This stock is already up 40% and counting, but the gains are far from over.
Your free cannabis stock pick continues to be a workhorse.
Looking over the month of January alone, Innovative Industrial has put up a 24% gain. So why has this cannabis stock done so well where others have faltered?
Well, let’s start with a quick recap of what the company does.
Innovative Industrial is a real estate investment trust (REIT) focusing on medical-cannabis growing facilities. Since the company doesn’t touch the plant, it isn’t running afoul of any U.S. federal laws. As such, it is not barred from trading on U.S. exchanges.
That means the company has been able to trade on one of the largest exchanges – the New York Stock Exchange (NYSE) – for months. That makes it a bit more attractive to traditional investors.
As a REIT, Innovative Industrial is also legally obligated to pay out a certain amount of earnings to shareholders. As earnings have risen, so has its dividend – the last payout coming at a 40% increase over the one previous.
And we can expect that dividend to keep rising.
On Tuesday, Innovative Industrial released its latest investor presentation, revealing a total of $25.6 billion in annual base rent and property fees as of December 21, 2018 – an impressive increase of 29.3% since August 10, 2018.
Over the same period, Innovative Industrial’s capital invested rose by 32.9% to $167.4 million, with an almost flat yield on that investment above 15%.
With no other publicly listed REIT in the cannabis industry, we can expect to see Innovative Industrial Properties continue to post positive numbers in its reports – and for the share price and dividend yield to continue to grow.
Thank you for being an important part of the National Institute for Cannabis Investors,
Executive Director, National Institute for Cannabis Investors
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