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Innovative Industrials Properties IIPR Continuation and Bullish Follow Through

We’ve been trading Innovative Industrials Properties (IIPR) as the stock exhibits relative strength, while the markets print a weak tape.

Innovative Industrial Properties, Inc. is the pioneering real estate investment trust capitalizing on the medical-use cannabis industry. Founded in December 2016, IIPR is the first publicly traded company on the New York Stock Exchange (NYSE: IIPR) to provide real estate capital to the medical-use cannabis industry group.

IIPR – MarketSmith Metrics

Technically speaking, the stock is rising along its 20d moving average. It closed 5% above its breakout zone $49.84 (+0.10) above its pivot high for the year. Annual sales in the left panel of the chart below show a projected double for 2019. The RS line is rising, perched at 99 yo end the week.


Innovative Properties IIPR 12-17-2018

The tremendous momentum of state legalization of medical-use cannabis in the United States has led to a transformation in the way patients can obtain treatment for a wide spectrum of medical conditions in a safe, reliable and compassionate environment, giving hope to millions.  Our focus is to partner with well-capitalized, experienced medical-use cannabis growers in states with a robust medical-use regulatory environment. Our acquisition strategy is to act as a source of capital to these licensed medical-use cannabis growers by acquiring and leasing back their real estate locations. By selling the real estate to us, and then leasing it back, growers have the opportunity to redeploy the proceeds into their company’s core operations allowing them to focus their resources on reaching as many patients as possible in need of treatment.

In 1996, voters made California the first state in the United States to allow for medical-use cannabis.  Over the next twenty years, medical-use cannabis programs have been adopted by over half of the United States, where over 200 million people reside.  As of December 31, 2017, 29 states, plus the District of Columbia, have adopted medical-use cannabis programs.  This wave of adoption by states of medical-use cannabis programs has been driven by the rapidly evolving, overwhelming acceptance of Americans for medical-use cannabis as an alternative form of treatment for patients.  In fact, according to a 2017 poll conducted by Quinnipiac University, 94% of those surveyed support adults being able to use medical cannabis, if recommended by a doctor.

According to The ArcView Group, sales of legal cannabis in North America are expected to grow from $6.8 billion in 2016 to $24.5 billion in 2021, representing a 28% compound annual growth rate. States have authorized numerous medical conditions as qualifying conditions for treatment with medical-use cannabis, which may include, among others, treatment for cancer, glaucoma, HIV/AIDs, wasting syndrome, pain, nausea, seizures, muscle spasms, multiple sclerosis, post-traumatic stress disorder (PTSD), migraines, arthritis, Parkinson’s disease, Alzheimer’s, lupus, residual limb pain, spinal cord injuries, inflammatory bowel disease and terminal illness.  The Marijuana Policy Project estimates that, as of February 2018, an estimated 2.5 million people were registered as patients in states with regulated medical-use cannabis programs.  

The medical-use cannabis industry is positioned to continue significant growth in coming years. 

The above is from IIPR website.

Add this stock to your watchlist. We intend adding shares to our portfolio in the weeks ahead.

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