Is It Too Late To Buy Innovative Industrial Properties?
Innovative Industrial Properties (NYSE: IIPR) has a unique focus on owning marijuana grow houses. That said, the real estate investment trust (REIT) is up 60% over the past year, more than 400% over the past three years, and an incredible 1,200% over the past five years. Is it too late to jump on the marijuana bandwagon here? Perhaps not, as long as you control your expectations. Here's why.
When Innovative Industrial Properties held its initial public offering (IPO) in late 2016 it didn't own a single property. All it had was an idea -- to provide capital to marijuana growers using the net lease real estate model. It was an ideal relationship in many ways, with the company quickly closing its first deal just weeks after coming public.
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Source Fool.com
