Innovative Industrial Properties is one of my original cannabis recommendations. It's one of my favorites, too – and not just because it's given folks a chance at more than 200% in peak gains, either.
I like innovative because of its increasing yield and its totally unique position in the cannabis sector. It doesn't touch the plant, which frees it from the heaviest regulatory baggage, but as a real estate investment trust, it provides the real estate needed for cannabis companies to do business.
In fact, Innovative buys the cannabis facilities from the companies that build them and leases those facilities back at a handsome premium. Innovative collects rents in excess of market rates, and the companies get the cash they need to grow their cannabis business.
But since last we spoke about it, IIPR shares are down by about 35%.