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If you added cannabis-focused real estate investment trust – Innovative Industrial Properties IIPR about a year ago, you’d be enjoying solid returns.
IIP is the first publicly traded company on the New York Stock Exchange to provide real estate capital to the regulated cannabis industry. Since its launch nearly eight years ago it has improved its sale-leaseback program to include cultivation, processing and retail properties with carefully chosen tenants that are licensed operators under long-term, triple-net leases.
Over the last 12 months, IIP’s stock has outperformed some of the most popular stocks in the world, such as Tesla TSLA, Apple AAPL, Citigroup C and Zillow Group ZG.
What’s more, marijuana REIT has been paying consecutive quarterly dividends to its common stockholders since the second quarter of 2017.
What is the best way for publicly traded marijuana companies to thrive and how to access capital amid challenging industry conditions will be one of many vital topics at the upcoming Benzinga Cannabis Capital Conference next week.
The San Diego, California-headquartered company has a market cap of $2.77 billion. Among its lessees are some of the largest cannabis operators like Curaleaf CURLF PharmaCann,CRLBF, The Cannabist Company CBSTF, Green Thumb Industries GTBIF, Holistic Industries, 4Front Ventures FFNTF, Parallel, and Ascend Wellness Holdings AAWH.
As of December 31, 2023, IIP owns 108 properties comprising an aggregate
