2024-07-23 09:48:45 ET
Summary
- Innovative Industrial delivered a 69% return over the past year, driven by strategic real estate acquisitions and strong AFFO growth.
- The global medical cannabis market is projected to grow from $24.87 billion in 2024 to $69.75 billion by 2029, at a CAGR of 22.9%.
- IIPR maintains a high occupancy rate of 95.2% across 108 properties, with diversified tenant and geographic exposure.
- The company’s AFFO for Q1 2024 was $63 million, with a strong AFFO payout ratio of 82%, supporting attractive dividends.
- The company’s robust financial position includes 11% debt to total assets and $203.5 million in total liquidity.
Investment Thesis
Last year, we initiated Innovative Industrial Properties, Inc. ( IIPR ) coverage as a buy due to its strong outlook and growth potential. Over the past year, IIPR's stock delivered a 69% return, including dividends, significantly outperforming the market....
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For further details see:
Innovative Industrial: Unlocking Value In Cannabis REITs