Easterly Government Props Stock (NYSE: DEA)

Easterly Government Props Stock (NYSE:DEA), Trade Ideas

Easterly Government Props

Easterly Government Properties Inc is a real estate investment trust. It is engaged in the acquisition, development, and management of Class A commercial properties that are leased to U.S. government agencies. The company generates all its revenue by leasing its properties to such agencies.

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In <a href="https://beaconsecurities.ca/about/">Beacon Securities</a>&#39;s latest report issued after the <a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article">Benzinga Cannabis Capital Conference</a> in Florida, analysts delved into significant developments and key conversations that are shaping the future of the cannabis industry.
The report highlights the optimism among key operators and multi-state operators (MSOs) regarding impending regulatory changes and their potential to transform the industry&#39;s landscape.
<h3>Anticipation For DEA&#39;s Rescheduling Decision</h3>
A major point of discussion was the anticipated reclassification of cannabis from a&nbsp;Schedule I substance to&nbsp;Schedule&nbsp;III following the <a href="https://www.benzinga.com/markets/cannabis/23/08/34120876/health-officials-to-dea-ease-federal-restrictions-on-cannabis-will-this-set-stage-for-legalizati">August recommendation</a>&nbsp;from the Dept. of Health and Human Services to the DEA to ease federal&nbsp;restrictions on cannabis.&nbsp;
The DEA&nbsp;move, expected soon, could eliminate the stringent restrictions of the 280e&nbsp;IRS tax code, sparking enthusiasm among industry players. However, the exact timeline remains uncertain, with speculation swirling around the possibility of a decision aligning with the politically charged 4/20 holiday.&nbsp;
&ldquo;The issue is now in front of the DOJ&rsquo;s Office of Legal Counsel, indicating it is approaching the finish line. The question continues to be whether or not the DEA will hold a public comment period. If it does, the required time implies the decision should come sooner rather than later. There was also some speculation that the combination of <a href="https://www.benzinga.com/markets/cannabis/24/04/38278653/cannabis-banking-reform-closer-than-ever-d-c-insiders-tell-benzinga-conference-cannabis-etf-spik">Rescheduling</a>, <a href="https://www.benzinga.com/markets/cannabis/24/04/38278653/cannabis-banking-reform-closer-than-ever-d-c-insiders-tell-benzinga-conference-cannabis-etf-spik">SAFER Banking</a>, and an expected DOJ memo may be enough to allow US exchange listings,&rdquo; reads Beacon&#39;s&nbsp;report.&nbsp;
This rescheduling could pave the way for U.S. exchange listings, signaling a major shift in the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33482521/curaleaf-and-trulieve-lead-the-pack-in-tax-payments-a-look-at-16-cannabis-msos-liab"> industry&#39;s financial </a>and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/34153665/cannabis-tax-changes-could-trigger-504-cash-flow-leap-which-industry-players-will-b">regulatory framework</a>.&nbsp;
<h3>SAFER Banking And Cryptocurrency Integration</h3>
Meanwhile, attendees to the Conference also discussed the effort to attach the <a href="https://www.benzinga.com/markets/cannabis/23/09/34960099/crypto-twist-safer-banking-act-insights-cory-gardner-ed-perlmutter-at-benzinga-cannabis-capital-">SAFER Banking Act</a> to a <a href="https://www.benzinga.com/markets/cryptocurrency/22/05/27115920/what-are-stablecoins-how-do-they-work-how-many-are-there">cryptocurrency</a> (<a href="https://www.benzinga.com/money/are-stablecoins-safe-right-now">stablecoin</a>) legalization bill, suggesting an innovative legislative strategy.&nbsp;
This proposed package aims to streamline cannabis banking and financing, making it more accessible and less risky for financial institutions.
<h3>Florida&#39;s Path To Adult-Use Legalization</h3>
The push for adult-use cannabis legalization in<a href="https://www.benzinga.com/topic/florida-cannabis"> Florida</a> faces a tough battle, with <a href="https://floridapolitics.com/archives/670221-fau-poll-just-47-support-recreational-pot-measure-with-18-undecided/">recent polls</a> indicating that support falls just short of the required 60% voter approval. Despite this, the report noted industry leaders are rallying, with <a href="https://www.benzinga.com/markets/cannabis/24/04/38077599/cannabis-companies-pony-up-15m-to-support-florida-legalization-amendment-adding-to-trulieves-40m">significant financial support</a>&nbsp;flowing into the campaign.
The presence of an abortion rights measure on the same ballot could indirectly benefit the cannabis initiative by boosting voter turnout and diverting opposition funds. Florida&#39;s<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38037571/floridas-6b-cannabis-market-anticipates-400-growth-following-court-decision-allowin"> potential market expansion</a> is a tantalizing prospect for operators, both established and new entrants, signaling a fervent commitment to overcoming legislative hurdles.
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DEA Public Comment Period And A Cannabis-Related Crypto Bill? You Heard It First At Benzinga Conference

~ Easterly continues its growth trajectory by acquiring a federally leased facility that carries an inaugural 20-year term ~
Easterly Government Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEA#NYSE">DEA</a>) (the "Company" or "Easterly"), a fully integrated real estate investment trust focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government and its adjacent partners, announced today that it has acquired a 135,200 square foot facility primarily leased to the Office of the Chief Information Officer ("OCIO") and Office of Human Capital of the U.S. Immigration and Customs Enforcement (ICE), located near Dallas, Texas ("ICE - Dallas").
ICE - Dallas is a 95% leased facility that has been renovated to suit the ICE's OCIO and Office of Human Capital. The OCIO is responsible for delivering innovative information technology (IT) and business solutions that enable ICE to protect and secure the nation. The asset will help facilitate the OCIO's mission critical IT initiatives to modernize ICE's IT systems and adapt and conform to modern IT management disciplines. Two additional triple net (NNN) private tenants occupy the remaining leased space and feature annual lease escalations. The weighted average initial lease term for all three tenancies is 16.2 years and still carries a weighted average remaining lease term of 13.3 years at the time of this release.
"This strategic acquisition positions us to further enhance Easterly's cashflows and provide accretive growth for our shareholders," said Darrell Crate, Easterly's Chief Executive Officer. "With the addition of this asset and the excellent creditworthiness of our tenancy, we continue to fortify our balance sheet to enable continued growth across market cycles."
Easterly's acquisition value was predicated on the current leased square footage of the property, which excludes unleased space to which we attribute no value as part of the purchase price. ICE - Dallas currently has an additional 6,154 square feet available for future leasing as a value-add opportunity.
With this acquisition, Easterly owns, directly or through the Company's joint venture, 91 properties totaling 8.9 million square feet.

Easterly Government Properties Acquires 135,200 SF U.S. Immigration And Customs Enforcement Information Technology Facility Near Dallas, Texas; No Financial Terms Disclosed

In an era where financial stability is paramount, exploring avenues for reliable passive income has become increasingly crucial. One often overlooked option is earning dividends from government-operated properties.&nbsp;
Here's how: a real estate investment trust (REIT) that specializes in owning and managing properties leased exclusively to government agencies. Let&#8217;s dig in.
<h2 class="wp-block-heading">Easterly Government Properties&nbsp;</h2>
Easterly Government Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEA#NYSE">DEA</a>) owns and manages a portfolio of properties leased to government agencies and contractors. Its portfolio currently consists of <a href="https://ir.easterlyreit.com/static-files/203811e1-d615-42fd-a964-0f54a43a288a">90 properties</a> containing approximately 8.8 million total leased square feet, which are leased to 40 different tenants, including the FBI, DEA, and Department of Defense.
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Easterly currently pays a quarterly dividend of $0.265 per share, equating to an annualized dividend of $1.06 per share, which gives its stock a yield of about 9.45% at the time of this writing.
On top of having a high yield, Easterly has shown a dedication to growing its dividend. It has raised its annual dividend five times since its initial public offering in 2015, so investors should consider it a reliable source of income with the opportunity to grow over time.
<h2 class="wp-block-heading">Explore Opportunities Beyond REITs</h2>
While publicly traded REITs offer a convenient way to invest in real estate, we believe that some of the most compelling opportunities lie in the private market. Benzinga's <a href="https://www.benzinga.com/go/real-estate-screener">real estate offering screener</a> features a curated selection of private market real estate offerings from trusted platforms with a track record of strong returns.
Whether you&#8217;re an accredited or non-accredited investor, you can filter opportunities based on your investment criteria, including minimum investment, property type and target return. These offerings provide a unique chance to diversify your portfolio and tap into potential high-yield investments that are not available on public exchanges.
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<h3 class="wp-block-heading">Latest Private Market Offerings</h3>
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<li><a href="https://www.benzinga.com/alternative-investments/listing/gold-leaf-farming-lp">Golden Leaf Farming LP</a>: Top-tier almond and pistachio farms with a target cash yield of 13.8%</li>
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Discover these and other exclusive real estate investment opportunities on Benzinga's offering screener. Dive into the private market and uncover the potential for substantial returns beyond the public REIT market.
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FDA Commissioner Robert Califf&#39;s Thursday&nbsp;testimony sparked new conversations about the future of cannabis in the U.S.&nbsp;particularly concerning its medical and recreational classifications.
In a recent note, senior analyst Pablo Zuanic from Zuanic &amp; Associates highlights the critical points from Califf&rsquo;s <a href="https://www.benzinga.com/markets/cannabis/24/04/38219204/fda-commissioner-to-house-committee-theres-no-reason-for-dea-to-delay-cannabis-rescheduling">appearance </a>before the House&nbsp;
Committee on Oversight and Accountability.
Califf&rsquo;s assertion that &quot;there is no reason for the DEA to delay&quot; the rescheduling of cannabis grabbed headlines, yet Zuanic urges stakeholders to look deeper into the nuances of Califf&#39;s statements, particularly his insights on the bifurcation between medical and recreational cannabis.
<h3>Medical Vs. Recreational Cannabis: A Looming Decision</h3>
The FDA Commissioner&#39;s differentiation between medical and recreational cannabis suggests an imminent federal pivot towards <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/34152542/health-dept-decision-to-move-cannabis-to-lower-risk-category-bull-case-narrative-fo">rescheduling </a>only medical cannabis this year.
&quot;Medical cannabis is one thing when used for proven medical pathways, but then if it is used for recreational purposes there are no medical benefits in that case, and it does not fall into the typical FDA purview of regulations,&quot; Califf explained.
The report suggests that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33482140/rescheduling-cannabis-what-are-the-implications-for-msos-tax-rule-280e-fda-and-phar">rescheduling</a> might only apply to medical cannabis, with recreational use remaining under state control for now.
<h3>Regulatory Pathways And The Role Of Congress</h3>
Califf emphasized the complexity of cannabis regulation and the FDA&rsquo;s role.&nbsp;&quot;This is a very complicated topic.&quot;
With over &quot;30 different forms of cannabis&quot; and state regulations predominating, Califf voiced a preference for Congressional action to establish clear federal guidelines, especially for recreational cannabis.
<a href="https://www.benzinga.com/topic/pablo-zuanic">Zuanic</a> sees this as an indication that, until Congress acts, the status quo, where states individually decide on the legality of recreational cannabis, is likely to continue.
<img alt="2231044_cccfloridagif_v2_031124-27_3.gif" src="https://www.benzinga.com/files/u503488/2231044_cccfloridagif_v2_031124-27_3.gif" style="height:528px; width:633px" />
Cannabis rescheduling and CBD will be topics of great interest at the upcoming&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noreferrer noopener" target="_blank">Benzinga Cannabis Capital Conference</a>&nbsp;on April 16-17&nbsp;in Florida. Join us for this two-day event at&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noreferrer noopener" target="_blank">The Diplomat Beach Resort</a>&nbsp;for a chance to meet entrepreneurs, both large and small, to network, learn and grow.&nbsp;Mark your calendars &mdash; this conference is the go-to event of the year for the cannabis world.
<h3>CBD&#39;s Regulatory Path Awaits Congressional Action</h3>
The FDA maintains that CBD does not qualify as a dietary supplement due to concerns over elevated liver enzymes, deferring to Congress to establish a clear regulatory framework.
Despite numerous citizen petitions for dietary supplement classification, the agency prioritizes a harm reduction approach, pending legislative guidance.
The report noted H.R. 1629 seeks to legalize <a href="https://www.benzinga.com/markets/cannabis/20/02/15387142/regulating-cbd-as-a-dietary-supplement-what-does-this-mean">hemp-derived CBD in dietary supplements</a>, contingent on meeting specific criteria, yet the FDA&#39;s current stance prohibits CBD products from being marketed as such.
<h3>Implications For The Industry And Investors</h3>
The distinction made by Califf between medical and recreational cannabis, supported by Zuanic&rsquo;s analysis, points to a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/07/33480266/msos-and-cannabis-rescheduling-a-safer-bet-analyst-looks-closer-at-pros-and-cons">significant shift </a>in the cannabis industry&#39;s regulatory landscape.
This move could have profound implications for investors and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35840800/the-billion-dollar-question-how-much-are-cannabis-multi-state-operators-really-wort">companies within the sector</a>, who might have been anticipating&nbsp;broader federal legalization.
Zuanic&rsquo;s report, backed by direct quotes from Califf and comprehensive industry data, provides a pivotal insight into the ongoing<a href="http://www.benzinga.com/analyst-ratings/analyst-color/24/02/36916566/bidens-weed-federal-government-2024-elections-tax-time-stock"> cannabis rescheduling dialogue</a>, underscoring the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36633364/marijuana-rescheduling-stock-market-reactions-analyst-insights-on-who-wins-possible">potential for change</a> and the importance of Congressional action in defining the future of cannabis regulation in the U.S.
Cannabis rescheduling and CBD will be topics of great interest at the upcoming&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noreferrer noopener" target="_blank">Benzinga Cannabis Capital Conference</a>&nbsp;on April 16-17&nbsp;in Florida. Join us for this two-day event at&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noreferrer noopener" target="_blank">The Diplomat Beach Resort</a>&nbsp;for a chance to meet entrepreneurs, both large and small, to network, learn and grow.&nbsp;Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars &mdash; this conference is the go-to event of the year for the cannabis world.
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Analyst Reacts To FDA Commish Comments: Medical And Recreational Cannabis Could Have Separate Regulations

In a House Oversight and Accountability Committee hearing Thursday, the commissioner of the Food and Drug Administration (FDA), Robert Califf faced a barrage of questions spanning various critical issues, from lead contamination in baby food to the regulation of hemp and <a href="https://www.benzinga.com/cannabis">cannabis-derived products. </a>
However, one topic dominated the discussions: the rescheduling of cannabis.
<h2 class="wp-block-heading">Cut To Cannabis</h2>
Rep. Nancy Mace (R-SC) asked Califf for an update on the Department of Health and Human Services' <a href="https://www.benzinga.com/markets/cannabis/23/08/34120876/health-officials-to-dea-ease-federal-restrictions-on-cannabis-will-this-set-stage-for-legalizati">recommendation to the DEA</a> that cannabis be moved from Schedule I to Schedule III. He responded that while the decision rests with the DEA, the FDA supports the process without specifying a timeline.
"I don't even know, but if I did, I couldn't tell you anyway. So, the timing of a regulatory decision is something that would be up to the DEA, not up to me," Califf said.
Mace asked if the decision might come "this year."
"There's no reason for DEA to delay. I think they just have to take into account all the regulations that are in play," Califf responded.
"Without revealing too much about my age, I'm a child of the 60s, so it'd be nice if in my lifetime we came up with a regulatory scheme where whatever your belief is about use of the product, where these safety issues you referred to are written into law so that we have a scheme whereby we can regulate it," Califf added. "We're referees who write the rules. We need the right rulebook in order to play the referee role."
<h2 class="wp-block-heading">Cut To CBD</h2>
Meanwhile, Committee Chair Rep. James Comer (R-KY) initiated the hearing by expressing concerns over the <a href="https://www.benzinga.com/markets/cannabis/23/01/30590141/fda-says-foods-supplements-regulations-not-appropriate-for-cbd-will-work-with-congress-to-change">FDA's January 2023 decision</a> not to&nbsp;regulate&nbsp;CBD as a food and dietary supplement ingredient.
"The FDA&#8217;s refusal to regulate hemp products is creating a significant confusion in the market, and resulting in products with intoxicants that can be dangerous to Americans who use these products. It has also halted business trying in good faith to enter the market, while bad actors continue to thrive," Comer said.
Califf, the sole witness at the hearing, agreed with the need to address these issues. "[The] FDA has concluded that a new regulatory regime is needed, which could encourage better information to inform consumers about their choices. In the meantime, [the] FDA continues to assess the evolving information base and build awareness for Americans," he wrote in his submitted testimony.
Cannabis rescheduling and CBD will be topics of great interest at the upcoming&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a>&nbsp;on April 16-17&nbsp;in Florida. Join us for this two-day event at&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">The Diplomat Beach Resort</a> for a chance to meet entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars — this conference is the go-to event of the year for the cannabis world.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/11233802/2231044_CCCFloridaGIF_V2_031124-27-23.gif" alt="" class="wp-image-288726" /></a></figure>
Now Read: <a href="https://www.benzinga.com/markets/cannabis/24/04/38210907/this-canadian-nursery-is-exporting-new-cannabis-strains-to-german-cannabis-producer-demecan">This Canadian Nursery Is Exporting New Cannabis Strains To German Cannabis Producer Demecan</a>
Photo by&nbsp;<a href="https://commons.wikimedia.org/w/index.php?title=User:CVCTforum&amp;action=edit&amp;redlink=1" target="_blank" rel="noreferrer noopener">CVCTforum</a>&nbsp;via&nbsp;<a href="https://commons.wikimedia.org/wiki/File:Cvct-2-688.jpg" target="_blank" rel="noreferrer noopener">Wikimedia</a>

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FDA Commissioner To House Committee: 'There's No Reason For DEA To Delay' Cannabis Rescheduling

A Rhode Island-based cannabis company, MMJ BioPharma Cultivation Inc., <a href="https://www.pharmiweb.com/press-release/2024-04-04/mmj-biopharma-cultivation-sues-the-dea-once-again-is-the-dea-a-rogue-agency" target="_blank" rel="noreferrer noopener">filed a complain</a>t against the Drug Enforcement Administration alleging "an unconstitutional administrative proceeding before a DEA Administrative Law Judge (ALJ). " 
Upon discovering that DEA director Anne Milgram "illegally appointed the administrative law Judge Teresa Wallbaum" to hear the case, Megan Sheehan and Associates, lawyers representing MMJ, filed for relief seeking an order to halt these what they called "unconstitutional actions." 
Last August, MMJ filed a petition for a writ of mandamus in the U.S. Court of Appeals for the District of Columbia Circuit over a bulk manufacturing application submitted almost six years ago and never processed. MMJ's president and founder Duane Boise previously told Benzinga that the inaction goes directly against the Control Substance Act, negatively impacts MMJ and ignores its effort to help those suffering individuals from Huntington's Disease and Multiple Sclerosis through clinical research.
The <a href="https://www.benzinga.com/markets/cannabis/24/04/38032920/deas-resistance-to-cannabis-rescheduling-ignites-policy-clash">DEA&#8217;s stance on cannabis</a> and possible rescheduling on the federal level will be one of many important topics discussed by industry experts at the upcoming  <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> next week.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/09155156/2231044_CCCFloridaGIF_V2_031124-27-18.gif" alt="" class="wp-image-284575" /></a></figure>
<h2 class="wp-block-heading">‘This Is Insanity'&nbsp;</h2>
In the complaint filed on Thursday in the U.S. District Court for the District of Rhode Island, MMJ argues it would be subject to "irreparable harm" under "such an unconstitutional proceeding," claiming DEA ALJ was appointed in "violation of the Appointments Clause of Article II, Section 2, of the Constitution and is not accountable to President, in violation of the Take Care Clause of Article II, Section 3 of the Constitution."&nbsp;
Boise stated, &#8220;Everyone agrees that there is a need for drugs to treat these neurological diseases- Congress, the FDA, the DEA, the doctors, parents&#8217; association &#8211; everyone&#8217;s saying the same thing. And here we have an administrative agency that just completely arbitrarily attacks a company that&#8217;s following the law to manufacture a marijuana soft gelatin capsule to help suffering patients.&#8221;
&#8220;This is insanity,&#8221; he added. &#8220;Someone&#8217;s got to act.&#8221;
The complaint further reads that the U.S. Supreme Court found that an ALJ appointment process nearly identical to that used by the DEA is unconstitutional. 
"On information and belief, the DEA ALJ presiding over MMJ's administrative hearing was selected from a group of candidates provided by the White House Office of Personnel Management ("OPM") and appointed by the DEA Administrator upon recommendation from DEA's Chief ALJ," reads the document.&nbsp;
<h2 class="wp-block-heading">‘Heartless Individuals' Hurting Patients&nbsp;</h2>
Commenting on the development, Boise <a href="https://www.accesswire.com/850770/dea-faces-marijuana-legal-scrutiny-hindering-mmj-biopharma-cultivation-marijuana-supply-for-clinical-trials" target="_blank" rel="noreferrer noopener">stated</a>, &#8220;We are dealing with heartless individuals at the DEA who continue to hinder marijuana research and development. MMJ has meticulously followed the law, yet the DEA fails to do the same. Ultimately, it is the patients in need who suffer due to government inaction.&#8221;
Tim Moynahan&nbsp;an attorney and the company&#8217;s chair added &#8220;I&#8217;m hoping that by both challenging the constitutionality of the DEA system while at the same time giving the DEA a roadmap to correct all of their errors. Someone within the DEA should settle this case particularly since MMJ is vital to completing drugs that we need to help patients suffering from Multiple Sclerosis and Huntington&#8217;s Disease.&#8221;
Related Links:&nbsp;
<a target="_blank" href="https://www.benzinga.com/markets/cannabis/23/10/35053162/court-orders-dea-to-respond-to-medical-marijuana-companys-request-for-bulk-manufacturing-registr" rel="noreferrer noopener">Court Orders DEA To Respond To Medical Marijuana Company&#8217;s Request For Bulk Manufacturing Registration</a>
The <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> is returning to Florida at a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">The Diplomat Beach Resort</a> will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world. <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Get your tickets now on </a><a href="http://bzcannabis.com/" target="_blank" rel="noreferrer noopener">bzcannabis.com</a><a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener"> – Prices will increase very soon!</a>
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'This Is Insanity, Someone's Got To Act,'  Marijuana Researcher Files Fed Lawsuit Against DEA Over 'Unconstitutional Process'

Real estate investment trusts (REITs) own, operate, or finance income-generating real estate. REITs allow individuals to invest in various types of real estate without having to directly own or manage the properties. REITs typically focus on a specific type of real estate, such as residential, commercial, or industrial, and they are required to distribute a large percentage of their taxable income to shareholders in the form of dividends, making them attractive for income-seeking investors.
Let's take a look at two REITs with yields up to 9.1% that have been growing their dividends in recent years.
<h2 class="wp-block-heading">Equity Residential</h2>
Equity Residential (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQR#NYSE">EQR</a>) acquires, develops, and manages residential properties in major cities around the U.S., including New York, Boston, Washington, D.C., and Seattle. Its portfolio currently consists of 302 properties containing 80,191 apartment units.
Equity Residential currently pays a quarterly dividend of $0.675, equating to an annualized dividend of $2.70 per share, which gives its stock a yield of about 4.2% at the time of this writing.&nbsp;
In addition to being a high yielder, Equity Residential is a dividend-growth star. It grew its annual dividend at a <a href="https://s1.q4cdn.com/843629197/files/doc_presentations/2024/Feb/29/equity-residential-investor-update-march-2024.pdf">compound annual growth rate of 6.4%</a> from 2011 to 2023 and investors should count on it for further hikes in the years ahead.
<h2 class="wp-block-heading">Don't Miss:</h2>
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<li>Investing in real estate just got a whole lot simpler. This <a href="https://www.benzinga.com/go/bezos-landlord">Jeff Bezos-backed startup will allow you to become a landlord</a> in just 10 minutes, and you only need $100.</li>
<li>Elon Musk Is Bullish On Austin. Here&#8217;s <a href="https://www.benzinga.com/go/musk-austin">How To Invest In The City&#8217;s Growth Before He Floods It With New Tech Workers</a>.</li>
</ul>
<h2 class="wp-block-heading">Easterly Government Properties&nbsp;</h2>
Easterly Government Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEA#NYSE">DEA</a>) owns and manages a portfolio of properties leased to government agencies and contractors. Its portfolio currently consists of <a href="https://ir.easterlyreit.com/static-files/203811e1-d615-42fd-a964-0f54a43a288a">90 properties</a> containing approximately 8.8 million total leased square feet, which are leased to 40 different tenants, including FBI, DEA, Department of Defense, National Parks Service, and Social Security Administration.
Easterly currently pays a quarterly dividend of $0.265 per share, equating to an annualized dividend of $1.06 per share, which gives its stock a yield of about 9.1% today. 
Easterly has also raised its dividend five times since 2015, so investors can count on it for a reliable source of income with the occasional dividend increase.
<h2 class="wp-block-heading">Explore Opportunities Beyond REITs</h2>
While publicly traded REITs offer a convenient way to invest in real estate, we believe that some of the most compelling opportunities lie in the private market. Benzinga's <a href="https://www.benzinga.com/go/real-estate-screener">real estate offering screener</a> features a curated selection of private market real estate offerings from trusted platforms with a track record of strong returns.
Whether you&#8217;re an accredited or non-accredited investor, you can filter opportunities based on your investment criteria, including minimum investment, property type and target return. These offerings provide a unique chance to diversify your portfolio and tap into potential high-yield investments that are not available on public exchanges.
<a href="https://www.benzinga.com/go/real-estate-screener">Browse offerings</a>
<h3 class="wp-block-heading">Latest Private Market Offerings</h3>
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<li><a href="https://www.benzinga.com/alternative-investments/listing/qoz-fund-iii">QOZ Fund III</a>: Realize massive tax benefits by investing in a portfolio of multifamily development projects with long-term growth potential located in designated Opportunity Zones.</li>
<li><a href="https://www.benzinga.com/alternative-investments/listing/incomeplus-fund">Income Plus Fund:</a> A private real estate fund for investors seeking passive income and appreciation &#8211; Target net annual return of 9% &#8211; 11%.&nbsp;</li>
<li><a href="https://www.benzinga.com/alternative-investments/listing/gold-leaf-farming-lp">Golden Leaf Farming LP</a>: Top-tier almond and pistachio farms with a target cash yield of 13.8%</li>
</ul>
Discover these and other exclusive real estate investment opportunities on Benzinga's offering screener. Dive into the private market and uncover the potential for substantial returns beyond the public REIT market.
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<li>Want To Grow Your Wealth Passively? <a href="https://www.benzinga.com/go/grow-wealth-passively">These High-Yield Real Estate Notes Might Be Your Holy Grail</a></li>
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Image Credit: Shutterstock

Maridose LLC, a company recognized for its contributions to the field of legalized medical cannabis research and product development, and one of the select few companies to have been granted a license by the U.S. Drug Enforcement Administration (DEA) to legally produce cannabis for research purposes, will be launching its Series A funding round at the upcoming <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a>, set to take place on <a href="https://www.benzinga.com/events/cannabis-conference/">April 16 - 17, 2024, at the Diplomat Beach Resort</a> in Hollywood, Florida,
This development marks a significant shift in the landscape of cannabis research in the United States, which has been tightly regulated since 1968, with the University of Mississippi being the sole producer of legal cannabis for research. Maridose&rsquo;s entry into this space signifies the end of this monopoly and the beginning of new opportunities for commercial product development and private investment in cannabis research.
Leading the scientific charge at Maridose is Prof. Lum&iacute;r Ondřej Hanu&scaron;, a renowned figure in cannabis research known for isolating Anandamide, the first known endocannabinoid. His partnership with the late Dr. <a href="https://www.benzinga.com/general/biotech/21/10/17885544/far-more-potent-than-thc-and-cbd-dr-raphael-mechoulam">Raphael Mechoulam</a>, known for discovering THC, has produced significant advancements in the understanding of cannabis and its potential therapeutic benefits. &ldquo;Our DEA license provides a federally legal pathway for Maridose to partner with research organizations and companies,&rdquo; Richard Shain, founder of Maridose, told Benzinga. He added, &ldquo;We are excited that Prof. Hanu&scaron;&rsquo;s immense knowledge is now available to researchers working with Maridose,&rdquo; highlighting the potential impact on patient care both in the U.S. and globally.
<ul>
<li>Pro tip: Learn all about successful strategies to raise capital in the cannabis industry at the <a href="https://www.benzinga.com/events/cannabis-conference/" rel="noopener noreferrer" target="_blank">Benzinga Cannabis Capital Conference</a>. Returning to Hollywood, Florida, on April 16 and 17, 2024, the two-day event at&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noopener noreferrer" target="_blank">The Diplomat Beach Resort</a>&nbsp;will be a chance for entrepreneurs, both large and small, to network, learn and grow. Secure your tickets for the conference ASAP. Prices will increase very soon! You can <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-spring-2024-tickets-708023295737?aff=oddtdtcreator&amp;discount=JAVIER20" target="_blank">get a 20% discount on tickets following this link right now.</a></li>
</ul>
To facilitate its Series A funding efforts, Maridose has engaged Young America Capital, signaling its readiness to attract investors and strategic partners interested in advancing the science and commercial development of cannabis.
As Maridose prepares to take the stage at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a>, its announcement not only underscores the evolving dynamics of cannabis research and investment but also sets the stage for potential breakthroughs in medical cannabis.
The&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noreferrer noopener" target="_blank">Benzinga Cannabis Capital Conference</a>&nbsp;is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noreferrer noopener" target="_blank">The Diplomat Beach Resort</a>&nbsp;will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars &ndash; this conference is the go-to event of the year for the cannabis world.
<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noreferrer noopener" target="_blank">Get your tickets now on&nbsp;</a><a href="http://bzcannabis.com/" rel="noreferrer noopener" target="_blank">bzcannabis.com</a><a href="https://www.benzinga.com/events/cannabis-conference/" rel="noreferrer noopener" target="_blank">&nbsp;&ndash; Prices will increase very soon!</a>

Exclusives

EXCLUSIVE: DEA-Licensed Cannabis Co. Maridose To Launch Series A Funding Round At Upcoming Benzinga Conference

The Drug Enforcement Administration (DEA) is revisiting its stance on the classification of two psychedelic compounds, 2,5-dimethoxy-4-iodoamphetamine (DOI) and 2,5-dimethoxy-4-chloroamphetamine (DOC), <a href="https://www.marijuanamoment.net/dea-agrees-to-hold-hearing-on-proposed-ban-of-two-psychedelics-amid-pushback-from-researchers/">reported</a> Marijuana Moment.&nbsp;&nbsp;
DEA&#39;s Proposed Ban On&nbsp;DOI And DOC
DOI and DOC have been proposed to be listed as Schedule I substances under the Controlled Substances Act (CSA). If added to the Schedule I list, these compounds would be officially considered as having high abuse potential with no recognized medical use.
The evaluation is being disputed by experts. Three formal requests for a hearing were submitted, prompting a reconsideration by the agency. The listing raises concerns within the scientific community and companies developing neurological and medical research that rely on them.
Chemically, DOI and DOC are analogs of the Schedule I hallucinogen DOM. The effects and pharmacological action of DOI and DOC are similar to those of other schedule I hallucinogens, such as DOM and lysergic acid diethylamide (LSD). These precedents will present a challenge for those who dispute&nbsp;the proposed ban. 
The DEA has now agreed to hold a hearing on June 10, 2024, at their Arlington, VA facility, in a show of&nbsp;willingness to engage in further dialogue before reaching a final decision.
History Repeating Itself
This is not the DEA&#39;s first attempt&nbsp;to tighten controls over these compounds. Discussion has been going on since 2018 when the first report was filed. The agency proposed a similar rule in April 2022, only to withdraw it later in August for further review. The core arguments for the proposed classification remain grounded in the compounds&#39; similarity to other Schedule I hallucinogens, like DOM and LSD, known for their potent effects and potential for abuse, but serious evidence of health-related issues involving abuse and death among&nbsp;users is lacking.
As in cannabis, the DEA ruling will have consequences for the future development of the medical industry including&nbsp;research based on these heavily controlled compounds. It&nbsp;could also affect advances in medical treatment for depression, anxiety&nbsp;and other mental health issues.

Psychedelics

DEA Revisits Proposed Ban On Two Psychedelic Compounds: Researchers Disagree, Insist On Hearings

A recent article in The Wall Street Journal has shed light on escalating tensions between the White House and the Drug Enforcement Administration (DEA) over proposals to reclassify marijuana. The pushback from some DEA officials stems from doubts about cannabis&#8217;s medicinal benefits and its <a href="http://benzinga.com/markets/cannabis/24/03/37603576/dea-vs-white-house-agency-pushes-back-on-medical-benefits-of-cannabis-weed-stocks-wobble">potential for addiction.</a>
<h3 class="wp-block-heading">Clash With Health Department Findings</h3>
This resistance is notably in conflict with the Department of Health and Human Services (HHS) findings from January, which acknowledged cannabis as having an accepted medical use in treatment in the United States. The HHS documents also suggested that cannabis has a lower abuse potential than substances in Schedules I and II, a stance that contrasts with the DEA&#8217;s apprehensions.
<h3 class="wp-block-heading">DEA&#8217;s Concerns And Independent Review</h3>
The DEA has voiced concerns over the THC potency in cannabis, sparking debate among marijuana advocates who are calling into question the motives behind these anonymous assertions. Despite the lack of a public stance against the HHS recommendation, DEA administrator Anne Milgram confirmed the agency is conducting its review, according to the Journal.
<figure class="wp-block-image size-full is-resized"><a href="https://cannabismarketspotlight.com/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/31222438/2231044_CCCFloridaGIF_V2_031124-41.gif" alt="" class="wp-image-270973" style="width:424px;height:auto" /></a></figure>
<h3 class="wp-block-heading">Potential Impacts Of Rescheduling</h3>
Rescheduling cannabis might not legalize it federally but could significantly benefit the cannabis industry by allowing businesses to claim federal tax deductions, currently barred under IRS code 280E. It could also facilitate more scientific research into marijuana&#8217;s therapeutic uses.
<h3 class="wp-block-heading">Optimism From Analysts</h3>
Despite these hurdles, analysts like Aaron Grey from Alliance Global Partners and an upcoming speaker at the <a href="https://cannabismarketspotlight.com/">Benzinga Cannabis Capital Conference</a> remain optimistic. In a Morningstar research note, Grey stated that the DEA is likely to follow HHS&#8217;s recommendation to reclassify cannabis to a less restrictive category, citing the substantial evidence presented by HHS.
The ongoing debate and review process keep stakeholders and observers on edge as they await the DEA&#8217;s final decision on this contentious issue.
The&nbsp;<a target="_blank" href="https://www.benzinga.com/events/cannabis-conference/" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a>&nbsp;is returning to Florida in a new venue in Hollywood on April 16 and 17, 2024. The two-day event at&nbsp;<a target="_blank" href="https://www.benzinga.com/events/cannabis-conference/" rel="noreferrer noopener">The Diplomat Beach Resort</a>&nbsp;will be a chance for entrepreneurs, both large and small, to network, learn, and grow.&nbsp;
Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars — this conference is the go-to event of the year for the cannabis world. <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Get your tickets now on </a><a href="http://bzcannabis.com/" target="_blank" rel="noreferrer noopener">bzcannabis.com</a><a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener"> – Prices will increase very soon!</a>
Now Read: <a href="https://www.benzinga.com/markets/cannabis/24/04/38029760/cannabis-on-the-rise-in-europe-why-germanys-legalization-is-a-game-changer-for-the-ecosystem">Cannabis On The Rise In Europe: Why Germany&#8217;s Legalization Is A Game Changer For The Ecosystem</a>
Image: Wally Crawfish from Pixabay

DEA's Resistance To Cannabis Rescheduling Ignites Policy Clash

The Drug Enforcement Administration (DEA) is actively seeking to dispel any illusions that its process for drug scheduling, in this case for cannabis, is opaque. An official said that the agency wants to correct &#8220;misperceptions&#8221; that it is functioning in secrecy, for which it has been roundly accused. 
In a conversation on the DEA&#8217;s <a href="https://www.google.com/search?q=%E2%80%9CPrevention+Profiles:+Take+Five%E2%80%9D+series&amp;sca_esv=5d7305874509b4d4&amp;rlz=1C5CHFA_enUS1056US1057&amp;source=lnms&amp;sa=X&amp;ved=2ahUKEwiG5fjYgJeFAxVk_8kDHfszBo8Q0pQJegQIBhAC&amp;biw=1512&amp;bih=746&amp;dpr=1.8#fpstate=ive&amp;vld=cid:8076a04c,vid:AwfvZ_jKsuU,st:0">podcast series</a> &#8220;Prevention Profiles: Take Five,&#8221; Rich Lucey, the senior prevention program manager, spoke with DEA pharmacologist Buki Ebeigbe about the marijuana scheduling process, <a href="https://www.marijuanamoment.net/dea-officials-discuss-marijuana-scheduling-timeline-seeking-to-correct-misperceptions-that-decisions-are-made-in-a-shroud-of-secrecy/">reported</a> Marijuana Moment's Kyle Jaeger on Thursday. This is the first-ever public discourse on the agency&#8217;s analysis of marijuana's Schedule I classification.
&#8220;I just think it's important for people to—again, going back to correcting misperceptions and really the issue of transparency and, by us even doing this podcast, just to help people understand the process,&#8221; Lucey said. &#8220;We don't want it to necessarily feel as if it's behind this shroud of secrecy, which I think then lends itself to this idea that it's a whole arbitrary process.&#8221;
The DEA&#8217;s silence beyond acknowledging the receipt of the U.S. Department of Health and Human Services (HHS) <a href="https://www.benzinga.com/markets/cannabis/23/08/34120876/health-officials-to-dea-ease-federal-restrictions-on-cannabis-will-this-set-stage-for-legalizati">suggestion to reclassify marijuana</a> has been a source of frustration for advocates and legislators, including co-chairs of the Congressional Cannabis Caucus Rep. Barbara Lee (D-CA) and Rep. Earl Blumenauer (D-OR), who <a href="https://www.benzinga.com/markets/cannabis/24/02/37315959/congresswoman-barbara-lee-says-marijuana-rescheduling-could-hinder-legalization-for-another-50-y">have complained</a> about the DEA's lack of transparency.
Lee and Blumenauer&nbsp;<a href="https://www.benzinga.com/markets/cannabis/23/10/35476342/marijuana-legalization-31-bipartisan-house-reps-urge-dea-to-reassess-cannabis-scheduling" target="_blank" rel="noreferrer noopener">joined 31 bipartisan lawmakers</a>&nbsp;in October 2023 in a letter to DEA administrator&nbsp;Anne Milgram,&nbsp;urging the agency to fully deschedule cannabis during its ongoing review.
This hot topic will be discussed on and off the dozens of panels and the upcoming <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> in Florida on April 16-17, so you won&#8217;t want to miss out on how rescheduling cannabis will affect this booming industry. Secure your tickets for the conference ASAP. Prices will increase very soon! You can <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-spring-2024-tickets-708023295737?aff=oddtdtcreator&amp;discount=JAVIER20" target="_blank" rel="noreferrer noopener">get a 20% discount on tickets following this link right now.</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28112908/2231044_CCCFloridaGIF_V2_031124-27-10.gif" alt="" class="wp-image-269335" /></figure>
<h2 class="wp-block-heading">Growing Support For Legal Weed Amid Sluggish Govt Movement</h2>
Despite growing public support for legalization, as evidenced by a <a href="https://www.benzinga.com/markets/cannabis/23/11/35674739/marijuana-legalization-support-hits-record-70-as-republicans-join-the-majority-shows-gallup-poll" target="_blank" rel="noreferrer noopener">November 2023 Gallup poll</a>, federal policy on cannabis has remained stagnant for decades. Rep. Lee attributes this delay to &#8220;political dynamics,&#8221; specifically partisan gridlock aimed at undermining political opponents rather than serving the public's interests.
Meanwhile, Ebeigbe said in the podcast that the process of writing the recommendation to be presented to Milgram is underway, adding that internal reviews normally take at least six months.
Given that more than six months have passed since the HHS provided its recommendation to the DEA, pressure is mounting for the agency to get a move on. 
&#8220;Once that information is compiled and that document is written—that eight-factor document is written—it's reviewed through our internal process. Ultimately, the administrator will make a decision on where to place it—whether to change it or whether to remove it or whatever,&#8221; Ebeigbe said.
The <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> in Florida is at a new venue in Hollywood on April 16 -17, 2024. The two-day event at <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">The Diplomat Beach Resort</a> will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world. You can <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-spring-2024-tickets-708023295737?aff=oddtdtcreator&amp;discount=JAVIER20" target="_blank" rel="noreferrer noopener">get a 20% discount on tickets following this link right now.</a> Hurry! Prices will increase very soon!
Photo: DEA handout

DEA Comes Out Of The Shadows To Ensure Cannabis Rescheduling Process Is Not Being Done Under 'Shroud Of Secrecy'

Three Republican Senators came out swinging at the mere idea of rescheduling cannabis, <a href="https://www.benzinga.com/markets/cannabis/24/01/36445009/biden-considers-marijuana-rescheduling-boon-or-bust-for-the-industry-former-top-fda-official-wei">as proposed by the Biden Administration</a> to the Department of Health and Human Services (HHS), which <a href="https://www.benzinga.com/markets/cannabis/23/08/34120876/health-officials-to-dea-ease-federal-restrictions-on-cannabis-will-this-set-stage-for-legalizati">passed the request</a> on to the Drug Enforcement Administration (DEA). 
The GOP trio, Mitt Romney (R-UT), James Risch (R-ID) and Pete Ricketts (R-NE) are now urging the DEA to do no such thing and to keep marijuana as a <a href="https://www.ncbi.nlm.nih.gov/books/NBK557426/#:~:text=Schedule%20I%3A,(MDMA)%2C%20and%20methaqualone.">Schedule I drug</a> along with heroin, meth and LSD.
<h3 class="wp-block-heading">What Are They Thinking?</h3>
The three amigos, led by Romney, argue in their Wednesday <a href="https://www.romney.senate.gov/romney-leads-letter-to-dea-highlighting-concerns-with-rescheduling-marijuana-and-compliance-with-u-s-treaty-obligations/">letter</a> to DEA administrator Ann Milgram that rescheduling cannabis would contravene international treaties and compromise the nation&#8217;s ability to enforce drug laws globally. 
Rescheduling marijuana should be grounded in scientific evidence and honor the U.S.&#8217;s treaty commitments, they said, referencing the 1967 Single Convention on Narcotic Drugs treaty.
The treaty mandates drug policy for member states. The DEA has previously used these international agreements when denying attempts to reschedule marijuana.
The Senators asked if the DEA still finds it necessary to categorize marijuana under Schedule I or II in compliance with the Single Convention, reflecting the agency's stance during the Obama era. 
They also raised questions about whether the DEA has sought advice from the State Department or discussed with international partners the implications of rescheduling on diplomatic relations and collective drug control efforts. 
No doubt these issues, which are on everyone&#8217;s minds, will be fully discussed at the upcoming <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> on April 16-17 in Florida.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27163626/2231044_CCCFloridaGIF_V2_031124-27-7.gif" alt="" class="wp-image-268065" /></figure>
<h3 class="wp-block-heading">Another Missive From Opposite Side Of The Aisle</h3>
Meanwhile, Congress members Earl Blumenauer (D-OR) and Barbara Lee (D-CA) had some strong words for the Department of Justice (DOJ) for failing to keep its promise and update federal marijuana enforcement policies, which they call "unacceptable" as it leaves many Americans in a "legal limbo."
In their Wednesday letter addressed to Attorney General Merrick Garland, Lee and Blumenauer said it was essential for the DOJ to reissue memoranda, previously rescinded by Trump-era AG Jeff Sessions, to affirm that federal resources will not target individuals complying with state or Tribal cannabis laws.
The Congressional Cannabis Caucus co-chairs Lee and Blumenauer highlighted contradictions in the federal position, noting recent Biden-Harris administration moves, such as the president's October 2022 <a href="https://www.benzinga.com/markets/cannabis/22/10/29175510/breaking-biden-announces-pardons-for-all-federal-marijuana-possession-convictions">pardon of federal marijuana possession offenses</a> and <a href="https://www.benzinga.com/markets/cannabis/24/03/37552483/biden-calls-for-cannabis-reform-in-state-of-the-union-a-historic-first-no-one-should-be-jailed-f">reviewing marijuana's classification</a>. 
The delay in providing clear DOJ policy undermines these efforts, say the lawmakers, and sows confusion among law enforcement, businesses and citizens. 
In the <a href="https://www.marijuanamoment.net/congressional-lawmakers-push-attorney-general-to-issue-overdue-marijuana-guidance-saying-ongoing-legal-limbo-is-unacceptable/">letter</a> first published by Marijuana Moment, Blumenauer and Lee called it "unacceptable that more than half of Americans living in jurisdictions with legal marijuana markets are left in limbo without public guidance to prevent unjust prosecution of those complying with their state's or Tribe's regulations."
Join us at the<a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">&nbsp;Benzinga Cannabis Capital Conference</a>&nbsp;in Florida at the new Hollywood venue on April 16 and 17, 2024. The two-day event at<a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">&nbsp;The Diplomat Beach Resort</a>&nbsp;will be a chance for entrepreneurs, both large and small, to network, learn, and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.<a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">&nbsp;Get your tickets now on</a><a href="http://bzcannabis.com/" target="_blank" rel="noreferrer noopener">&nbsp;bzcannabis.com</a><a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">&nbsp;– Prices will increase very soon!</a>
Photo by&nbsp;<a href="https://unsplash.com/@joannakosinska?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Joanna Kosinska</a>&nbsp;on&nbsp;Unsplash

GOP Mitt Romney Pens Letter To DEA Bashing Cannabis Rescheduling, Dems' Letter To DOJ Bashes Broken Promises

During a House Ways &amp; Means Committee hearing on Wednesday, Rep Earl Blumenauer (D-OR) sought clarification from the Department of Health and Human Services (HHS) regarding its request to the Department of Justice (DOJ) on cannabis scheduling, a topic highlighted in a recent Wall Street Journal article, which revealed increasing tension between the White House and the Drug Enforcement Administration (DEA) <a href="https://www.benzinga.com/cannabis">over marijuana rescheduling. </a>
The WSJ <a href="https://www.wsj.com/politics/policy/biden-push-to-ease-marijuana-restrictions-sparks-tensions-051759f7">reported </a>that certain DEA officials are <a href="https://www.benzinga.com/markets/cannabis/24/03/37603576/dea-vs-white-house-agency-pushes-back-on-medical-benefits-of-cannabis-weed-stocks-wobble">resisting the change</a> on the basis that cannabis&#8217; medicinal benefits remain unproven.
Blumenauer&#8217;s inquiry comes as part of an effort to address what he describes as the &#8220;failed and discriminatory&#8221; federal stance on marijuana, which he said is categorized more on historical stigma than scientific evidence. He emphasized the need for change, branding the current administration&#8217;s inertia on the issue as &#8220;political malpractice.&#8221;
In a written question for the record (QFR), Blumenauer asked the HHS to detail the nature of its outreach to the DOJ&#8217;s Office of Legal Counsel (OLC), the concerns prompting this dialogue and HHS&#8217;s legal standing to advocate for reclassifying marijuana to Schedule III, should the DEA suggest a higher scheduling.
"Marijuana was scheduled based on stigma, not science. It is time to remedy this injustice," Blumenaur wrote in his QFR, which he shared with <a href="https://www.marijuanamoment.net/congressman-demands-answers-from-biden-admin-on-marijuana-rescheduling-legal-opinion-request-for-doj/">Marijuana Moment</a>.
The congressman <a href="https://www.benzinga.com/markets/cannabis/23/09/34926867/us-rep-blumenauer-highlights-growing-bipartisan-support-for-cannabis-legislation-at-benzinga-can">gave an exclusive address</a> at the September 2023 <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> in Chicago. Cannabis reform will be one of the hot topics at the upcoming Benzinga cannabis event in Florida on April 16-17, 2024.
The report first revealing the HHS&#8217;s opinion request underscored an apparent discord between the DEA and the White House concerning the proposed rescheduling of marijuana. However, the HHS abstained from commenting on the record to Marijuana Moment&#8217;s inquiry and the DOJ has also remained silent.
This QFR also illuminates the debate surrounding international policy and treaty obligations, with some arguing that downgrading cannabis&#8217;s classification could conflict with international agreements.
Meanwhile, advocates, including a group of senators and Rep. Sydney Kamlager-Dove (D-Calif.) <a href="https://www.benzinga.com/markets/cannabis/24/02/37353196/congresswoman-to-dea-reject-any-argument-that-marijuana-rescheduling-violates-us-treaty-obligati">urged the DEA</a> to refute any assertions that suggested rescheduling marijuana at the federal level would breach international treaty obligations, citing the example of Canada&#8217;s legalization efforts.
Blumenauer and his legislative ally, Rep. Andy Harris (R-MD), expressed dissatisfaction in a letter to HHS Secretary Xavier Becerra and DEA Administrator Anne Milgram about the sluggish advancement of a recently enacted cannabis research bill, a measure they jointly back. 
Listen to the full hearing with HHS Secretary Becerra <a href="https://waysandmeans.house.gov/event/hearing-with-health-and-human-services-secretary-becerra/">HERE</a>.
The <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">The Diplomat Beach Resort</a> will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world. <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Get your tickets now on </a><a href="http://bzcannabis.com" target="_blank" rel="noreferrer noopener">bzcannabis.com</a><a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener"> – Prices will increase very soon!</a>
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Rep. Blumenauer Grills Fed Health Agency For Clarity On Cannabis Rescheduling As Debate Heats Up

Vice President Harris&#39;s urgent call to the DEA to expedite the rescheduling of cannabis&nbsp;marks a crucial turning point in national drug policy, as analyzed in a comprehensive equity research report by Zuanic &amp; Associates.
The report delves into the implications of <a href="https://www.benzinga.com/markets/cannabis/24/03/37760731/vp-kamala-harris-urges-dea-to-reschedule-cannabis-as-quickly-as-possible-calls-prohibition-absur">Harris&#39;s push</a>&nbsp;as well as&nbsp;the Department of Health and Human Services&#39; (HHS) engagement with the Justice Department&rsquo;s Office of Legal Counsel on the complexities of altering cannabis&#39;s legal status.
In addition, senior analyst Pablo Zuanic addresses critical industry questions, covering FDA oversight, prescription criteria, insurance reimbursement, and the effects of legalization and rescheduling on imports and insurance coverage.
Interested in the future of cannabis companies and regulations? Join us at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference </a>in Florida, set for April 16 and 17, 2024, at the Hollywood venue. This two-day event at The Diplomat Beach Resort offers invaluable perspectives on cannabis rescheduling and growth strategies for entrepreneurs. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-spring-2024-tickets-708023295737?aff=cccmainnav">Act now to secure your tickets at bzcannabis.com &ndash; prices are set to increase soon!</a>
<h2>Legal Landscape And DEA Dynamics</h2>
Zuanic looks at&nbsp;the DEA&#39;s debate over cannabis&#39;s medicinal benefits and the call for further research on its effects. He contends that the HHS&#39;s thorough 252-page document meets the <a href="https://www.benzinga.com/markets/cannabis/24/03/37603576/dea-vs-white-house-agency-pushes-back-on-medical-benefits-of-cannabis-weed-stocks-wobble">DEA&rsquo;s criteria</a> for scientific evidence of medical efficacy, possibly facilitating rescheduling.
He also discusses the implications of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36916566/bidens-weed-federal-government-2024-elections-tax-time-stock">rescheduling cannabis</a> without federal legalization, highlighting its impracticality and the potential benefits of federal legality, including improved banking access, stock exchange listings, and insurance reimbursements.
<h3>Prognosis And Probabilities</h3>
Zuanic forecasts a 51% chance that the DEA will announce cannabis rescheduling, yet details might wait until a potential second Biden term. He also raises the possibility of DEA resistance or inaction by June, amidst election-year dynamics.
The 2023 hint of reclassification spurred a market surge, notably boosting the MSOS ETF by 21% and elevating stocks like StateHouse (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sthzf#OTC">STHZF</a>), Columbia Care (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cchwf#OTC">CCHWF</a>), <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37722460/jushi-beats-all-expectations-cannabis-company-surpasses-analysts-4q23-sales-and-pro">Jushi</a> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/jushf#OTC">JUSHF</a>), and AYR Wellness (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ayrwf#OTC">AYRWF</a>), with financially weaker companies reaping disproportionate gains.
Zuanic favors moving medical cannabis to Schedule III, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36633364/marijuana-rescheduling-stock-market-reactions-analyst-insights-on-who-wins-possible">descheduling recreational use</a>&nbsp;and allowing&nbsp;states to manage cannabis, which could unlock tax relief, banking access, and stock exchange listings for U.S. firms.
However, he voices concerns about the White House&#39;s detailed planning for such changes, suggesting that stakeholder lobbying and the complex regulatory landscape could temper sector growth, despite recent optimism.
&ldquo;Under this best-case scenario logic, the benefits would go beyond tax relief (significant on their own if<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/34153665/cannabis-tax-changes-could-trigger-504-cash-flow-leap-which-industry-players-will-b"> 280E no longer applies</a>), as, theoretically, given this de facto legalization, banks with a federal charter could service the industry, and even US stock exchanges could uplist US plant-touching companies,&rdquo; Zuanic wrote in a report from 2023.
Dive into cannabis regulations with experts like Zuanic at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a>, April 16-17, 2024, in Florida. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-spring-2024-tickets-708023295737?aff=cccmainnav">Secure your tickets at bzcannabis.com before prices rise!</a>
<h3>4 Key Questions Addressed by Zuanic</h3>
<ul>
<li>Will FDA Oversight on Marijuana Change? The growing need for regulatory guidance on medical marijuana may lead the FDA to update its policies to manage the drug&#39;s complexities. Given marijuana&#39;s potential rescheduling, it&#39;s expected to remain under the FDA&#39;s rigorous safety and standards oversight.</li>
<li>Will Prescription Specificity and Insurance Reimbursement Change with Rescheduling? If cannabis moves to Schedule III, the FDA may have to specify which medical conditions qualify for its prescription.</li>
<li>Will Imports be Allowed with Legalization? Should <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33482140/rescheduling-cannabis-what-are-the-implications-for-msos-tax-rule-280e-fda-and-phar">federal legalization</a> occur, it could facilitate the importation of medical cannabis, aligning it with the regulatory framework of other prescription drugs. This raises the question of how <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/07/33480266/msos-and-cannabis-rescheduling-a-safer-bet-analyst-looks-closer-at-pros-and-cons">federal legalization</a> might affect the current market for unregulated imports.</li>
<li>Would Rescheduling Open the Door to Insurance Reimbursement? Yes, however, it necessitates federal legalization first, followed by the approval from both private and government-owned insurance entities for reimbursement&mdash;a process expected to progress slowly but is not discounted over time.</li>
</ul>
Interested in the future of multi-state cannabis operations and insights on regulations? Join us at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> in Florida, set for April 16 and 17, 2024, at the Hollywood venue. This two-day event at The Diplomat Beach Resort features industry leaders like Senator Cory Gardner, David Goubert (CEO &amp; President of AYR Wellness), and Aaron Miles (Chief Investment Officer at <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37681427/marijuana-company-verano-holdings-worth-2-1b-outprices-its-expected-2024-earnings">Verano Holdings</a>), offering invaluable perspectives on cannabis rescheduling and growth strategies for entrepreneurs. It&rsquo;s a pivotal gathering for those looking to navigate the cannabis sector&#39;s evolving landscape. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-spring-2024-tickets-708023295737?aff=cccmainnav">Act now to secure your tickets at bzcannabis.com &ndash; prices are set to increase soon!</a>
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VP Harris, DEA, FDA Eye Cannabis: Key Changes Ahead, Here's What One Expert Predicts

In a significant move to address long-standing issues within the U.S. cannabis policy, Vice President Kamala Harris&nbsp;called for the Drug Enforcement Administration (DEA) to expedite the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/07/33480266/msos-and-cannabis-rescheduling-a-safer-bet-analyst-looks-closer-at-pros-and-cons">rescheduling of marijuana </a>under the Controlled Substances Act (CSA).
&quot;I&#39;m sure DEA is working as quickly as possible and will continue to do so, and we look forward to the product of their work,&quot; Harris said at a White House meeting with pardon recipients on Friday.
During the&nbsp;meeting with individuals pardoned for marijuana offenses, Harris <a href="https://www.politico.com/news/2024/03/15/vice-president-to-hold-cannabis-roundtable-00146564">labeled</a> the current classification of cannabis&mdash;equivalent to heroin and considered more dangerous than fentanyl&mdash;as &quot;absurd&quot; and &quot;patently unfair.&quot;
As the DEA <a href="https://www.benzinga.com/markets/cannabis/24/01/36620822/feds-finally-release-documents-confirming-recommendation-to-reschedule-cannabis-based-on-accepte">considers</a> the Department of Health and Human Services&#39; <a href="https://www.benzinga.com/markets/cannabis/24/03/37721951/gop-sen-john-cornyn-takes-health-secretary-to-task-over-cannabis-rescheduling-xavier-becerra-hol">recommendation </a>to reclassify marijuana, the nation awaits a decision that could significantly alter the landscape of cannabis regulation and enforcement.
The administration&#39;s focus on cannabis reform, especially in the lead-up to the November elections, highlights the importance of this issue in the broader context of criminal justice reform and public policy.
Want to talk more about companies like this and what to expect from their&nbsp;valuations, earnings, and&nbsp;of course, investment opportunities? Join us at the upcoming&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noopener noreferrer" target="_blank">Benzinga Cannabis Capital Conference</a>&nbsp;in Florida at the new Hollywood venue on April 16 and 17, 2024.
<h3>White House Meeting Highlights</h3>
The meeting, which also included&nbsp;the participation of Kentucky Governor Andy Beshear and rapper <a href="https://www.washingtonexaminer.com/news/white-house/2923031/kamala-harris-hosts-marijuana-panel-reclassify-drug/">Fat Joe</a>, aimed to delve into the experiences of those granted clemency and to spotlight injustices in federal marijuana policies.
The administration has been vocal about its stance on marijuana, advocating for the recognition of racial disparities in cannabis enforcement and emphasizing that no one should be jailed for simple possession.
<h3>Cannabis Reform And Public Sentiment</h3>
Public sentiment heavily favors the legalization of marijuana, with polling indicating that <a href="https://www.benzinga.com/markets/cannabis/23/11/35674739/marijuana-legalization-support-hits-record-70-as-republicans-join-the-majority-shows-gallup-poll">70% of Americans</a> support such measures, a figure that rises to 80% among those under 35.
Despite these numbers, the administration faces challenges in fully realizing its cannabis reform promises.
The process involves not only the rescheduling of marijuana but also addressing the complexities of expunging records and legal protections for those affected by previous policies.
<h3>A Shift In Cannabis Policy Perspective</h3>
VP Harris has undergone a notable evolution in her stance on<a href="https://www.benzinga.com/general/biotech/24/03/37633391/usda-invests-10m-in-hemp-research-tribal-lands-and-bidens-hemp-biotech-initiative"> cannabis policy</a>. From a prosecutor enforcing marijuana criminalization to a U.S. Senator sponsoring a bill for its federal legalization, her journey mirrors the <a href="https://www.benzinga.com/markets/cannabis/24/03/37673856/vp-harris-will-meet-rapper-fat-joe-and-others-pardoned-by-biden-for-cannabis-convictions-to-disc">shifting attitudes</a> toward cannabis in the United States.
<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" frameborder="0" height="444" src="https://www.youtube.com/embed/oLOVgPWWNfk" width="789"></iframe>
Rescheduling Cannabis: What Are The Implications For MSOs, Tax Rule 280E, FDA And Big Pharma?
The anticipation of cannabis rescheduling and the potential repeal of Tax Rule 280E stirs a complex debate, as <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36916566/bidens-weed-federal-government-2024-elections-tax-time-stock">outlined</a> by <a href="https://www.benzinga.com/topic/pablo-zuanic">Zuanic and Associates</a>. While <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/34153665/cannabis-tax-changes-could-trigger-504-cash-flow-leap-whic">removing Tax Rule 280E</a> could significantly lighten the tax load for U.S. cannabis businesses, it introduces potential regulatory and market dynamics challenges. Tax Rule 280E forces cannabis companies to pay taxes on gross profits, leading to exorbitantly high effective tax rates.
The proposed shift to reschedule cannabis, making medical marijuana federally legal, appears to offer a financial reprieve but opens up a &quot;Pandora&#39;s Box&quot; of stricter FDA oversight and pharmaceutical industry competition. According to senior analyst Pablo Zuanic, this <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36633364/marijuana-rescheduling-stock-market-reactions-analyst-insights-on-who-wins-possible">transition</a> could fundamentally alter prescription practices, limit accessibility, and potentially shift the sale of medical marijuana to pharmacies.
For multi-state operators (<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35840800/the-billion-dollar-question-how-much-are-cannabis-multi-state-operators-really-wort">MSOs</a>), the benefits of alleviating the 280E tax burden through rescheduling are tempered by the possibility of increased regulation and market entry barriers.
Zuanic&#39;s report also <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33482140/rescheduling-cannabis-what-are-the-implications-for-msos-tax-rule-280e-fda-and-phar">highlights</a> the nuanced distinction between <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33974973/is-legal-recreational-cannabis-wrecking-medical-marijuana-sales-analyst-crunches-th">medical and recreational cannabis</a>, with the latter facing its own set of legal and regulatory challenges in the event of rescheduling or de-scheduling.&nbsp;
Want to know more about companies&#39; valuations, earnings, and investment opportunities? Join us at the upcoming&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noopener noreferrer" target="_blank">Benzinga Cannabis Capital Conference</a>&nbsp;in Florida at the new Hollywood venue on April 16 and 17, 2024. The two-day event at&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noopener noreferrer" target="_blank">The Diplomat Beach Resort</a>&nbsp;will be a chance for entrepreneurs, both large and small, to network, learn, and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars &ndash; this conference is the go-to event of the year for the cannabis world.&nbsp;
<a href="https://www.benzinga.com/events/cannabis-conference/" rel="noopener noreferrer" target="_blank">Get your tickets now on&nbsp;</a><a href="http://bzcannabis.com/" rel="noopener noreferrer" target="_blank">bzcannabis.com</a><a href="https://www.benzinga.com/events/cannabis-conference/" rel="noopener noreferrer" target="_blank">&nbsp;&ndash; Prices will increase very soon!</a>
Photo: Via WikiCommons CC By&nbsp;<a href="https://www.flickr.com/people/22007612@N05" rel="nofollow">Gage Skidmore</a>&nbsp;from Peoria, AZ, United States of America.&nbsp;

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VP Kamala Harris Urges DEA To Reschedule Cannabis 'As Quickly As Possible,' Calls Prohibition 'Absurd' & 'Unfair'

News of possible <a href="https://www.benzinga.com/markets/cannabis/24/03/37747691/cannabis-stocks-hit-the-roof-as-hedge-funder-says-federal-descheduling-imminent">cannabis rescheduling</a> from its onerous position as a Schedule 1 drug on the federal government's Controlled Substance Act has sent sparks into the cannabis community at large as some of the industry's most important weed stocks enjoy a much-needed boost.
What Happened: Doug Kass, world-renowned hedge fund manager, posted on X, formerly Twitter, Friday that the &#8220;DEA will approve a rescheduling of cannabis to Schedule III.&#8221;&nbsp;
"We have learned yesterday that the U.S. Drug Enforcement Administration will shortly approve a rescheduling of cannabis to Schedule III," Kass said in part of his first tweet on the subject Friday. He advised selling a gap higher in cannabis stocks as a result of the rumored development.
It is clearly time to get together and talk about all this exciting news, so DO NOT miss the upcoming <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> in Florida where we will be talking about all things weed including cannabis companies&#8217; valuations, earnings and investment opportunities. Join us at the new Hollywood venue on April 16 and 17, 2024.
Cannabis stocks loved the sound of this news and took a significant upward ride on Friday. Here is here is where they stand at midday:
<ul>
<li>Curaleaf Holdings (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTCQX">CURLF</a>) was up 13.67% selling at $4.63</li>
<li>Canopy Growth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) was up 4.69% at $2.90</li>
<li>Aurora Cannabis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) up 4.45% at $3.0187</li>
<li>Urban-gro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UGRO#NASDAQ">UGRO</a>) up 5.50% to $2.11</li>
<li>Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) is up 2.08% at $1.63 per share</li>
<li>Green Thumb Industries (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTCQX">GTBIF</a>) up 6.74% to $12.35 per share</li>
<li>Village Farms Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>) is up 8.04% to $0.7454 per share</li>
</ul>
So, What Happens If It Happens?&nbsp;At the moment, cannabis remains on Schedule I of the Controlled Substances Act&nbsp;alongside heroin and LSD, signifying no accepted medical value and high potential for abuse. Rescheduling would bump it down to Schedule III, placing it among anabolic steroids and Tylenol with codeine.&nbsp;
What Else?&nbsp;This shift could also translate to lower taxes for cannabis companies that are now burdened by IRS tax code 280E&nbsp;which forbids them&nbsp;from deducting ordinary business expenses.&nbsp;In 2022, cannabis businesses&nbsp;<a href="https://www.benzinga.com/markets/cannabis/23/05/32277400/cannabis-industry-paid-1-8b-in-excess-taxes-in-2022-refund-checks-anyone" target="_blank" rel="noreferrer noopener">paid $1.8&nbsp;billion</a>&nbsp;in additional federal taxes,&nbsp;according to&nbsp;market research firm Whitney Economics. For retailers, their tax rates can&nbsp;exceed 70%, the report stated. A change in this area could&nbsp;lead to more competitive prices for consumers.
Meanwhile,&nbsp;AdvisorShares Pure US Cannabis ETF <a href="https://www.benzinga.com/quote/msos" target="_blank" rel="noreferrer noopener">MSOS</a>&nbsp;is still chugging up over 8% at $8.38 at the time of this update, mid-morning Friday and issued a stock alert, which investors will want to keep an eye on:
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24AYRWF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AYRWF</a> <a href="https://twitter.com/AYRWellness?ref_src=twsrc%5Etfw">@AYRWellness</a> <a href="https://twitter.com/search?q=%24CURLF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CURLF</a> <a href="https://twitter.com/Curaleaf_Inc?ref_src=twsrc%5Etfw">@Curaleaf_Inc</a> <a href="https://twitter.com/search?q=%24GTBIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GTBIF</a> <a href="https://twitter.com/GTIGrows?ref_src=twsrc%5Etfw">@GTIGrows</a> <a href="https://twitter.com/search?q=%24TCNNF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TCNNF</a> <a href="https://twitter.com/Trulieve?ref_src=twsrc%5Etfw">@Trulieve</a> <a href="https://twitter.com/search?q=%24GLASF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GLASF</a> <a href="https://twitter.com/GlassHouseBR?ref_src=twsrc%5Etfw">@GlassHouseBR</a> is one of the LONG positions in the <a href="https://twitter.com/search?q=%24MSOS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSOS</a> AdvisorShares Pure US Cannabis <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw">#ETF</a> <a href="https://twitter.com/hashtag/growers?src=hash&amp;ref_src=twsrc%5Etfw">#growers</a> <a href="https://twitter.com/hashtag/cultivators?src=hash&amp;ref_src=twsrc%5Etfw">#cultivators</a> <a href="https://twitter.com/hashtag/dispensary?src=hash&amp;ref_src=twsrc%5Etfw">#dispensary</a> <a href="https://twitter.com/hashtag/msogang?src=hash&amp;ref_src=twsrc%5Etfw">#msogang</a> <a href="https://twitter.com/hashtag/stocksonthemove?src=hash&amp;ref_src=twsrc%5Etfw">#stocksonthemove</a> <a href="https://twitter.com/hashtag/investing?src=hash&amp;ref_src=twsrc%5Etfw">#investing</a> <a href="https://twitter.com/hashtag/cannabiscommunity?src=hash&amp;ref_src=twsrc%5Etfw">#cannabiscommunity</a> <a href="https://twitter.com/hashtag/stocks?src=hash&amp;ref_src=twsrc%5Etfw">#stocks</a>… <a href="https://t.co/7lK66diZzd">pic.twitter.com/7lK66diZzd</a>
&mdash; AdvisorShares (@AdvisorShares) <a href="https://twitter.com/AdvisorShares/status/1768656143101141045?ref_src=twsrc%5Etfw">March 15, 2024</a></blockquote>
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This is an ongoing story so stay tuned!
The <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> is being held at&nbsp;The Diplomat Beach Resort&nbsp;and will be a chance for entrepreneurs, both large and small, to network, learn, and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Get your tickets now on&nbsp;</a><a href="http://bzcannabis.com/" target="_blank" rel="noreferrer noopener">bzcannabis.com</a><a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">&nbsp;– Prices will increase very soon!</a>

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Cannabis Stocks Jump On News That DEA May Soon Undertake Marijuana Reform

In the hallowed chambers of the Senate Finance Committee on Thursday, a testy exchange took place between Sen. John Cornyn (R-Texas) and Health and Human Services (HHS) Secretary Xavier Becerra. The bone of contention was the proposed rescheduling of marijuana under federal law.
Cornyn grilled Becerra on the HSS's August 2023 <a href="https://www.benzinga.com/markets/cannabis/23/08/34120876/health-officials-to-dea-ease-federal-restrictions-on-cannabis-will-this-set-stage-for-legalizati">recommendation to the Drug Enforcement Administration</a> (DEA) to reclassify marijuana from a Schedule I to a Schedule III substance, <a href="https://www.marijuanamoment.net/top-biden-health-official-defends-marijuana-rescheduling-recommendation-against-criticism-from-gop-senator/">reported</a> Marijuana Moment.
Cornyn seemed to take issue with the thoroughness of the scientific scrutiny and research into cannabis, which was directed by President Joe Biden and undertaken by the Food and Drug Administration (FDA). Cornyn hinted at a departure from previous approaches to scheduling drugs.
In response, Becerra pointed to a <a href="https://www.benzinga.com/markets/cannabis/24/01/36620822/feds-finally-release-documents-confirming-recommendation-to-reschedule-cannabis-based-on-accepte">comprehensive 252-page analysis</a> asserting that cannabis "has a currently accepted medical use in treatment in the United States," and the "potential for abuse less than the drugs or other substances in Schedules I and II.&#8221; 
The HHS secretary even pointed to Cornyn&#8217;s state of Texas and its tentative steps toward accepting medical marijuana. "What we're doing is simply reflecting what the science is showing," Becerra said. 
Surely you will want to hear more on this topic and how it will affect the cannabis industry in many ways. If that&#8217;s the case, then you must join us at the upcoming <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> in Florida.
Cornyn, who echoed the arguments widely disseminated by the prohibitionist group Smart Approaches to Marijuana, took issue with the HHS&#8217;s lenient stance. He questioned whether the review examined the health impacts of marijuana use on adolescent brains and pregnant women.
Despite this, Becerra stood firm, seemingly confident in the FDA&#8217;s recommendations. "As you know, throughout the country, many states have moved much farther than the federal government has."
Becerra said he didn't want to speak for the FDA in that the agency's scientists had conducted the review "independently" of the HHS's leadership, but he insisted "the rigorous work that was done to come to these conclusions was based on the science and the evidence they had before them."
As the discussion moved toward the DEA&#8217;s impending decision, Becerra deflected questions about timing, humorously suggesting that inquisitive parties should go and &#8220;knock on DEA&#8217;s door.&#8221;
Join us for more policy discussions at the upcoming <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> in Florida at the new Hollywood venue on April 16 and 17, 2024. The two-day event at <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">The Diplomat Beach Resort</a> will be a chance for entrepreneurs, both large and small, to network, learn, and grow. 
Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world. <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Get your tickets now on </a><a href="http://bzcannabis.com/" target="_blank" rel="noreferrer noopener">bzcannabis.com</a><a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener"> – Prices will increase very soon!</a>
Photo: Xavier Becerra via Shutterstock

GOP Sen. John Cornyn Takes Health Secretary To Task Over Cannabis Rescheduling: Xavier Becerra Holds His Own

Tension between the White House and the Drug Enforcement Administration (DEA) over marijuana rescheduling seems to be increasing, according to a Wall Street Journal <a href="https://www.wsj.com/politics/policy/biden-push-to-ease-marijuana-restrictions-sparks-tensions-051759f7">report</a> noting that some DEA officials are resisting this change on the basis that cannabis' "medicinal benefits remain unproven and that it has a high potential for abuse, people familiar with the matter said." 
This is in contradiction to the Department of Health and Human Services (HHS) <a href="https://www.benzinga.com/markets/cannabis/24/01/36620822/feds-finally-release-documents-confirming-recommendation-to-reschedule-cannabis-based-on-accepte">January release</a> of 252 pages of documents stating that cannabis "has a currently accepted medical use in treatment in the United States" and a "potential for abuse less than the drugs or other substances in Schedules I and II.&#8221; &nbsp;
In addition to reportedly doubting the scientific evidence presented by HHS, the DEA also expressed concern about the increasing potency of THC, the psychoactive compound in cannabis. Marijuana advocates and stakeholders question the motivations behind these anonymous claims, as the DEA itself has not publicly opposed the recommendation. The agency is conducting its own review, with Administrator Anne Milgram promising to consider all available research.
Despite the DEA&#8217;s final say on rescheduling cannabis, the <a href="https://www.benzinga.com/markets/cannabis/23/09/34591749/congressional-research-service-foresees-potential-dea-endorsement-of-marijuana-rescheduling">Congressional Research Service said</a> the agency would likely follow the HHS&#8217;s lead based on past practices, although the DEA has said on various occasions that it alone will decide on rescheduling cannabis.
Rescheduling will not legalize marijuana federally, but it would unlock significant benefits for the cannabis industry. Businesses could finally claim federal tax deductions currently prohibited under IRS code 280E. Additionally, it could open the doors to more scientific research on marijuana&#8217;s therapeutic potential.
The Wall Street Journal report also highlighted a legal wrinkle in the rescheduling process. The HHS has reportedly sought legal advice from the Department of Justice&#8217;s Office of Legal Counsel (OLC) regarding potential international complications. Opponents of reform argue reclassifying marijuana could violate international treaties. 
Meanwhile, cannabis stocks took a dip after the bleak Wall Street Journal report.
AdvisorShares Pure US Cannabis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>), dropped intra-day then settled at $7.84 after hours.
Shares of Curaleaf Holdings Inc (OTCQX:&nbsp;<a href="https://www.benzinga.com/stock/curlf#OTCQX">CURLF</a>), the biggest U.S. cannabis company by revenue, wobbled then settled at $4.24 after hours.
Green Thumb Industries Inc (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTCQX">GTBIF</a>), Verano Holdings Corp (OTCQX: <a href="https://www.benzinga.com/stock/vrnof#OTCQX">VRNOF</a>) and Trulieve Cannabis Corp (OTCQX: <a href="https://www.benzinga.com/stock/tcnnf#OTCQX">TCNNF</a>) pulled back 4% to 6% then finally leveled off.
In a research note from Morningstar on Monday morning, Alliance Global Partners analyst Aaron Grey said there was still a high probability the DEA would adopt the rescheduling recommendation despite the concerns cited in the Wall Street Journal report, given the extensive number of studies in the HHS&#8217;s recommendation that justify moving cannabis to a less-restrictive category.
Photo: Benzinga edit with&nbsp;Billion Photos and Yarygin by Shutterstock

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DEA Vs. White House: Agency Pushes Back On Medical Benefits Of Cannabis, Weed Stocks Wobble

Truist Securities analyst Michael Lewis maintains Easterly Government Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEA#NYSE">DEA</a>) with a Hold and lowers the price target from $14 to $13.

Price Target

Truist Securities Maintains Hold on Easterly Government Props, Lowers Price Target to $13

Real estate investment trusts (REITs) own, operate, or finance income-generating real estate. REITs allow individuals to invest in various types of real estate without having to directly own or manage the properties. REITs typically focus on a specific type of real estate, such as residential, commercial, or industrial, and they are required to distribute a large percentage of their taxable income to shareholders in the form of dividends, making them attractive for income-seeking investors.
Let's take a look at two REITs with yields over 7% that you could buy today.
<h2 class="wp-block-heading">Easterly Government Properties&nbsp;</h2>
Easterly Government Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEA#NYSE">DEA</a>) owns and manages a portfolio of properties leased to government agencies and contractors. As of its most recent investor presentation, its portfolio consists of <a href="https://ir.easterlyreit.com/static-files/99b54ae9-ae89-48ba-9880-ec8792c2dc01">90 properties</a> in 26 U.S. states containing approximately 8.9 million leased square feet. Its properties are leased to 40 different government agencies, including the FBI, DEA, Department of Defense, National Parks Service, and Social Security Administration.
Easterly currently pays a quarterly dividend of $0.265 per share, equating to an annualized dividend of $1.06 per share and giving its stock a yield of about 8.9% at the time of this writing. The company has also raised its annual dividend five times since 2015, making it a reliable source of dividend growth to go with its high yield.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100"> Dara Khosrowshahi-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
</ul>
<h2 class="wp-block-heading">Innovative Industrial Properties</h2>
Innovative Industrial Properties Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IIPR#NYSE">IIPR</a>) acquires, owns, and manages specialized properties leased to cannabis companies. As of December 31, 2023, its <a href="https://investors.innovativeindustrialproperties.com/~/media/Files/I/IIP-IR-V2/reports-and-presentations/iipr-investor-presentation-3-4-2024.pdf">portfolio</a> consists of 108 properties containing 8.9 million rentable square feet diversified across 19 U.S. states and 30 tenants.
Innovative Industrial Properties currently pays a quarterly dividend of $1.82 per share, equating to an annualized dividend of $7.28 per share and giving its stock a yield of about 7.5% at the time of this writing. The company has also raised its annual dividend payment every year since its 2016 initial public offering, putting it on track for 2024 to mark the 8th consecutive year with an increase.
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
<li>Collecting passive income from real estate just got a whole lot simpler. A new <a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100">real estate fund backed by Dara Khosrowshahi</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
</ul>
Image Credit: Shutterstock

Easterly Government stock rises on strong guidance after weak Q4 results

Easterly Government Properties, Inc. (DEA) Q4 2023 Earnings Call Transcript

Truist Financial analyst Michael Lewis maintained a Hold rating on Easterly Government Properties (DEA – Research Report) today and set a price tar...

Truist Financial Sticks to Its Hold Rating for Easterly Government Properties (DEA)

Easterly Government Properties files automatic mixed securities shelf

These Real Estate stocks are trading higher:-Altisource Portfolio Solutions S.A. (ASPS) stock is trading at $2.63, a rise of $0.14, or 5.85%, on average volume.  Altisource Portfolio gets a Sentiment Score of Bearish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of

Real Estate Stocks Making Moves Tuesday: ASPS, FTHM, UK, LSEA, OPEN, BXMT, DEA, DEI

InvestorsObserver is giving Easterly Government Properties Inc (DEA) an Analyst Rating Rank of 3, meaning DEA is ranked higher by analysts than 3% of stocks. The average price target for DEA is $14.25 and analystâ€&#x2122;s rate the stock as a Hold. Wall Street analysts are rating DEA a Hold today.  Find out what this means to you

Where Does Wall Street Think Easterly Government Properties Inc (DEA) Stock Will Go?

3 REITs Likely To Cut Their Dividend In 2024

Easterly Government: Dividend May Be Too Aggressive

Bumpy Landing Ahead

COPT Defense Properties: Slow And Steady Growth

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Press Releases

Easterly Government Properties Announces Tax Characteristics of Its 2023 Distributions

Easterly Government Properties Extends $100 Million Unsecured Term Loan Facility

Easterly Government Properties Schedules Fourth Quarter 2023 Earnings Release and Conference Call

Easterly Government Properties Announces Quarterly Dividend

Easterly Government Properties Reports Fourth Quarter and Full Year 2023 Results

Easterly Government Properties to Participate in the Citi 2024 Global Property CEO Conference

Easterly Government Properties Awarded Lease to Develop 50,777 RSF Federal Courthouse in Flagstaff, Arizona

Easterly Government Properties Schedules First Quarter 2024 Earnings Release and Conference Call

Easterly Government Properties Acquires 135,200 SF U.S. Immigration and Customs Enforcement Information Technology Facility Near Dallas, Texas

Easterly Government Properties Releases Annual Environmental, Social, and Governance (ESG) Report and Announces 4% Decrease in Total Portfolio Energy Consumption