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Innovative Industrial Properties Inc. (NYSE: IIPR) is the perfect introductory cannabis stock; it's profitable, pays a dividend, and is traded on a major U.S. exchange.
And when I was reviewing the company's latest earnings report, it confirmed IIPR has lived up to my expectations since I first brought it to your attention. I'll go over those details in a bit here.
Now, I know a lot of you have questions about Innovative Industrial's business model as well as the recent sector downturn. As a landlord to cannabis businesses, I especially understand the concern that recreational legalization could affect how the firm operates.
After all, it would seem that any property owner could just rent or sell their buildings to cannabis companies.
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About the Author
Greg Miller started working on Wall Street in September, 1987, just a month before the “Black Monday” stock market crash.
During his career there, he became an expert in just about every kind of publicly traded security - from blue-chip and small-cap stocks to municipals, junk bonds, and derivatives. As a portfolio manager, Greg was responsible for over $500 million of assets in mutual funds and insurance company accounts.
After leaving the Street, he designed a successful options trading strategy and made lucrative tech investments for a financial publication. He has also helped develop new products and worked with other editors to hone their strategies. He’s always been dedicated to deep, fundamental research - and he always will be - because he believes buying the very best companies at the right price is the best way to amass wealth in the stock market.