1 Smart Reason to Buy This Growth Stock Today
Real estate investment trusts (REITs) usually cater to slow and steady income investors, but not Innovative Industrial Properties (NYSE: IIPR). This unique REIT is growing so fast it's almost shocking. Here's why that's the case, and why dividend growth investors will want to own the stock, even though it trades at a premium price.
The big-picture story at Innovative Industrial Properties is that it owns the facilities in which marijuana is grown, processed, and sold. It is a relatively new industry, and one that is growing very quickly. Regulated marijuana sales increased by more than 50% in 2020, and the company expects sales to more than double by 2025. That's a really great backdrop for this REIT to keep expanding its portfolio.
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Source Fool.com