Could Innovative Industrial Properties Help You Retire a Millionaire?
Had you invested in Innovative Industrial Properties (NYSE: IIPR) during its 2016 IPO, you would have a good start on becoming a millionaire. Initially offered at $20 per share, the real estate investment trust (REIT) now trades for around $240 per share, a better-than-1,150% increase, or a compounded growth rate of almost 74% annually.
Don't expect Innovative Industrial Properties to continue growing at such meteoric rates -- no business can maintain such a pace forever -- but don't expect it to collapse, either. In fact, there are several good reasons this REIT could be a millionaire-maker stock.
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Source Fool.com
