|Bid||67.12 x 800|
|Ask||0.00 x 800|
|Day's Range||71.11 - 75.17|
|52 Week Range||39.56 - 139.53|
|Beta (3Y Monthly)||2.13|
|PE Ratio (TTM)||64.74|
|Forward Dividend & Yield||3.12 (4.24%)|
|1y Target Est||N/A|
Innovative Industrial Properties, Inc. (IIPR) closed the most recent trading day at $78.21, moving +0.51% from the previous trading session.
Last week, Cannabis-focused real estate company Innovative Industrial Properties, Inc. (NYSE: IIPR) announced it acquired a 156,000 sq. ft. property in Warren, Michigan. At the same time, the company signed a triple-net lease agreement with LivWell Michigan, LLC, a licensee of LivWell Holdings, Inc. LivWell will run the property as licensed cannabis cultivation and processing facility once the improvement is completed.
Innovative Industrial Properties, Inc. (IIPR) closed the most recent trading day at $89.92, moving -0.94% from the previous trading session.
Marijuana stocks have reversed recent losses as report finds that Americans favor decriminalizing all drugs. Thus, investing in cannabis stocks for the moment won't be a bad proposition.
When most people think of marijuana stocks, the last thing they think of is dividends. The legal marijuana industry is still very young, and new companies in growing industries need money to expand. Furthermore, U.S. investors in the marijuana space tend to currently focus on a handful of Canadian companies which have enjoyed the opportunity to list on U.S. exchanges.
Cresco Labs Inc. (CSE: CL) (OTC: CRLBF) said Monday it has entered an agreement to sell its Kankakee, Illinois properties to Innovative Industrial Properties, Inc. (NYSE: IIPR) for $46.3 million. The properties account for around 100,000 square feet of industrial space in total, the company said. At the same time, the company also signed a triple-net lease agreement with Innovative Industrial Properties and said it will carry on with the operation each property as cannabis processing and cultivation facility.
Expansion of funding for a Massachusetts property with PharmaCann arm to help Innovative Industrial Properties (IIPR) bank on favorable trends and drive top-line growth.
While marijuana is never not being talked about in the financial news somewhere, it's become a hot topic again on Wall Street as Canada gets ready to legalize marijuana edibles, beverages, extracts and lotions on October 17. The products should be available for purchase around mid-December.Source: Shutterstock That's fantastic!Now, according to Arcview Market Research, by 2022, the cannabis edibles market could be worth a whopping $4.1 billion in Canada and the United States. So, it's no surprise that investors are trying to figure out the best way to play this rising trend.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn fact, I was recently asked if investors should buy marijuana stocks now or wait until we see profits. My answer? Wait.Two of the big pure-plays on marijuana, Canopy Growth Corporation (NYSE:CGC) and Aurora Cannabis Inc. (NYSE:ACB), have seen their growth slow in their most-recent earnings quarters. That's the opposite of what you want in a company you're investing in!To be honest, I don't see the cannabis side of the marijuana business being the big winner. In fact, I look for it to shrink.With marijuana legal on a recreational level in Canada and the U.S. getting closer to following suit, a lot of folks can try it now. But smoking marijuana is not "one size fits all." There's a lot of varieties and differences in experience when it comes to smoking marijuana, and nothing has been settled on what works best for the marketplace. Clearly, there's still a lot that needs to be worked out there.There's also the blowback from vaping. The CDC announced yesterday that there are now 530 cases of lung injury tied to vaping -- a 39% increase from the 380 cases reported just a week ago. They believe that the illness is due to vaping THC, nicotine or a mix between the two. Many patients have wound up in the hospital, and so far, seven have died. There's also concern over not knowing what the long-term effects of vaping will be. So, this does not bode well for the smoking side of the business.Instead, I look for the CBD oil market to grow over the long term. However, there are still some issues here, too.Now, this might come as a surprise, but every weekend I bicycle with a guy who owns a big hemp farm and is in the hemp seed business. While hemp is perfectly legal in all 50 states of the U.S., states like Idaho might see him as being in the pot business.You see, cannabis seeds are both male and female. The female plants without seeds have higher THC levels, while the male cannabis plants have much less. However, sometimes they change their gender, and if a grower gets too much female in the hemp, they have to basically burn it off, and there goes their crop.The other problem with CBD oil is the quality is very mixed. I have anesthesiologist clients who swear by it, but they can't get the quality they want. But once that's fixed, CBD could be a huge business.Now, I know what you're thinking: Louie, does this mean you're completely against the marijuana space? Investing in the "Legit" Marijuana CompaniesAbsolutely not. I just prefer to focus on the companies that have already proven their profitability with track records of solid growth. The "legit" ones, if you will.For example, in my Accelerated Profits service, I recommended Shopify, Inc. (NYSE:SHOP), a Canadian company, back in January. This company offers a "hassle-free" platform to other retail businesses, giving them space to build their brand and sell their products. It benefited from the legalization of cannabis in Canada, thanks to the surge in online shopping for cannabis.At the time of my recommendation, the company had posted an average 211.7% earnings surprise in the past four quarters.The result for my subscribers? We locked in a solid 46% profit in just three months.SHOP isn't the only company I've recommended in this sector. In Breakthrough Stocks, we currently have Innovative Industrial Properties, Inc. (NYSE:IIPR) on the Breakthrough Stocks Buy List. It's the only publicly traded cannabis real estate investment trust (REIT). The stock boasts a strong 2.3% dividend yield.There are two big factors that make IIPR so special. The first is that because it's a REIT, it's required to return at least 90% of its taxable income to shareholders in the form dividends. In fact, IIPR will pay its third-quarter dividend of $0.78 on October 15. All shareholders of record on September 30 will receive the dividend.The second is that it's not a pure play, either. You see, Innovative Industrial Properties has never grown, processed or sold a single marijuana product. Rather, it leases facilities to medical cannabis providers. Basically, it's the landlord of the pot growers.And it's continued to grow nicely. In the second quarter, property acquisitions helped the REIT achieve triple-digit revenue growth. IIPR acquired 10 properties between April and June, as well as another four properties in July. Year to date, the REIT has acquired 15 properties for about $167.3 million, and it currently owns 26 properties in 12 states.For the second quarter, revenues surged 159.4% year-over-year to $8.3 million, up from $3.2 million in the same quarter a year ago. Earnings per share soared 76.5% year-over-year to $0.30. The consensus estimate called for earnings of $0.29 per share on $8.34 million in revenue, so IIPR posted a 3.4% earnings surprise and a slight sales miss. Looking forward, though, IIPR's earnings are forecast to grow 123.8%Now, this is a volatile stock, and after hitting 52-week high after 52-week high, its shares are now trading well below those levels. However, I see the pullback as an excellent buying opportunity, because as the demand for marijuana and cannabis rises, so will the need for the properties to grow the plant. I'm such a big fan of this stock that it's one of my Top 5 Stocks on my Breakthrough Stocks Buy List.However, it's all about buying at the right price, as you never want to overpay for a stock. So, you can get my buy limit for IIPR here. Also, I recently shared my latest thoughts on IIPR in the Sept. 20 Breakthrough Stocks Weekly Update, so make sure to sign up here for all the details.Louis Navellier is a renowned growth investor. He is the editor of four investing newsletters: Growth Investor, Breakthrough Stocks, Accelerated Profits and Platinum Growth. His most popular service, Growth Investor, has a track record of beating the market 3:1 over the last 14 years. He uses a combination of quantitative and fundamental analysis to identify market-beating stocks. Mr. Navellier has made his proven formula accessible to investors via his free, online stock rating tool, PortfolioGrader.com. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy Under $10 * 30 Marijuana Stocks to Buy as the Future Turns Green * 7 Consumer Stocks Ready to Rally Hard The post Why You Should Wait to Buy Marijuana Stocks appeared first on InvestorPlace.
Innovative Industrial Properties, Inc. (IIPR) closed the most recent trading day at $95.50, moving +0.3% from the previous trading session.
The cannabis industry has been on a rollercoaster ride this year. CannTrust, Tilray, and KushCo stocks have fallen more than 40% in 2019.
Innovative Industrial Properties, Inc. (NYSE:IIPR) stock is about to trade ex-dividend in 3 days time. You can...
REITs will likely benefit from the Fed's latest rate-cut move to sustain economic expansion. This apart, underlying fundamentals of certain asset categories have been displaying strength.
As many investors know, hype doesn't equal profits when it comes to growing a portfolio in cannabis stocks. Having said that, let's look at Innovative Industrial Properties (NYSE:IIPR), Scotts Miracle-Gro (NYSE:SMG) and Hexo (NYSE:HEXO) in order to avoid the buzz and cultivate better-looking possibilities off and on the price chart. Let me explain.Cannabis stocks. The market's potential is massive to say the least. But for those that have taken stakes in the group's most popular names such as Canada's top producer Canopy Growth (NYSE:CGC), former capitalization top dog Tilray (NASDAQ:TLRY) or Cronos (NASDAQ:CRON), losses have likely followed.Without getting too deep into the minutiae, early enthusiasm and momentum with most cannabis investments has adjusted to today's more difficult realities. Cannabis stocks face massive layers of regulatory red tape as they attempt to tap into new markets. And many of these companies are up to their eyeballs in debt while vying to be competitive.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars Eventually, there will be winners among cannabis producers. And for those investors that hang on, the returns on the right pick could be enormous. I get it. At the same time, buying the proverbial picks-and-shovel plays and the companies already quietly making money for investors, off and on the price charts, makes for an even stronger blend of exposure to cannabis stocks. Cannabis Stocks Buy: Hexo (HEXO)Hexo is our first "buy" recommendation. HEXO stock is also the most speculative of our three cannabis stocks to buy. The company is looking to cash in on the niche edibles and cannabis-infused beverages market, and has stronger odds of success courtesy of its partnership with Molson Coors (NYSE:TAP) which allows it access to the beverage giant's many resources.On the price chart, HEXO stock is unique among its peer group. Despite this year's steep correction in cannabis stocks, shares of Hexo have maintained a weekly uptrend. The last few weeks have been spent trying to rally out of a well-supported, small double-bottom pattern.With pattern confirmation in hand and a supportive-looking stochastics setup, my recommendation in HEXO is to buy shares today. I won't put a price tag on the upside potential of this more speculative play. But placing an exit below support, if required, is smart business. Scotts Miracle-Gro (SMG)Scotts Miracle-Gro is the second of our stocks to buy. If you've ever been in a Home Depot (NYSE:HD) or Lowe's (NYSE:LOW) -- or mowed a lawn for that matter -- SMG stock is familiar with its lawn and gardening products. Scotts is also profitable, offers a dividend of 2.3% and happens to nicely positioned within the cannabis industry as its largest hydroponics supplier.Technically, today's investors are able to buy SMG stock as it pulls back into a high consolidation pattern. The price action has taken on the characteristics of a high handle formation after shares broke out of a large cup-shaped base to new highs, but began to retreat following a gain of around 8%. * 7 Momentum Stocks to Buy On the Dip With SMG stock just now registering an oversold stochastics condition, my advice is to put shares on your radar to purchase on a second move back above the prior high and above the cup breakout level of $105.23. Place an initial stop-loss below $99. Innovative Industrial Properties (IIPR)Innovative Industrial Properties is the last of our three cannabis stock buys. IIPR stock is a landlord for many of the sector's producers. Like SMG stock, IIPR is profitable and as a real estate investment trust, investors are paid regular income of 3.4%. But please, don't think of IIPR as a widows-and-orphans investment like Coca-Cola (NYSE:KO). These shares are volatile.Currently, IIPR stock's aggressive profile has taken shares out of a symmetrical triangle pattern and into a deep correction of around 40% at the recent low. Again, this cannabis stock is not for the faint of heart.The good news today is that shares are oversold and have signaled a bullish stochastics crossover. And with IIPR confirming a weekly candlestick reversal pattern after loosely testing key Fibonacci support, this cannabis stock is ripe for the picking in conjunction with a blended stop-loss below $80.90.Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional options-based strategies and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars * 5 Stocks to Buy With Great Charts * 5 Goldman Sachs Stocks to Buy with Over 20% Upside Potential The post 3 Cannabis Stocks to Buy Today appeared first on InvestorPlace.
The markets were flat today as the Fed started its two-day meeting. Cannabis ETFs reported mixed performance, and cannabis stocks traded mostly in the red.
Innovative Industrial Properties, Inc. (IIPR) closed at $91.07 in the latest trading session, marking a -0.28% move from the prior day.
Expansion of portfolio with the California property's buyout and lease with Vertical will help Innovative Industrial Properties (IIPR) bank on favorable trends as well as drive top-line growth.
Innovative Industrial Properties, Inc (NYSE: IIPR), said Thursday it closed the acquisition of the final parcel of a four-property portfolio in California that consists of around 79,000 square feet of industrial space. At the same time, the company has signed a long-term, triple-net lease at each property with a subsidiary of Medical Investor Holdings LLC, which is doing business as Vertical. Vertical is a cannabis company licensed for cultivation, extraction, production and distribution with a comprehensive portfolio of cannabis products.
Expansion of funding for an Illinois property with Ascend Wellness Holdings arm to help Innovative Industrial Properties (IIPR) bank on favorable trends and drive top-line growth.