Innovative Industrial Properties
IIPR

$120.67

0.9%

Market Cap: $3.42B

About: Innovative Industrial Properties Inc is a real estate investment trust engaged in the acquisition, ownership, and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. It conducts its business through a traditional umbrella partnership real estate investment trust, or UPREIT structure, in which properties are owned by Operating Partnership, directly or through subsidiaries. Its property portfolio is spread across the United States.

Employees: 22

Real Estate Real Estate

0

Funds holding %

of 6,686 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

100% more funds holding in top 10

Funds holding in top 10: 1 [Q1] → 2 (+1) [Q2]

34% more first-time investments, than exits

New positions opened: 47 | Existing positions closed: 35

26% more call options, than puts

Call options by funds: $54.6M | Put options by funds: $43.2M

3% more funds holding

Funds holding: 371 [Q1] → 383 (+12) [Q2]

9% more repeat investments, than reductions

Existing positions increased: 132 | Existing positions reduced: 121

5% more capital invested

Capital invested by funds: $2.05B [Q1] → $2.15B (+$98.7M) [Q2]

0.85% less ownership

Funds ownership: 70.16% [Q1] → 69.31% (-0.85%) [Q2]

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Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$120

1%

downside

Avg. target

$130

8%

upside

High target

$140

16%

upside

2 analyst ratings

1 positive

50%

1 neutral

50%

0 negative

0%

Piper Sandler Alexander Goldfarb 63% 1-year accuracy 34 / 54 met price target	1%downside $120	Neutral Maintained	9 Aug 2024
Roth MKM Scott Fortune 45% 1-year accuracy 5 / 11 met price target	16%upside $140	Buy Maintained	22 Jul 2024

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Financial journalist opinion

Based on 9 articles about IIPR published over the past 30 days

MarijuanaStocks

September 2024 Watchlist: Leading Cannabis REITs for Investment

The US cannabis industry continues to grow, reaching $32 billion in annual sales in 2023. Experts predict this number will exceed $50 billion by 2028 as more states legalize cannabis. This rapid growth provides ample opportunities for cannabis REITs, which lease properties to licensed operators. Recent headlines, such as Congress debating federal legalization, add further momentum to the market. As legalization efforts progress, REITs are expected to see increased demand for cultivation and retail spaces. Investors looking for steady returns should closely watch the top-performing REITs.

September 2024 Watchlist: Leading Cannabis REITs for Investment

Innovative Industrial Properties: Macro Tailwinds Are Promising With Secure Dividend Investment Thesis

IIPR's rally has not been surprising, thanks to the tailwinds from the potential cannabis rescheduling and the bullish support observed in its stock valuations/prices. Its tenants remains profitable enough, securing its dividend investment thesis, aside from the recently added tenant, Ayr Wellness. IIPR is an exception to the REIT rule, thanks to its extremely low net-debt-to-EBITDA ratio of 0.70x and growing AFFO per share despite the increased shares outstanding.

Innovative Industrial Properties: Macro Tailwinds Are Promising With Secure Dividend Investment Thesis

Innovative Industrial: Join 6%-Yielding Leader With Multiple Growth Catalysts, Here's Why

Innovative Industrial Properties is the only cannabis-related REIT listed on the NYSE. IIPR operates within a unique sector, acquiring specialized properties leased to state-licensed cannabis operators. The Company will benefit greatly from multiple growth catalysts and value drivers accompanying its property sector.

Innovative Industrial: Join 6%-Yielding Leader With Multiple Growth Catalysts, Here's Why

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Like football, REIT investing is about gaining control of real estate. REITs are becoming more attractive to income investors as inflation remains below average REIT yield and interest rates fall. With one company from each of the 19 equity REIT sectors, I offer a starting lineup of 11 companies, 6 reserves, and 2 water boys, for a solid REIT portfolio.

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Innovative Industrial: Why It Is Time To Move To The Sidelines (Rating Downgrade)

Innovative Industrial Properties has offered a lower volatility way to invest in the cannabis sector. The company maintains far less leverage than traditional net lease REITs. Management has done an exemplary job managing the storm of tenant defaults.

Innovative Industrial: Why It Is Time To Move To The Sidelines (Rating Downgrade)

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We are likely headed into a recession. Some investments are much more resilient to recessions. I highlight 2 of my top picks that are yielding up to 8.5%.

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Top Cannabis REITs to Watch in Mid-August: Maximizing Growth and Dividends

As the U.S. cannabis industry continues its rapid expansion, cannabis-focused REITs (Real Estate Investment Trusts) are becoming essential investment vehicles. The industry is projected to grow significantly, with sales expected to reach $41 billion by 2025. This growth is driven by increasing state-level legalization and a rising number of cannabis operators. Recently, headlines have speculated about potential federal legalization, which could further accelerate the industry's expansion. Investors are now keenly watching cannabis REITs, which provide the critical real estate infrastructure needed for cultivation, processing, and retail operations. These REITs offer a unique opportunity to capitalize on the industry's growth while managing risk through diversified portfolios. Furthermore, many cannabis REITs pay attractive dividends, adding a steady income stream to their growth potential.

Top Cannabis REITs to Watch in Mid-August: Maximizing Growth and Dividends

MarijuanaStocks

3 Marijuana Stocks For Investors To Watch In 2024

The cannabis industry continues to show why it is one of the fastest-growing sectors. As more people become comfortable with legal cannabis so is the idea of investing. For a long while people were scared to invest in cannabis. Currently, cannabis is still illegal however over half of the USA and several global regions have thriving marijuana businesses. From this people have been lowering their guard and taking more chances and ways to invest.

3 Marijuana Stocks For Investors To Watch In 2024

20 stocks the bears can't easily short — and that's why you shouldn't buy them

Difficult-to-short stocks are likely to lag the market. Few investors are aware of this tendency, much less act on it, because they instead focus on finding stocks that can outperform the market.

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Innovative Industrial Properties, Inc. (IIPR) Q2 2024 Earnings Call Transcript

Innovative Industrial Properties, Inc. (NYSE:IIPR ) Q2 2024 Results Conference Call August 6, 2024 1:00 PM ET Company Participants Brian Wolfe - VP, General Counsel, Secretary Alan Gold - Executive Chairman Paul Smithers - President, CEO & Director Ben Regin - Chief Investment Officer Catherine Hastings - Chief Operating Officer David Smith - CFO & Treasurer Conference Call Participants Tom Catherwood - BTIG Connor Mitchell - Piper Sandler Scott Fortune - Roth Capital Partners Eric Des Lauriers - Craig-Hallum Capital Group Operator Good day, and welcome to the Innovative Industrial Properties Second Quarter 2024 Earnings Conference Call. [Operator Instructions].

Innovative Industrial Properties, Inc. (IIPR) Q2 2024 Earnings Call Transcript

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