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FFO per share missed analyst estimates, but i think its more just the market dropping recently....everything else in earnings were pretty good...I see it rebounding, I got out around 205 and am looking to get back in after I see the market is a tad more stable
Does anybody know why this stock has dropped so badly?
That a serious question or a jab
Good fins?
I buy lots of highs especially when I am high
Innovative Industrial Properties Declares Fourth Quarter 2020 Dividends
December 14, 2020
Represents Ninth Increase in Common Stock Dividend since December 2016 IPO
SAN DIEGO--(BUSINESS WIRE)-- Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a fourth quarter 2020 dividend of $1.24 per share of common stock, representing an approximately 6% increase over IIP's third quarter 2020 dividend of $1.17 per share of common stock, and a 24% increase over IIP’s fourth quarter 2019 dividend of $1.00 per share of common stock. The dividend is equivalent to an annualized dividend of $4.96 per common share, and is the ninth dividend increase since IIP completed its initial public offering in December 2016.
Additionally, IIP announced today that its board of directors has declared a regular quarterly dividend of $0.5625 per share of IIP’s 9.00% Series A Cumulative Redeemable Preferred Stock.
The dividends are payable on January 15, 2021 to stockholders of record at the close of business on December 31, 2020.
Looking good here imo
... only a matter of time
Good luck everyone $IIPR
So the news with IIPR. What do you guys think. Was a good company move or not. My stock really went down
Glad I've been able to get what I could in the 120s, will definitely add more on any dips here, love what the future holds for this company, especially with 5 more states legalizing!
Thank you for your opinion. You will love to be working with options.
Sorry, not an options expert at all. I'm just starting to dabble in options myself. So can't really answer...
How high, will its pretty high right now.
Pros:
- Another great qtr. reported
- Safe bet w/another increase in the next qtrly divy (Dec)
- the Market likes Biden as for as MJ is concerned
- Was positively mention on "Mad Money" last night (probably the main reason this popped today.
Cons:
- RSI (above 70) is in over-brought territory
- Gap up today: yesterday's closed $133.58 today's open $141.29. Many think that gap needs to be filled, hence pull back in to gap area. Does not mean that will happen...
-Could pull back with Election News...could???
Conclusion: I have no idea how high it can go in regards to the 20 Nov option. But, my best guess, it could easily push though $160 by 20 Nov.
NOTE: JUST MY OPINION!!! LOL GLTY
I have a question for you. I bought the November 20 option on IIPR. How hi and what price would you sell at? I don’t want to sell to quick but not knowing how high this could go by November 20. What’s your thoughts on this today is a high
This really great news! I am invested deep with IIPR and have been for years. Love this company! Thanks for sharing
IIPR is simply killing it...expect another divy raise when announced probably in late Nov to be paid in late Dec...my best guess going by previous divy announcements. And my Divy guess...$1.25
Innovative Industrial Properties Reports Third Quarter 2020 Results
Investments Drive 197% Q3 Total Revenues, 205% Q3 Net Income and 192% Q3 AFFO Growth Year-over-Year
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the medical-use U.S. cannabis industry, announced today results for the quarter ended September 30, 2020.
https://ih.advfn.com/stock-market/NYSE/innovative-industrial-pr-IIPR/stock-news/83608382/innovative-industrial-properties-reports-third-qua
Fairly typical action of IIPR. Around the divy date. There's no specific negative news related to IIPR if that's what your asking.
I'm guessing some of this sell off is in-line with today's overall market sell-off. And one can attribute that the rise of COVID cases, elections and current stimulus package status. At least that's what I hear on the airwaves today...
Does anyone know why the stock has dropped so much lately? Thanks
BREAKING NEWS: $IIPR 2 Game-Changing Stocks That Are Better Buys Than Snowflake
To the frugal value investor, it might seem off that Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) owns shares of cloud-based data company Snowflake (NYSE: SNOW) . The stock is anything but cheap. With a price-to-sales ratio of 120, it's a highly risky ...
Got this from IIPR - 2 Game-Changing Stocks That Are Better Buys Than Snowflake
no question this is the best in the sector. Nice to get a dividend ontop
Innovative Industrial Properties Declares Third Quarter 2020 Dividends
September 15, 2020
Common Stock Dividend Increased 10% from Prior Quarter and 50% from Q3 2019
SAN DIEGO--(BUSINESS WIRE)-- Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a third quarter 2020 dividend of $1.17 per share of common stock, representing an approximately 10% increase over IIP’s second quarter 2020 dividend of $1.06 per share of common stock, and a 50% increase over IIP’s third quarter 2019 dividend of $0.78 per share of common stock. The dividend is equivalent to an annualized dividend of $4.68 per common share, and is the eighth dividend increase since IIP completed its initial public offering in December 2016.
Additionally, IIP announced today that its board of directors has declared a regular quarterly dividend of $0.5625 per share of IIP’s 9.00% Series A Cumulative Redeemable Preferred Stock.
The dividends are payable on October 15, 2020 to stockholders of record at the close of business on September 30, 2020.
http://investors.innovativeindustrialproperties.com/press-releases/2020/09-15-2020-120017224
https://finance.yahoo.com/news/innovative-industrial-properties-acquires-michigan-214000505.html
IIP Expands Property Portfolio to 62 Properties in 16 States Comprising Over 4.7 Million Square Feet
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property located at 29600 Stephenson Highway in Madison Heights, Michigan.
The purchase price for the property was $6.2 million (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease agreement with a subsidiary of Holistic Industries Inc. ("Holistic"), which intends to operate the property as a regulated cannabis cultivation, processing and dispensing facility, upon completion of development of an approximately 63,000 square foot industrial building. In connection with the development of the property, IIP has agreed to provide reimbursement of up to $18.8 million. Assuming full reimbursement for the development of the property, IIP’s total investment in the property will be $25.0 million.
In addition to the Michigan property, IIP owns and leases to Holistic three other properties in Maryland, Massachusetts and Pennsylvania.
As the pioneering real estate investment trust (REIT) for the medical-use cannabis industry, IIP partners with experienced medical-use cannabis operators and serves as a source of capital by acquiring and leasing back their real estate assets, in addition to offering other creative real estate-based capital solutions.
"We have had the privilege of being Holistic’s long-term real estate partner since 2017, and supporting them in their expansion over the years with key growth capital along the way," said Paul Smithers, President and Chief Executive Officer of IIP. "Josh and his team of dedicated professionals have set a standard for product quality, patient care and customer experience that we are proud to support, and we are thrilled for the success that they have achieved."
Holistic is one of the largest private, vertically-integrated multi-state operators in the cannabis industry, with operations in California, Maryland, Massachusetts, Michigan, Pennsylvania and Washington D.C. Founded by Chief Executive Officer Josh Genderson in 2011, Holistic’s success is driven by its unique and scalable approach and mission to be the best place to work, shop and invest in the cannabis industry. Holistic is dedicated to delivering exceptional cannabis products to patients and customers in an environment of highly focused customer service and individualized patient care.
"IIP has been an excellent real estate partner, and we appreciate their unwaivering support in facilitating our expansion over the past three-plus years," said Josh Genderson, Chief Executive Officer of Holistic. "We look forward to working closely with IIP in the development of this property and the vision we have for the community, creating a state-of-the-art facility that produces the high quality, consistent product, with a compassionate, customer-focused experience for our patients and customers, and an operation that provides great jobs and opportunities for career advancement for local residents."
According to a Michigan Marijuana Regulatory Agency report, July 2020 total sales for medical-use and adult-use cannabis were approximately $109.6 million, equating to approximately $1.3 billion in sales on an annualized basis and representing a continued strong, month-to-month growth. Michigan began regulated adult-use cannabis sales in December of last year. As of today, IIP’s total investment, including committed funding for future tenant improvements, for the properties IIP owns in Michigan is approximately $155.8 million.
As of September 1, 2020, IIP owned 62 properties located in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, Nevada, North Dakota, Ohio, Pennsylvania and Virginia, totaling approximately 4.7 million rentable square feet (including approximately 1.7 million rentable square feet under development/redevelopment), which were 99.3% leased (based on square footage) with a weighted-average remaining lease term of approximately 16.0 years. As of September 1, 2020, IIP had invested approximately $844.8 million in the aggregate (excluding transaction costs) and had committed an additional approximately $245.9 million to reimburse certain tenants and sellers for completion of construction and tenant improvements at IIP’s properties. These statistics do not include up to approximately $14.5 million that may be funded in the future pursuant to IIP’s lease with a tenant at one of IIP’s Massachusetts properties, as the tenant at that property may not elect to have IIP disburse those funds to the tenant and pay IIP the corresponding base rent on those funds. These statistics also treat IIP’s Los Angeles, California property as not leased, due to the tenant being in receivership and its ongoing default in its obligation to pay rent at that location.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017. Additional information is available at www.innovativeindustrialproperties.com.
Innovative Industrial Properties Forward-Looking Statements
This press release contains statements that IIP believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the acquisition and lease of the Michigan property, Holistic and the Michigan regulated cannabis market, are forward-looking statements. When used in this press release, words such as we "expect," "intend," "plan," "estimate," "anticipate," "believe" or "should" or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. IIP disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200901006097/en/
Contacts
Company Contact:
Catherine Hastings
Chief Financial Officer, Chief Accounting Officer and Treasurer
Innovative Industrial Properties, Inc.
(858) 997-3332
News: $IIPR Why Innovative Industrial Properties Stock Surged 18% in July
Shares of Innovative Industrial Properties (NYSE: IIPR) jumped 18.4% last month, according to data provided by S&P Global Market Intelligence , after the real estate investment trust ( REIT ) expanded its property portfolio and boosted its dividend. IIP entered J...
In case you are interested IIPR - Why Innovative Industrial Properties Stock Surged 18% in July
News: $IIPR Be Like Buffett: "Bet on America" With These 3 Stocks to Buy Now
Warren Buffett believes in America -- that it will recover from a recession and from the COVID-19 pandemic. At a virtual shareholders' meeting in May, the legendary head of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) told investors that "nothing can basically stop America" and that ...
Got this from IIPR - Be Like Buffett: "Bet on America" With These 3 Stocks to Buy Now
183% increase from the prior year’s second quarter! Great results!
https://ih.advfn.com/stock-market/NYSE/innovative-industrial-pr-IIPR/stock-news/83009203/innovative-industrial-properties-reports-second-qu
News: $IIPR 10 Pot Stocks Expected to Grow Sales by 60% (or More) in 2021
For more than 15 months, cannabis stocks have been mired in a relatively precipitous downtrend. Growing pains are common with all next-big-thing investments, and the marijuana industry is no different. Regulatory-based supply problems in Canada, high tax rates on legal weed in select U.S. states...
Read the whole news IIPR - 10 Pot Stocks Expected to Grow Sales by 60% (or More) in 2021
News: $IIPR Better Cannabis Play: GW Pharmaceuticals vs. Innovative Industrial Properties
You don't have to buy shares of a marijuana grower to profit from growth in the cannabis sector. Actually, some of the biggest winners in 2020 belong to companies that aren't pure-play pot stocks. These top stocks include GW Pharmaceuticals (NASDAQ: GWPH) and Innovative Industrial...
Read the whole news IIPR - Better Cannabis Play: GW Pharmaceuticals vs. Innovative Industrial Properties
News: $IIPR 3 Top Marijuana Stocks to Buy for the 2nd Half of 2020
A lot could change for the cannabis industry over the next six months. In Canada, the new cannabis derivatives market could pick up momentum -- or not. In the U.S., the November elections hold the potential to set the stage for potential marijuana legalization at the federal level or push back a...
Find out more IIPR - 3 Top Marijuana Stocks to Buy for the 2nd Half of 2020
Another dividend increase! Fantastic!
Common Stock Dividend Increased 6% from Prior Quarter and 77% from Q2 2019
SAN DIEGO--(BUSINESS WIRE)-- Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a second quarter 2020 dividend of $1.06 per share of common stock, representing a 6% increase over IIP's first quarter 2020 dividend of $1.00 per share of common stock, and an approximately 77% increase over IIP's second quarter 2019 dividend of $0.60 per share of common stock. The dividend is equivalent to an annualized dividend of $4.24 per common share, and is the seventh dividend increase since IIP completed its initial public offering in December 2016.
Additionally, IIP announced today that its board of directors has declared a regular quarterly dividend of $0.5625 per share of IIP's 9.00% Series A Cumulative Redeemable Preferred Stock.
The dividends are payable on July 15, 2020 to stockholders of record at the close of business on June 30, 2020.
http://investors.innovativeindustrialproperties.com/press-releases/2020/06-15-2020-120028710
911 Industrial Street in New Castle, Pennsylvania. Nice deal!
https://ih.advfn.com/stock-market/NYSE/innovative-industrial-pr-IIPR/stock-news/82637503/innovative-industrial-properties-acquires-pennsylv
Declining Stock and Decent Financials: Is The Market Wrong About Innovative Industrial Properties, Inc. (NYSE:IIPR)?
Innovative Industrial Properties (NYSE:IIPR) has had a rough three months with its share price down 14%. But if you... Read more…
I don’t think you understand the business model. Also, you can’t compare mortgages to sale-leasebacks.
How’s it any different that when the Mortage companies sold falsely inflated valued homes mortgages?
U watch what happens
Don’t be so sure about that
Most I read in that article was true and spot on.
Grizzly was proven a fraud by Trulieve. They are scammers and shorters with nefarious tactics and motives. They are not to be taken seriously. Totally de-legitimized...
That Grizz report contains numerous false and misleading statements about IIP. It's not a ponzi, it's a REIT, and the numbers look great!
Be much more concerned about the Ponzi Scheme being exposed by Grizzle. Everyone knew inside the industry this was set up to fail.
YOLO the “actively managed” Cannabis ETF has added more IIPR to their portfolio... Don’t believe the Grizzly “hit piece” article. Their credibility was crushed when they went after Trulieve and were proven to be corrupt short sellers...
Watch this update from Dan Ahrens on #cannabisinvesting #potstocks $YOLO holdings and more information at https://t.co/nPR6kxiKyN pic.twitter.com/2f4Xuv0gw4
— AdvisorShares (@AdvisorShares) April 9, 2020
People need their meds, dispensaried will stay open. Parking lots are full and people lined up outside. Free delivery too. Quarantine has people buying more MJ.
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