IIPR - Bull Market and Beyond: Innovative Industrial Properties May Be a Buy but Is It Right for You?
2023-08-11 09:00:00 ET
A huge 9.1% yield is the big story these days at Innovative Industrial Properties (NYSE: IIPR) , the cannabis-focused real estate investment trust (REIT) -- and it may well draw the interest of some dividend investors. Yet, while the business continues to perform reasonably well, this landlord's yield is high for a reason.
If you are looking at Innovative Industrial's stock, make sure that it is the right fit for you before you buy it. Let's take a closer look.
The most obvious reason an investor might want to own Innovative Industrial is the huge 9.1% dividend yield . But that's not the only good news on the dividend front. For example, this REIT has increased its dividend every year since it started paying one in 2017. That's roughly five years, which may not seem like a long time, but the company only held its initial public offering in December 2016. So the dividend has been on a steady upward climb since, basically, the very first day.
For further details see:
Bull Market and Beyond: Innovative Industrial Properties May Be a Buy, but Is It Right for You?