Innovative Industrial Properties: 7.2% Dividend With Visible Near-Term Catalyst


  • Innovative Industrial Properties remains one of the most undervalued REITs.
  • Innovative Industrial Properties has outperformed cannabis operators due to its landlord status and strong cash flow generation.
  • The possibility of cannabis rescheduling on the Federal level could improve tenant credit quality and lead to a higher stock valuation.
  • The Innovative Industrial Properties 7.2% dividend yield is too high given the minimal leverage compared to peers – reiterate buy.

People working on their Marijuana plantation on a rooftop in New York. Couple taking care of their roof garden

LeoPatrizi/E+ via Getty Images

Innovative Industrial Properties, Inc. (NYSE:IIPR) remains one of the most undervalued names in the real estate investment trust, or REIT, sector. The cannabis REIT has faced some tenant difficulties amidst a cannabis bear market, but the current stock

Analyst’s Disclosure: I/we have a beneficial long position in the shares of IIPR, NLCP, TCNNF, GTBIF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am long all positions in the Best of Breed Growth Stocks Portfolio.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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