This Pot Stock (and Its Dividends) Could Double Your Money

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Innovative Industrial Properties (NYSE: IIPR), a real estate investment trust (REIT), presents a non-conventional way of investing in the marijuana industry. It acquires properties and then leases them out to medical cannabis companies in the U.S.  This stock is especially intriguing to investors who want to be part of the marijuana boom, but might hesitate due to the illegal status of the drug in the U.S. 

The fact that Innovative Industrial is only indirectly linked to the marijuana sector has advantages. The stock is relatively safe from sector volatility, and the illegal status of the drug doesn’t affect the company’s ability to procure capital. Innovative is in a very strong financial position and has been growing its revenue at a rapid rate. Its recent fourth-quarter results were proof of that. Over the past 12 months, Innovative’s stock has surged 141%, outperforming the industry benchmark Horizons Marijuana Life Sciences ETF‘s gain of 105%.

Image source: Getty Images.

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