#5 - Innovative Industrial Properties (NYSE:IIPR)
Innovative Industrial Properties (NYSE:IIPR) is the leading real estate investment trust (REIT) for cannabis companies. As the market opens up for medical and recreational marijuana, companies need room to grow the product. Innovative Industrial Properties provides climate-controlled greenhouses that allow cannabis to grow under optimal conditions.
Here’s how it works. Innovative Industrial Properties buys properties from medical cannabis companies. They then lease the property back to the operators. This gives IIP a steady revenue stream.
If you want more good news, the company already has an infrastructure in place for medical marijuana demand. That means they’re already ahead of the game as the recreational market begins to grow. As a bonus, that infrastructure is in place throughout 16 states, which gives it an advantage over some of its smaller competitors. The company was only in 14 states in 2019, so investors get a sense of this stock's growth potential.
And unlike the cannabis companies, Innovative Industrial Properties is already profitable.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.
- Current Price
- $73.35
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 5 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $104.50 (42.5% Upside)
