The company is by far the most significant REIT specializing in the marijuana industry.
The marijuana industry is not currently popular with investors, to put it mildly. That's having a knock-on effect with cannabis real estate investment trust (REIT) Innovative Industrial Properties (NYSE:IIPR). Despite being a consistently profitable company that doesn't actually grow or sell any weed itself, Innovative is being punished like its peers; its share price is down by over 15% so far this young year.
A submerged stock price doesn't necessarily mean a company is a bargain, however. Let's explore whether Innovative stock is a good buy or a dangerous falling knife investors should avoid.
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