IIPR - If You Invested $1000 in Innovative Industrial Properties in 2021 This Is How Much You Would Have Today
2023-09-10 11:03:00 ET
Way back in the long-ago days of December 2020, I wrote an article detailing how much you would have gained by holding $1,000 worth of Innovative Industrial Properties (NYSE: IIPR) stock since the beginning of that year. Clever and lucky, you would have more than doubled your investment.
In revisiting the trajectory of this real estate investment trust (REIT) that focuses on marijuana growers, what a difference a few years can make. Moving the time frame forward from the beginning of 2021 until now, investors in Innovative Industrial Properties wouldn't have gained at all -- in fact, they would have lost a considerable amount of money. Let's find out how much, then dig into whether that makes the shares a bargain now.
As we all know, the numbers don't lie. Across that stretch of time, a $1,000 buy-in of Innovative Industrial Properties (IIP for short) would have shrunk to $483 today. And that's after a recent surge in pot stocks thanks to some recent stirrings within the federal government. But we'll get to that in a minute.
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If You Invested $1,000 in Innovative Industrial Properties in 2021, This Is How Much You Would Have Today