Innovative Industrial Properties: 7% Dividend Yield As U.S. Cannabis Looks For Euphoria


  • Innovative Industrial Properties raised its dividend in December and currently offers a 7% dividend yield.
  • The dividend is 121% covered by fiscal 2024 first quarter adjusted FFO that dipped by 16 cents sequentially.
  • IIPR faces no maturing debt until 2026 and has a weighted average remaining lease term of approximately 14.8 years.

Green house full with dry cannabis plants hanging and drying

South_agency/E+ via Getty Images

Innovative Industrial Properties, Inc.’s (NYSE:IIPR) stock price has been on a tear. The cannabis REIT also last declared a quarterly cash dividend of $1.82 per share, kept unchanged sequentially and $7.28 per share when annualized

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in IIPR over the next 72 hours. 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.

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