Is Innovative Industrial Properties a Screaming Buy After Its Big Sell-Off?
A bad year just got even worse for Innovative Industrial Properties (NYSE: IIPR) (IIP). As of the market close on Thursday, July 14, 2022, the stock had fallen 58% year to date.
On Friday, IIP revealed that one of its tenants, Kings Garden, defaulted on its rent and property management fees for July. IIP's shares closed nearly 14% lower on the news. The downward momentum continued this week, with the stock slipping around 4% on Monday.
Some investors are undoubtedly tempted to throw in the towel. But is Innovative Industrial Properties a screaming buy after its big sell-off?
Source Fool.com
