UCASU named among Booming
Stocks of Cannabis Property
October 20, 2021 --
InvestorsHub NewsWire -- via MoneyChatsGroup -- UC Asset (OTCQX:
UCASU) was named among a few other public companies which are
expanding their portfolio in cannabis-related properties, in a
recent market watch report produced by Money Chats Group. The
report samples the most noticeable US public companies which have
had significant investment in cannabis properties in the past 2
years, and majority of them have shown tremendous growth in revenue
and profit.
Here are the stocks sampled by
this report.
Innovative Industrial Properties (NYSE:
IIPR)
Founded in December, 2016,
IIPR is the first NYSE public company providing real estate capital
to the medical-use cannabis industry. Its stock closed at $16.95 on
its first trading day, December 05, 2016, and it closed above $247.0 on October 18, 2021.
This is a 1460% increase over a period of less than 5
years.
The company, according to its
SEC filings, achieved 101% quarterly revenue growth and 120%
quarterly net income growth by June 30, 2021.
Power REIT (AMEX:
PW)
PW is a specialized
real-estate investment trust (REIT). In February 2020, it announced
to expand its portfolio in greenhouses for food and cannabis
cultivation. In the last 20 months since this announcement, its
stock price has soared from $8.45 (February 03,2020) to
$52.99(October 19, 2021), an increase of 627%. In other words, its PPS grew 2.5x times every
10 months.
The company's quarterly
revenue achieved a 133% growth and quarterly net income achieved a
221% growth, by June 30, 2021.
UC Asset (OTCQX:
UCASU)
UCASU is a master limited
partnership (MLP) formed in 2016, for the purpose of investing in
real estate with innovative strategies. On September 29, 2021, it
announced to expand its portfolio in cannabis related properties.
Since this announcement, stock price grew by 77%, from
$1.10(September 27,2021) to $1.95(October 19, 2021).
Even before the announcement,
its net equity per share had grown by 20% in the 12-month period
ended June 30, 2021. Most recently, Zack Small-cap Research set
the target price of its stock at $4.50 per share, and that
target price had not included potential impact of more cannabis
properties in its portfolio.
NewLake Capital Partners(OTCQX:
NLCP)
NewLake Capital Partners is
cannabis REIT, providing real estate capital to state-licensed
cannabis operators. Founded in 2019, it closed on its IPO raising
$102 million in August 2021, and started to trade at OTCQX on
August 20.
The company has a very limited
history of operation. As of October 19, 2021, its stock closed at
$30.25, slightly above its initial trading price of
$28.00.
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SOURCE: MoneyChatsGroup