How Fear Is Boosting Innovative Industrial Properties' Upside
Portfolio Pulse from
Innovative Industrial Properties (IIPR) has seen its stock price drop by nearly 50%, presenting a potential opportunity for value investors. Despite defaults on 16.5% of its annual base rent, the company offers a high dividend yield of 10.8% and potential for quick re-leasing in high-growth states like New York. IIPR is trading at 8x price to adjusted funds from operations, which is significantly below its historical levels.
December 27, 2024 | 5:00 pm
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Innovative Industrial Properties (IIPR) is down nearly 50%, offering a 10.8% dividend yield. Despite defaults on 16.5% of ABR, high-growth states like New York provide re-leasing potential. Trading at 8x P/AFFO, it's attractive for value investors.
IIPR's significant price drop and high dividend yield make it attractive to value investors. The potential for quick re-leasing in high-growth states like New York offsets concerns about defaults. Trading at a low P/AFFO ratio further enhances its appeal.
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