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Innovative Industrial Properties Inc IIPR

Alternate Symbol(s):  IIPR.P.A

Innovative Industrial Properties, Inc. is an internally managed real estate investment trust (REIT). The Company is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated cannabis facilities. The Company is engaged in the business of providing real estate for the regulated cannabis industry. It acquires its properties through sale-leaseback transactions and third-party purchases. The Company owns approximately d 108 properties comprising an aggregate of approximately 8.9 million rentable square feet (including approximately 1.4 million rentable square feet under development/redevelopment) in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington. Its subsidiaries include IIP-AZ 1 LLC, IIP-AZ 2 LLC, IIP-AZ 3 LLC, IIP-CA 2 LP, and IIP-CA 1 LP.


NYSE:IIPR - Post by User

Post by drbob512on May 31, 2020 3:41pm
297 Views
Post# 31093996

According to Zacks Inv. Research

According to Zacks Inv. ResearchIIPR has 77% of its shares owned by hedge funds & other imstitutions. Zack's just downgraded IIPR to Hold from Buy rating. Swingtradebot lowered rating to D for IIPR. From my experience, IIPR can perform well after downgrades though usually it takes a little while cuz downgrades gives excuse to profit-takers & short sellers to sell thus price dips in ST. Wouldnt surprise me to see iipr as low as 75-80 over next few days & also wouldnt surprise me to see iipr testing recent high near 87, in June & to break out above it in next 2-6 wks as dividend is declared in 2 wks (would be positive if not reduced) and the DionyMed location has a replacement tenant announced in a few weeks. To replace a tenant that defaults would be a major answer to the question whether iipr's business model is flawed due to not able to replace them cuz rents might be very overpriced. We shall see...
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