Is Innovative Industrial Properties (IIPR) a Great Cannabis Stock to Buy During This Volatility?

Just a week ago in our most recent article about Innovative Industrial Properties, we said that at $40 per share, we believed that shares were attractive. Fast forward 7 days later and the stock has doubled, currently trading at…


Now, we are still very cautious when it comes to the current economic environment we are in, but we feel that the companies, like IIPR, who have solid fundamentals are the ones that investors should be looking at.

Now let’s face it when the market plunges like it did last week, it’s pretty easy to get scared. Emotional investors see heavy losses and become reluctant to purchase good companies when they see massive sell-offs.

What makes a good investor good, is the ability to ignore the chatter and emotions while still carrying out your long term approach. During this market volatility, a lot of opportunities are created in some of the greatest companies.

Even after this rebound, we still believe that there are still a lot of reasons to like IIPR.

The first reason is because of their dividend yield. As growth concerns intensify, many investors will start to put more emphasis on companies that pay dividends as opposed to just offering a growth opportunity.

Despite the recent bounce in share price, IIPR still offers a very healthy 4% dividend yield at current prices. This yield easily outpaces many of the consumer staples and utility companies and also offers a growth opportunity when it comes to the cannabis market. We have always been a big fan of IIPR due to the income aspect they can offer as they will inevitably attract a wider base of investors, especially during these tough times.

To continue to build the bullish case for IIPR, the fact that the company specifically targets the medical cannabis market as opposed to the recreational market we feel is a huge benefit. Carrying a high yield is one thing, but sustainability of a company’s dividend is another story.

Medical cannabis revenues tend to be much more…

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