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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 Sep 05, 2020 3:11am
146 Views
Post# 31515041

IIPR fell to 108 from 123

IIPR fell to 108 from 123 in sympathy with the overall mkt & growth stocks big mid day decline but like many other growth stocks, IIPR rallied to pare its losses to close @ 117. Ystrdy IIPR held up much better than other growth stocks but today it joined them downward; my hunch is that margin calls caused some to sell their winners like IIPR. In the LT & IT, iipr is just fine. I expect a dividend hike in the next 2 weeks. And another new property deal in Sept, so this comlany is firing on all cylinders: 10 year leases, 13% cap rate, 99.3% rental occupancy & 3.5% dividend and forward P/E of 20-25.
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