Innovative Industrial Properties Is One Of The Best Performing Cannabis Stocks In The History Of The Cannabis Sector

During the last two years, Innovative Industrial Properties, Inc. (NYSE: IIPR) has been one of the best performing cannabis stocks. 

In late 2016, the NYSE traded cannabis real estate investment trust (REIT) went public and we have been closely following the story since then. 

If you would have invested $10,000 in Innovative Industrial Properties when it went public, your investment would be worth more than $153,000 as of today. The REIT offers an attractive yield and has been steadily growing the dividend. Last week, the company raised the dividend to $6 per year and we find this to be significant. 

For a stock that was worth less than $18 after it completed its initial public offering (IPO), a $6 dividend is quite impressive. We believe that Innovative Industrial Properties perfectly timed its entrance into the cannabis sector. The company is the only pure-play cannabis REIT on the NYSE and the lack of competition has played a key role in the success of the business. 

As of December 14th , Innovative Industrial Properties owned 103 properties that are located in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia and Washington. The properties have a total of approximately 7.7 million rentable square feet (including approximately 2.6 million rentable square feet under development/redevelopment) and we are favorable on how quickly the portfolio has grown.

By working with leading multi-state operators (MSOs) in the US, Innovative Industrial Properties is well positioned to record strong growth over the coming years and is an opportunity that we are closely following. 

During the last month, Innovative Industrial Properties has come well off its all-time high and we are monitoring price movements following the decline. We expect 2022 to be a strong period of growth for the NYSE traded cannabis REIT and is an opportunity that our readers should be aware of. 

If you are interested in learning more about Innovative Industrial Properties, please send an email to support@technical420.com with the subject “Innovative Industrial Properties” to be added to our distribution list. 

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Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

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