In 2020, Pure Sunfarms was the top-selling brand of dried flower products at the Ontario Cannabis Store. In November 2020, Pure Sunfarms became wholly owned by Village Farms, after Village Farms bought out its former partner. Village Farms entered the marijuana-growing business via its Canadian Pure Sunfarms joint venture (JV) with Emerald Health Therapeutic. It has leveraged this experience to become the lowest-cost greenhouse producer of marijuana in Canada, according to the company. While it only entered the cannabis business in 2017, it has 30 years of experience as one of the largest greenhouse growers of produce in North America. Village Farms has operations in its home base of British Columbia, Canada, and in Texas. Village Farms: A small player with big potential These sources generally can't deal with companies that directly handle marijuana because the substance isn't legal on the federal level. The main risk for IIP? Once more traditional sources of providing capital (such as banks) open up to cannabis companies, IIP will face increased competition. Currently, the stock is yielding about 3%. In 2020, the company increased its dividend 58%.
Indeed, REITs are required to pay out at least 90% of their taxable income each year as dividends to shareholders in return for their special tax treatment. The main reason IIP is the least-risky (that does not equate to "safe") pure play on cannabis, in my opinion, is that it's profitable, while nearly all other cannabis companies are losing money. (FFO is a key profitability measure for REITs, and drives dividend changes.) Earnings per share and adjusted funds from operations (FFO) per share surged 61% and 53%, respectively. In 2020, IIP's revenue skyrocketed 162% year over year to $116.9 million, driven heavily by the acquisition of 20 new properties. Moreover, some of the states in which it already owns properties - such as New Jersey - have recently legalized marijuana for recreational use, which should significantly increase the size of the overall legal marijuana market in those states.
#Pure source 2 best buy plus
Currently, medical-use cannabis is legal in 36 states plus Washington, D.C., so the company has the potential to enter new states in addition to expanding in its current ones. As of this writing, the company owned 68 fully leased properties in 18 states. (Triple net means that tenants are responsible for paying property taxes, insurance, and maintenance.) It specializes in sale-leaseback transactions, primarily focusing on facilities used for growing and processing cannabis, though it also buys dispensaries. states where medical marijuana is legal and leases them to state-licensed operators using long-term, triple-net leases. IIP, which is based in San Diego, buys properties in U.S. It's organized as a real estate investment trust (REIT). When Innovative Industrial Properties (often called "IIP") went public in December 2016, it became the first publicly traded company to provide real estate capital to the medical-use cannabis industry. Innovative Industrial Properties: The least-risky cannabis pure play
Innovative Industrial Properties ( IIPR -1.44%)ĭata sources: YCharts.
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