3 Reasons to Buy Innovative Industrial Properties and 1 Reason to Sell
The cannabis market has exploded over the past decade, helping Innovative Industrial Properties (NYSE: IIPR), which specializes in purchasing and leasing real estate to marijuana operators, become one of the hottest real estate investment trusts (REITs) in the market today.
Share prices have grown 10x in just five years' time, but concern surrounding the federal legalization of cannabis is creating a lot of volatility for the company today. If you're wondering if IIPR is still a buy, here are three reasons to consider buying the stock and one reason to sell.
IIPR has done an incredible job at creating value for its shareholders and achieving accelerated year-over-year growth. Since its IPO in 2016, the company has grown from one property in 2016 to 103 properties in 19 states today. Its funds from operations (a key metric for REITs that is similar to earnings per share) grew by 2,280% while net income grew by over 7,000% and revenue by 3,000%.
Source Fool.com
