Innovative Industrial Properties (NYSE:IIPR)

  • Symbol:NYSE:IIPR
  • Sector:Real Estate
  • Industry:REIT
  • CEO:Paul Smithers
  • Founded:2016
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Innovative Industrial Properties (NYSE:IIPR) Stock Price

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Innovative Industrial Properties (NYSE:IIPR) Company Overview

Innovative Industrial Properties is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialised industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities.

Innovative Industrial Properties is taxed as a real estate investment trust, and targets medical-use cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers. Leases with growers are typically structured as long-term triple-net leases, where the tenant is responsible for all aspects and costs of the property and its operation during the lease.

Innovative Industrial Properties was the first marijuana REIT listed on the NYSE — and one of the only cannabis-based companies that has been allowed such a prestigious listing. REITs, by law, have to pay at least 90% of their pre-tax income as dividends to their shareholders. That can lead to some really great returns for long-term investors.

In fact, today, the only real way to invest in the marijuana industry and receive a decent dividend pay-out is to invest in a REIT. Right now there is really only one serious option in the space.

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