also intends to buy PharmaCann, a private company that was awarded licenses to operate four dispensaries and a 128,000 sq. foot production facility in New York.MMNFF stands as an OTC stock trading at about $3 per share. However, it boasts a market cap of just under $1.5 billion and a price-to-sales ratio of 16.9. This multiple appears quite reasonable compared to other marijuana stocks. Analysts also forecast triple-digit revenue growth and possibly, a positive net income next year.However, a political setback in New York could delay that move to profitability. It also lessens the appeal of the PharmaCann merger, which both companies first announced in October. Given these doubts, investors should probably not buy until they see a clearer path in New York state. Concluding ThoughtsDelay or denial of legalization will profoundly affect all of these stocks. However, once these issues become old news, the stock could also benefit from the delay.The experience with marijuana stocks in Canada may serve as a lesson in this instance. Following legalization, a "sell the news" effect took place, and most cannabis equities plunged over the next two months. I have previously speculated that marijuana stocks would eventually become so-called "sin" stocks similar to Altria (NYSE:MO) and Constellation Brands (NYSE:STZ). Such equities tend to become dividend payers with low P/E ratios, drawing a much different type of investor.These legal setbacks could actually postpone such a fate, adding to the appeal of marijuana stocks, even the ones with a presence in New York and New Jersey. Hence, investors should not only seek to understand the short-term effects but also learn to look beyond them.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Stocks That Would Be Hurt By a Mexico/U.S. Border Closure * 7 A-Rated Healthcare Stocks for Industry Expansion * 10 Stocks That Every 30-Year-Old Should Buy and Hold Forever Compare Brokers The post 3 Marijuana Stocks to Watch as New York, New Jersey Delay Legalization appeared first on InvestorPlace.
HENDERSON, NV / ACCESSWIRE / April 5, 2019 / According to CannaNews, a leading cannabis industry publication, as the industry moves toward large-scale production, "growers' energy consumption continues ...
CORAL GABLES, FL / ACCESSWIRE / April 4, 2019 / When speaking about the marijuana stock market, one cannot help but bring into the conversation the importance of companies with ancillary functions in the cannabis sector. ParcelPal Technology Inc (PTNYF) (PKG), Innovative Industrial Properties Inc (IIPR), Charlotte's Web Holding Corp (CWBHF), and Cronos Group Inc (NASDAQ: CRON, TSX: CRON) are 4 pot stocks heating things up on Thursday. ParcelPal Technology Inc (PTNYF) (PKG) today announced that the Company will be hosting an investor update conference call on May 17th, 2019 for the purpose of reviewing the Company's recent progress as well as provide investors with plans for the future.
Experts are of the view that the marijuana industry would generate as much as $5 billion in annual revenues over the next two years.
Innovative Industrial Properties, Inc. (IIPR) closed at $76.96 in the latest trading session, marking a +0.08% move from the prior day.
CGC, CRON, and APHA Are in the Green on April 3(Continued from Prior Part)In the green HEXO (HEXO) was gaining in the first half on April 3 along with Tilray (TLRY) and Innovative Industrial Properties (IIPR). HEXO gained about 0.34%, while Tilray