Innovative Industrial Properties, Inc. (IIPR) Company Bio
Innovative Industrial Properties, Inc. owns and leases specialized industrial real estate assets. The Company focuses on the acquisition, disposition, construction, development, and management of industrial facilities leased to tenants in the regulated medical-use cannabis industry. Innovative Industrial Properties conducts its business in the United States.
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a third quarter 2020 dividend of $1.17 per share of common stock, representing an approximately 10% increase over IIP’s second quarter 2020 dividend of $1.06 per share of common stock, and a 50% increase over IIP’s third quarter 2019 dividend of $0.78 per share of common stock. The dividend is equivalent to an annualized dividend of $4.68 per common share, and is the eighth dividend increase since IIP completed its initial public offering in December 2016.
While most investors welcome a rising market, the fact is many stocks are becoming overvalued. For investors who have $1,000 in cash they would like to put to work through stock purchases, BJ's Wholesale (NYSE: BJ), Innovative Industrial Properties (NYSE: IIPR), and StoneCo (NASDAQ: STNE) could offer outsized returns in both the near- and the long-term. Many investors wish they had bought stock in Walmart or Home Depot when they were both regional companies eyeing expansion across the U.S. BJ's Wholesale could offer them a second chance to make such an investment.
More and more countries are likely to follow the trend of legalizing medical marijuana. The truth is that there is plenty of competition among growers, and that a few cannabis companies are showing a profit. Consequently, this unprecedented year was tough for these stocks as the Alternative Harvest ETF (NYSEMKT: MJ) which tracks the whole industry is down more than 23% year to date.But there are plenty of growth opportunities ahead. And here are three stocks that can make good use of this trend.Innovative Industrial Properties - All The Positives Of Investing In Cannabis There is one marijuana stock that's up and it is Innovative Industrial Properties Inc (NYSE: IIPR). It is a fast-growing, real estate investment trust that was founded in 2016. Moreover, it is the first company on t...