Innovative Industrial Properties Inc (IIPR)

[Monksdream]

The one cannabis property this outfit owns in New York ain't doing too well. This from Marijuana Business Daily:

New York’s nearly 13,000 medical cannabis patients apparently aren’t enthusiastic about their purchase options at the state’s dispensaries.
The first New York dispensary opened over a year ago, in January 2016, but only 10,250 patients have made a purchase and just 6,403 have been repeat buyers, Politico reported Friday.
The figures don’t portend a profitable future for New York’s MMJ businesses unless some dramatic changes are made to the program.
One of the five New York licensees, PharmaCann, told Politico it’s using only 8%-10% of its production capacity because it hasn’t had enough patient demand to maximize its capabilities. At this point, the company is seeing only about 250-300 patients per month, Politico reported