Summary: Innovative Industrial Properties, a real estate investment trust (REIT) for the regulated cannabis industry, is traded on the New York Stock Exchange under the ticker IIPR. To invest in the cannabis market and buy Innovative Industrial Properties stock, we recommend registering with a trustworthy online trading platform such as eToro.
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About Innovative Industrial Properties
Note
The company primarily acquires freestanding industrial and retail spaces, leasing them under long-term agreements to cannabis operators who have secured state licenses. Moreover, as of early 2024, Innovative Industrial Properties oversees an investment capital of $2.39 billion, spanning 108 properties totaling 8,851,000 square feet across 19 states.
The company is publicly traded on the New York Stock Exchange (NYSE) under the stock ticker IIPR.
How to buy Innovative Industrial Properties stock? Step-by-step process
Step 1: Select a broker
The broker you choose will shape your investment experience, influencing everything from fees to available tools. That said, navigating the vast selection of online brokers can be daunting, with so many competing for your attention.
For those uncertain about where to begin, eToro comes highly recommended. Boasting a user-friendly interface, a wide array of assets, and credentials from necessary regulatory bodies, eToro distinguishes itself in the bustling online brokerage arena. Catering to both beginners and seasoned traders, eToro provides features tailored to every investor’s experience level, such as:
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- Innovative features like Smart Portfolio and Copy Trading;
- User-friendly platform.
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While Innovative Industrial Properties is making waves in the industrial REIT space, there are other notable REITs in this sector to consider:
- Rexford Industrial Realty (NYSE: REXR);
- Stag Industrial (NYSE: STAG);
- Prologis (NYSE: PLD);
- Terreno Realty (NYSE: TRNO).
Additionally, for those wanting to diversify across REITs, consider exploring these subcategories:
- Hotel REITs;
- Data center REITs;
- Self-storage REITs;
- Office REITs;
- Farmland REITs;
- Apartment REITs;
- High-dividend REITs.
Note
Step 2: Open and fund your account
Once you’ve chosen a brokerage, the next step is to open and fund your account. Start by completing the broker’s online application and submitting the required identification documents. Note that approval times can range from a few hours to several days.
After verification, you can deposit funds using options provided by your broker, whether bank transfers, credit/debit cards, or platforms like PayPal. Ensure you’re informed about any associated fees and transfer times so you can plan your initial investments accordingly.
Step 3: Execute your order and invest in IIPR
To buy Innovative Industrial Properties stock, consider the following steps:
- Search for it using the IIPR ticker;
- Decide on your order type (market or limit);
- Settle on your investment amount in terms of shares or dollar value;
- Lastly, review your order and finalize the transaction.
Step 4: Monitor your investment
Finally, you should monitor your investment after you buy Industrial Properties stock. Hence, here are some of the ways you can monitor your investment in Innovative Industrial Properties:
- Earnings reports: Regularly review quarterly and annual financial statements;
- Company announcements: Stay updated on any significant news or strategic decisions;
- Dividend updates: Check for any changes in dividend payouts or schedules;
- Industry news: Monitor trends and developments in the regulated cannabis and REIT sectors;
- Stock price: Track daily stock price movements and overall performance;
- Analyst ratings: Keep an eye on recommendations and projections from financial analysts;
- Regulatory environment: Stay informed on any changes in cannabis regulations that might affect operations;
- Comparative analysis: Additionally, you should compare IIPR’s performance with other similar REITs and industry benchmarks.
IIPR stock price today
Pros and cons of buying Innovative Industrial Properties stock
Pros
- Growth potential: The cannabis industry is relatively young, and as more states and countries consider legalization, there is considerable room for expansion;
- Unique niche: IIPR operates in a specialized niche within the REIT sector, focusing on the regulated cannabis industry, which sets it apart from many other REITs;
- Stable income: Being a REIT, IIPR offers regular dividend payments to its shareholders;
- Sale-leaseback program: IIPR’s model of purchasing properties and then leasing them back to the sellers can provide a stable and predictable revenue stream.
Cons
- Regulatory risks: The cannabis industry faces significant regulatory challenges. Changes in regulations or federal law can impact the profitability of tenants and, by extension, IIPR;
- Market volatility: The cannabis sector is still maturing, making it susceptible to price swings and market sentiment changes;
- Competition: As the cannabis industry grows, other REITs might venture into this space, increasing competition for properties and tenants;
- Dependency on a single industry: IIPR’s focus on the cannabis industry means it does not have the diversification benefits that other, more varied REITs might offer.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about buying Innovative Industrial Properties stock
Where is Innovative Industrial Properties' stock listed?
Innovative Industrial Properties’ stock is listed on the NYSE under the ticker IIPR.
How can I invest in Innovative Industrial Properties stock?
To buy Innovative Industrial Properties stock, go throug the following steps:
- Choose a reputable broker, such as eToro;
- Fund your account;
- Locate Innovative Industrial Properties using the IIPR ticker;
- Decide your investment amount and order type;
- Finally, complete your transaction.
Does Innovative Industrial Properties distribute dividends?
Yes, IIPR consistently provides dividends in alignment with REIT standards.
Highly Rated Stock Trading & Investing Platform
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Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
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eToro USA is registered with FINRA for securities trading.
