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Is Innovative Industrial Properties Stock a Buy?

TheMotleyFool

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Is Innovative Industrial Properties Stock a Buy?Photo, wide shot, wide-angle lens, Metal fabrication, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Hiroshi Sugimoto: https://img.midjourneyapi.xyz/temp/568784d0-c41a-4663-ab01-91f29a370903.png

Unlike much of the rest of the marijuana industry, Innovative Industrial Properties (NYSE: IIPR), a cannabis-focused real estate investment trust (REIT), has actually had a very good year. Shares of the REIT are up 43% year-to-date, compared to a 50% or so decline for the Horizons Marijuana Life Sciences ETF and a 27% gain for the S&P 500.

Where the stalled momentum of federal marijuana legalization has caused the market to beat down cannabis stocks, that's arguably helped lift Innovative Industrial Properties, along with the strength of its business.

Image source: Getty Images.

Source Fool.com

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