Will This Marijuana Stock Soar Again Following the Company's Earnings Release?
Innovative Industrial Properties (NYSE: IIPR), a cannabis industry-focused real estate investment trust (REIT), is slated to report its fourth-quarter and full-year 2019 results after the market closes on Wednesday, Feb. 26.
Despite pulling back since peaking in mid-2019, the company's stock has returned a whopping 68.8% over the one-year period through Friday, Feb. 14. For context, over this same period, the S&P 500 has returned 25.6%, while shares of Canopy Growth, Cronos, and Aurora Cannabis -- the three largest Canadian marijuana growers by market cap -- have dropped 52%, 64.8%, and 77.8%, respectively.
Given Innovative Industrial Properties stock's robust recent performance (it's returned 30.4% in 2020 through Friday, versus the broader market's nearly 5% return) and lofty valuation (its price-to-earnings ratio is 68.5), investors will be expecting the company to continue to deliver rapid growth on both the top and bottom lines.
Source Fool.com
