Is Innovative Industrial Properties the Dividend Growth Stock for You?
Innovative Industrial Properties (NYSE: IIPR) offers a rather modest 2.9% dividend yield. However, that's not the real attraction when it comes to this unique real estate investment trust (REIT). Here's why dividend growth investors will find this industrial REIT very interesting, and why some might want to take a pass anyway.
Innovative Industrial Properties came public in late 2016. It bought its first property shortly after its IPO and started paying dividends in mid 2017. The first dividend was set at $0.15 per share per quarter. That has been increased 11 times since then, and at the midpoint of 2021 sits at $1.40 per share. That's an increase of 780% in roughly three years.
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Source Fool.com
