Innovative Industrial: Forget The 16.5% Yield, Get The 9.7%-Yielding Preferreds

Core Insights - Innovative Industrial Properties (IIPR) is a cannabis REIT that is diversifying into life sciences investments, currently offering a dividend yield of 16.5% and trading below its intrinsic value [1] Group 1: Company Overview - IIPR is a cannabis-focused real estate investment trust (REIT) that is expanding its portfolio to include life sciences investments [1] - The company has been monitored for several years, indicating a long-term interest in its performance and potential [1] Group 2: Investment Strategy - The investment approach focuses on GARP (growth at a reasonable price) stocks while also seeking opportunities in other areas [1] - The investment horizon is flexible, with a strategy to hold stocks as long as the investment thesis remains valid [1] Group 3: Analytical Background - The analyst has developed market-beating algorithms using Python to identify attractive investment opportunities [1] - Previous experience includes working at TipRanks as an analysis/news writer and editor, enhancing the ability to discern market trends and investor interests [1]