Innovative Industrial Properties (IIPR): "Patience is a Virtue"

Innovative Industrial Properties is America's only publicly-traded REIT who's exclusively focused on the cannabis industries. It buys cannabis-growing facilities and then rents the spaces out to tenants through triple-net leases. Business was booming in the zero-interest rate economy, with IIP's committed capital skyrocketing 60-fold from $30 million in 2016 to $2 billion in 2023. But with interest rates rising and a shaky economy, growth is much slower these days. The stock currently pays a dividend of 6.7%. That's much higher than money market funds and bonds, with the possibility of rising if the Fed cuts rates in 2024. https://7investing.com/company-update/innovative-industrial-properties-patience-is-a-virtue/ See our current conviction rating on IIPR -- as well as all of the stocks in our universe of coverage -- by starting your 7investing membership today. Visit 7investing.com/subscribe and use promo code "IIPR" at checkout to get your first week for absolutely free!