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Stock impact report

Innovative Industrial Properties: Preferred Shares Offering Attractive 8.5% Dividend Yield [Seeking Alpha]

Innovative Industrial Properties, Inc. (IIPR) 
Company Research Source: Seeking Alpha
Follow Play 6min Summary Innovative Industrial Properties is a REIT focused on leasing properties to the cannabis industry, with preferred shares offering an 8.5% dividend yield. The company improved operating cash flow to $136 million and free cash flow to $122 million, ensuring dividend sustainability. With over $200 million in liquidity, the capital improvement allowance is manageable, but call risk on preferred shares and potential common share issuance pose risks. filo Introduction Innovative Industrial Properties ( NYSE: IIPR ) is a real estate investment trust (REIT) that focuses on the leasing of properties to support the cannabis industry. Back in late 2022, a situation emerged where the company's debt maturing in 2026 was trading at a higher yield than its preferred shares ( NYSE: IIPR.PR.A ). Today, the bond price is a bit higher, but still yielding a respectable 7.7 . However, a recent sell-off in the preferred shares has the dividend yield rising to ove Show less Read more
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