Is Innovative Industrial Properties (IIPR) One of the Safest REIT Dividend Stocks?

Core Insights - Innovative Industrial Properties, Inc. (IIPR) is recognized as one of the best REIT dividend stocks to buy currently [1] - The company specializes in acquiring and managing cannabis-related facilities, with a portfolio of 108 properties across 19 states [2] - IIPR's income is primarily generated from long-term triple-net leases, ensuring consistent cash flow as tenants cover property taxes, insurance, and maintenance [3] Financial Performance - IIPR has a strong dividend history, having announced its eighth consecutive year of dividend growth in June 2024, with a current quarterly dividend of $1.90 per share [5] - The company offers an attractive dividend yield of 13.75% as of October 1 [5] Operational Considerations - The success of IIPR is contingent on selecting reliable tenants in a highly regulated industry, which faces ongoing legal reforms [4] - Key operational priorities include managing tenant concentration risk, navigating regulatory challenges, and maintaining financial flexibility [4]