There's a New Cannabis REIT On The Block: Is IIPR In Trouble?
For several years, Innovative Industrial Properties (NYSE: IIPR) was the only publicly traded REIT to specialize in the operation and leasing of real estate in medical marijuana properties. Being the first and only company in the space paid off big for IIPR and its shareholders, myself included. IIPR produced an annualized return of 67% for the past five years, and share prices grew over 1,000% during that time.
IIPR's explosive growth has left some investors feeling they missed their chance to invest in this budding sector, but IIPR has new competition. NewLake Capital Partners (OTC: NLCP) is the latest publicly traded REIT to offer medical marijuana real estate leasing. While the company is very much in its early growth stage, could this mean IIPR is in trouble?
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Source Fool.com
