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IIPR: Is this Marijuana Stock Still a Strong Buy?

IIPR: Is this Marijuana Stock Still a Strong Buy?Innovative Industrial Properties (NYSE: IIPR) continues to make headlines as it’s doubled in value since the global COVID fire-sale in mid-March but is this marijuana stock still a strong buy?

First off, Innovative Industrial Properties is already a different cannabis entity of its own as it does not operate any cannabis businesses directly. It simply purchases properties deemed fit for cannabis business operations and enters into long-term lease agreements with cannabis companies such as Curaleaf (CURLF). Recently, Innovative Industrial Properties acquired a new property, one that is approximately 111,000 sq. ft., in Blue Anchor, New Jersey. Innovative Industrial Properties already has a strong track record as a solid cannabis stock to buy in 2020 and it can even be possibly considered as one of the strongest cannabis stock investing opportunities at this time. But is IIPR still one of the best marijuana stocks for 2020?

IIPR: Strong Business Model & Proven Track Record

IIPR: Is this Marijuana Stock Still a Strong Buy?

A routine comprehensive analysis performed by our analysts determined that Innovative Industrial Properties is still a strong buy for cannabis and hemp stocks investors. The company’s business model of real estate acquisition and long-term lease agreements is one that provides minimal risk compared to other cannabis company investments. Real estate purchases made by Innovative Industrial Properties are likely to increase in value from the time of their initial purchase and provide value as an asset to the company as it utilizes those properties with lease agreements. The company is not subject to any fluctuations in the cannabis market, even ones that last several years, as the company’s lease agreements are often longer than five to ten years. With all that taken into consideration, the two new recent developments announced by Innovative Industrial Properties further provide confidence to our analysts that the company is a strong marijuana stock buy for 2020.

IIPR Announces Real Estate Acquisition in New Jersey

The company’s recent $5.5 million acquisition in the state of New Jersey brought the company’s total own square footage to 4.5 million sq. ft. across 16 states. Its recent acquisition in New Jersey gained the company 111,000 square feet of industrial space. Following the close of the acquisition, the real estate property was immediately entered into a long-term lease agreement.

IIPR Agreement with Cannabis Powerhouse Curaleaf

IIPR: Is this Marijuana Stock Still a Strong Buy?

The company announced it has successfully entered into a long-term lease agreement with a Curaleaf subsidiary for its newly acquired 111,000 sq. ft. industrial property in New Jersey. Curaleaf, through a subsidiary, has agreed to a long-term, triple-net lease agreement with Innovative Industrial Properties for this New Jersey property. The company will provide reimbursements to Curaleaf of up to $29.5 million as Curaleaf is required to improve the property. If the company fully reimburses Curaleaf the maximum allotted amount, the total investment into the New Jersey property would be $35 million.

Our analysts, with the two recent developments analyzed and accounted for, still believe that Innovative Industrial Properties is one of the best cannabis stock investment opportunities for 2020. The company, a real estate investment company at its core, still represents a cannabis company investment that all cannabis investors could possibly profit greatly from as it represents a safer version of a cannabis stock investment.

IIPR Profile

Sector: Finance
Industry: Real Estate Investment Trusts
Employees: 13
Innovative Industrial Properties, Inc. is a real estate investment trust, which engages in the acquisition, ownership, and management of industrial properties. It operates through the following geographical segments: Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New York, North Dakota, Ohio, and Pennsylvania. The firm’s property portfolio include PharmaCann; Ascend Wellness Holdings, LLC; Vireo Health, Inc.; and Green Peak Industries, LLC. The company was founded by Alan D. Gold and Paul E. Smithers on June 15, 2016 and is headquartered in San Diego, CA.

IIPR: Is this Marijuana Stock Still a Strong Buy?


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