Innovative Industrial Properties
Innovative Industrial Properties (IIPR) is unlike other cannabis stocks because it focuses on real estate related to the cannabis business. The stock is an opportunity for investors that want to participate in the cannabis industry (HMMJ) but don’t like the volatility. Innovative Industrial Properties’ volatility, which can be measured by a company’s beta, was 0.46. The company’s volatility was lower than the market volatility of one. Canopy Growth (WEED) had a beta of 3.9, Kushco Holdings (KSHB) had a beta of 1.7, and Aurora Cannabis (ACB) had a beta of 4.9.
In February, analysts’ consensus recommendation for Innovative Industrial Properties was a “strong buy.” The overall recommendation month-over-month remained unchanged from January.
Among the three analysts, all of them recommended a “strong buy.” None of the analysts recommended a “buy,” “hold,” or “sell” on the stock. With just three analysts covering the stock, investors should use the ratings and target price with caution.
In February, the consensus target price for Innovative Industrial Properties was $63.8. The consensus target price was higher compared to $59.8 in January. The target price is for the next 12-month period. As of March 1, the stock closed at $78, which was already higher than the consensus.