Innovative Industrial Properties, Inc. Common Stock (IIPR)
71.68
-1.37 (-1.88%)
Innovative Industrial Properties is a real estate investment trust (REIT) that focuses on the acquisition, ownership, and management of specialized industrial properties that are primarily leased to licensed operators for medical-use cannabis facilities. The company is dedicated to providing these operators with the necessary infrastructure to support their cultivation and production efforts while ensuring compliance with regulatory standards. Through its investments, Innovative Industrial Properties aims to capitalize on the growing demand for legal cannabis and contribute to the development of the industry by offering tailored real estate solutions.
Shares of Innovative Industrial Properties, Inc. (NYSEIIPR) are trading lower after the company reported that PharmaCann, one of its tenants, defaulted on rent obligations for six of eleven leases in December.
New Lake Capital Partners (OTC:NLCP), a real estate company focused on cannabis properties, offers an attractive investment with a 9.1% dividend yield, well above the return on 10-year government bonds.
