|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||191.17 - 198.19|
|52-week range||191.17 - 198.19|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||60.61|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Innovative Industrial Properties (NYSE: IIPR) has become an unusual but lucrative stock. The San Diego-based real estate investment trust (REIT) directly benefits from the growth of the marijuana business despite its status as a real estate company. Innovative Industrial leases agricultural property and greenhouses set up to meet the needs of cannabis producers, and collects rental revenue from them.
After the November election, 36 U.S. states have now legalized medical marijuana and 15 allow recreational marijuana. Innovative Industrial owns 67 properties across 17 states, with 5.8 million square feet of rentable property.
IIPR earnings call for the period ending December 31, 2020.