IIPR - Innovative Industrial Properties, Inc.

NYSE - NYSE Delayed Price. Currency in USD
91.33
+2.94 (+3.33%)
At close: 4:02PM EDT
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Previous Close88.39
Open91.00
Bid91.25 x 900
Ask91.74 x 1000
Day's Range90.11 - 94.67
52 Week Range39.45 - 139.53
Volume447,159
Avg. Volume587,944
Market Cap1.032B
Beta (3Y Monthly)2.14
PE Ratio (TTM)81.98
EPS (TTM)1.11
Earnings DateMay 9, 2019 - May 10, 2019
Forward Dividend & Yield2.40 (2.72%)
Ex-Dividend Date2019-06-27
1y Target Est164.00
Trade prices are not sourced from all markets
  • Cannabis Roundup: IIPR, ACB, and WEED
    Market Realist

    Cannabis Roundup: IIPR, ACB, and WEED

    Cannabis ETFs, which fell yesterday, showed some recovery today. Also, the majority of the cannabis stocks were trading in the green.

  • Innovative Industrial Buys California Asset, Expands Portfolio
    Zacks

    Innovative Industrial Buys California Asset, Expands Portfolio

    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.

  • Business Wire

    Innovative Industrial Properties Declares Third Quarter 2019 Dividends

    Common Stock Dividend Increased 30% from Prior Quarter and 123% from Q3 2018

  • Benzinga

    Innovative Industrial Properties Buys California Properties, Signs Lease With Vertical

    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.

  • Business Wire

    Innovative Industrial Properties Acquires California Property Portfolio and Enters into Long-Term Leases with Vertical

    Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the final parcel of a four-property portfolio in southern California, which comprises approximately 79,000 square feet of industrial space in total. The purchase price for the southern California portfolio was approximately $17.3 million in the aggregate (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease at each property with a subsidiary of Medical Investor Holdings LLC (d/b/a Vertical) for continued operation as licensed cannabis cultivation, extraction, manufacturing and distribution facilities in accordance with California regulations.

  • Innovative Industrial Boosts Funding for Illinois Property
    Zacks

    Innovative Industrial Boosts Funding for Illinois Property

    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.

  • Why Cannabis Suppliers Can Soar As Sector Pulls Back Sharply
    Investopedia

    Why Cannabis Suppliers Can Soar As Sector Pulls Back Sharply

    Companies that touch cannabis products continue to face a myriad of challenges, while their suppliers turn profits.

  • Buy Aurora Cannabis (ACB) Stock Before Earnings, Despite Marijuana Volatility?
    Zacks

    Buy Aurora Cannabis (ACB) Stock Before Earnings, Despite Marijuana Volatility?

    Despite growing sales and wider legalization, many pot stocks have been insanely volatile as Wall Street and investors try to wrap their heads around the marijuana industry. So should you think about buying "cheap" Aurora Cannabis (ACB) Stock before Q4 earnings?

  • Benzinga

    Innovative Industrial Properties Provides Additional $8M To Ascend Wellness Subsidiary

    Cannabis-focused real estate company Innovative Industrial Properties, Inc. (NYSE: IIPR) said Monday it has entered into an amendment of a lease with a subsidiary of Ascend Wellness Holdings, providing an extra $8 million in funding. IIP initially purchased the Illinois property and signed a long-term lease with Ascend Wellness Holdings in December. The two companies have cooperated before, as IIP already acquired and executed a lease with Ascend Wellness Holdings for its Michigan-based cannabis processing and cultivation facilities in July.

  • Business Wire

    Innovative Industrial Properties Expands Real Estate Partnership with AWH at Illinois Property

    Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (IIPR) focused on the regulated U.S. cannabis industry, announced today that it entered into an amendment of the lease with a subsidiary of Ascend Wellness Holdings, LLC (AWH) at the property located in Barry, Illinois, making available an additional $8 million in funding for expansion of AWH’s regulated cannabis cultivation and processing facilities at the property. The lease amendment also adjusted the base rent under the lease to take into account the additional available funding and extended the term of the lease agreement. Assuming full payment of the additional funding, IIP’s total investment in the property will be $33 million.

  • Better Cannabis Stock: Innovative Industrial Properties vs. KushCo Holdings
    Motley Fool

    Better Cannabis Stock: Innovative Industrial Properties vs. KushCo Holdings

    Which stock wins in a matchup between a top cannabis-focused REIT and a leading ancillary products and services provider to the cannabis industry?

  • 3 Unusual Cannabis Plays To Track Now
    TipRanks

    3 Unusual Cannabis Plays To Track Now

    Since Canada enacted nation-wide legalization of marijuana in October 2018, cannabis companies have been the hot new thing in stock investing. But sometimes, that hot new thing isn’t always hot. The cannabis sector has seen a sharp decline in recent months. Major players, like Canopy Growth (CGC) and Aurora Cannabis (ACB), are down by a third or more since the spring. The reasons are varied – licensing bottlenecks in Health Canada, supply and distribution difficulties in a new market, management turnover at Canopy – but the result is clear: the big cannabis companies are not delivering results so far.But there is still money to be made in the cannabis industry. The product is in demand; the problems the big suppliers face are more in the nature of growing pains. So, to profit, investors will benefit by thinking outside of the grow house. We’ve dipped into TipRanks’ stock database and found three companies that are thriving as service providers for the cannabis industry. Innovative Industrial Properties (IIPR)This company is a Real Estate Investment Trust (REIT), focused on the cannabis industry. Innovative buys and manages industrial properties which it then leases to cannabis growers. It’s a profitable model, and the company’s Q2 earnings result bear that out. IIRP reported gains of 155% in both revenues and net income, with the former coming in at $8.28 million and the latter at $3.07 million. EPS, at 30 cents, was up 76%.According to Exec. Chairman Alan Gold, IIPR has operations in 26 states, with over 2 million square feet leased long-term to cannabis growers. The average remaining lease term is over 15 years, and the properties have a current blended yield of 14.6%. CEO Paul Smithers noted that industry analysts see plenty of momentum in cannabis. In his comments on the earnings, he quoted sources projecting “a 35% increase in US regulated cannabis sales from 2018 to 2019, and reaching nearly $30 billion by 2023.” The current operations, and the prospects for near-term growth, provide IIPR with both a solid foundation and an upbeat outlook.In an added boon for investors, IIPR has been paying out a quarterly dividend over the past two years, with regular increases in the disbursement. The current yield is 2.16%, and the payment is $1.80 annualized. The July quarterly payment of 60 cents per share marked a 140% increase year-over-year.Right now, IIPR has one analyst rating, from James Sullivan of BTIG. Sullivan, a 4-star analyst, leads the REIT research team at BTIG. He gives IIPR a $151 price target, suggesting an impressive 81% upside. It’s a clear sign of confidence in the real estate aspect of the cannabis industry. Scotts Miracle-Gro Company (SMG)Land is important, but cannabis industry relies on increasing production and multiple harvests per year to maximize revenue. This requires greenhouses and other controlled growing facilities – letting the plants grow wild outdoors simply won’t cut it. And greenhouses are where Scotts Miracle-Gro comes in.The company may be best known for its Miracle-Gro weed killer and other home gardening products, but its Hawthorne subsidiary is deeply involved in the cannabis industry. Where IIPR provides the real estate needed by the growers, Scotts provides the hydroponic and lighting systems necessary for large-scale indoor cultivation of cannabis. In fact, the company’s annual sales growth of hydroponic systems has outpaced that of traditional lawn and garden gear for the last three years. In a 2016 interview, CEO Jim Hagedorn laid out a vision of marijuana ancillary products as the future of his company: “We’re doing it. It’s beyond stopping. And we’re not getting into pot growing. We’re talking dirt, fertilizer, pesticides, growing systems, lights. You know it’s a multibillion-dollar business...”Hagedorn’s bullish stand on cannabis has borne fruit. SMG’s fiscal Q3 earnings, reported at the end of July, showed a 14% positive surprise – EPS came in at $3.11 against a forecast of $2.71. The Q3 earnings were up 16% from the year-ago quarter. Shares in SMG are up 76% year-to-date.Despite the strong earnings and the increasing sales in grow supplies, the most recent analyst takes on SMG are exact opposites. Merrill Lynch’s Christopher Carey gives the stock a Sell rating, and a low price target of $96. He bases his stance on the declining outlook in cannabis stocks over the last two quarters.5-star analyst William Chappell, of SunTrust Robinson, sees a better future for SMG. He gives the stock a Buy rating, raised his price target by 20%, to $120. He writes, “The continued profitability progression in the Hawthorne segment is an important factor for the stock in quarters to come.” Chappell’s price target suggests a 10% upside to SMG stock.Shares in SMG are selling for $108.50, just above the $108 average target. SMG is up 5.6% since its July 31 Q3 earnings report. KushCo Holdings, Inc. (KSHB)Land and growing facilities aren’t the only support services that the cannabis industry needs. Containers, packaging, and vaporizer products are essential for the medical cannabis segment, for shipping the product and for customer use. KushCo fills this need for the industry.Supporting the cannabis industry has been lucrative. KushCo reported record earnings in its fiscal Q3, of $41.5 million. On the down side, the company is operating at a loss, and reported a net loss per share of 12 cents. This was an improvement of 2 cents per share from the year-ago quarter. As a mitigating factor to the earnings loss, KushCo reported $21.2 million in available cash in May, a gain of $7.7 million since the start of the company’s fiscal year.Wall Street’s analysts were generally pleased by KSHB’s quarterly performance. Benchmark analyst Mike Hickey saw fit to initiate coverage of the stock with a Buy rating and a $7 price target, suggesting an upside of 83%.Writing from Northland Securities, analyst Greg Gibas gave a clear reason for optimism in KSHB: “We believe KSHB will continue to benefit from growing & deepening its customer relationships while also cross-selling throughout its customer base as the company continues to power the global cannabis ecosystem.” His $8 target implies a high upside of 109%. Scott Fortune, of Ross Capital, also gave the stock an $8 target, and added, “The company reaffirmed its $150M FY19 annual revenue target with an emphasis on doubling revenues next quarter and new states being added to its list. Canada's cannabis 2.0 is also expected to come online in 4Q19 and contribute meaningfully to its top line.”These three reviews give KSHB its consensus rating of Strong Buy. The average price target, $7.67, suggests an upside potential of 100% from the current share price of $3.82.Visit TipRanks’ Top Stocks page, and find the most recommended stocks from Wall Street’s best analysts.

  • Why Marijuana Stock Innovative Industrial (IIPR) Fell 16% in August
    Motley Fool

    Why Marijuana Stock Innovative Industrial (IIPR) Fell 16% in August

    This dividend-paying cannabis stock is up more than 96% in 2019, making last month's pullback just a bump in the road.

  • Better Buy: Scotts Miracle-Gro vs. Innovative Industrial Properties
    Motley Fool

    Better Buy: Scotts Miracle-Gro vs. Innovative Industrial Properties

    These two pick-and-shovel cannabis stocks offer investors less volatile options for profitng from the legal marijuana industry.

  • The Tide Is Changing -- So Are Our Chances
    Zacks

    The Tide Is Changing -- So Are Our Chances

    Now that the market is getting a bit of an idea of what's happening in China and the trade deficit was revised down the market is rising on the news.

  • Top Marijuana Stocks That Pay Dividends
    Investopedia

    Top Marijuana Stocks That Pay Dividends

    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.

  • The Closest Thing to a Sure Thing With Investing in Pot Stocks
    Motley Fool

    The Closest Thing to a Sure Thing With Investing in Pot Stocks

    This strategy has data supporting it and can be summed up in only two words.

  • Why American Outdoor Brands, Innovative Industrial Properties, and Alexion Pharmaceuticals Slumped Today
    Motley Fool

    Why American Outdoor Brands, Innovative Industrial Properties, and Alexion Pharmaceuticals Slumped Today

    Find out what caused these very different companies all to lose ground.

  • Cannabis Roundup on TLRY, IIPR, ACB, and WEED
    Market Realist

    Cannabis Roundup on TLRY, IIPR, ACB, and WEED

    Although the broader equity market was flat, most of the cannabis stocks were trading in the red, as Aurora Cannabis fell 1.2% and Canopy Growth slid 2.2%.

  • 5 Ways to Invest in the Marijuana Craze With Ancillary Stocks
    Motley Fool

    5 Ways to Invest in the Marijuana Craze With Ancillary Stocks

    You don't have to buy cannabis growers or pot retailers to make money in the marijuana space.

  • What Stocks are on the U.S. Marijuana Index?
    Investopedia

    What Stocks are on the U.S. Marijuana Index?

    The U.S. marijuana index has significantly outperformed the S&P 500, but it also carries additional risks. The marijuana industry is young and stock prices react to government discussion on related policies. Investors should expect volatility.

  • 3 Stocks That Have Doubled and Still Have Room to Grow
    Motley Fool

    3 Stocks That Have Doubled and Still Have Room to Grow

    You don't want to bail on these growth stocks.

  • Better Cannabis Stock: Canopy Rivers vs. Innovative Industrial Properties
    Motley Fool

    Better Cannabis Stock: Canopy Rivers vs. Innovative Industrial Properties

    Which stock wins in a face-off between an investment spin-off of a leading Canadian cannabis producer and the top U.S. cannabis-focused REIT?

  • Benzinga

    Cannabis Industry Seeing Growing Interest

    It wasn’t so long ago that publicly traded companies shied away from investing in the nascent marijuana industry, even as California and Colorado began the legalization trend. James Boyd, education coach at TD Ameritrade, pointed out some Canadian publicly traded cannabis-related companies now have dual listings on the New York Stock Exchange™ and Nasdaq™. The big news stories around the industry center on consuming companies, such as the 2018 news that beer and spirits maker Constellation Brands Inc (NYSE: STZ) increased its investment in Canadian medical-cannabis producer Canopy Growth Corp (NYSE: CGC) to 38%.

  • 3 of the Most De-Risked Cannabis Stocks
    Motley Fool

    3 of the Most De-Risked Cannabis Stocks

    Existing supply deals or contracts make these pot stocks far less risky than many of their peers.