This Pick From November Is Still Going Up
Innovative Industrial Properties is a great buy on every single dip.
Back on November 30, I posted a Trade of the Day titled, “Ever Heard of a Cannabis REIT?”
In it, I told you about a little-known company called Innovative Industrial Properties (NYSE: IIPR).
Based in California, Innovative Industrial Properties is a real estate investment trust (REIT) that purchases medical cannabis growing facilities and leases them back to state-licensed, medical-use cannabis growers.
Since it operates as a REIT, Innovative Industrial Properties is required to pay a majority of its earnings to shareholders in the form of a dividend to avoid normal corporate income taxation.
So the company gets all the benefits of explosive cannabis growth – all in one of the most tax-friendly investment environments possible. I call Innovative Industrial Properties a cannabis landlord – and its business is booming. The company’s property portfolio has already doubled in size in less than a year.
Back in late November, my conclusion was simple…
When it comes to investments, two things are clear. One, Wall Street loves growth – and is willing to pay a large premium for it. Two, in the recent market environment, Wall Street also loves cannabis stocks. Combine those factors, and Innovative Industrial Properties is a position you should consider adding to your speculative small cap portfolio.
When I originally made this call, the company was trading around $50 per share.
And now look at the chart today…
Action Plan: We’ve already hit a big 81% winner playing Innovative Industrial Properties in The War Room beta. And based on this chart, we have no reason to stop playing the company anytime soon. I remain comfortable telling you to continue buying on any intraday dip – which we’ll highlight in The War Room beta!