Innovative Industrial Properties continues to beat expectations

33 0

The real estate investment trust focused on the cannabis industry is going to be strong well into the future

This is a month full of activity as the cannabis companies are presenting one by one of their figures for the last fiscal quarter. The industry is certainly on a recovery path and, while some companies are doing better than others, there are some companies that are exceeding expectations. That is the case of Innovative Industrial Properties (IIP), a cannabis company that acts as a real estate investment trust to acquire cannabis-related properties. On February 26, before the market closes, IIP will present the numbers not only for the fourth quarter, but the full 2019-year results, and expectations are high.

Even though the figures have not been shared yet, the company seems to be having great performance and, so far, the stock has recovered an impressive 68%. This increase occurred in a one-year period that ended on February 14. This is very different from the situation with the cannabis producers and distributors that, in the same period, experienced drops for over 50%. Based on the projections, IIP is expected to have a significant increase in its stock. This year alone, the company has recovered 30.4% of its stock value – almost half of the total recovery – that, alongside a lofty valuation, that will launch a rapid growth.

Considering what happened after the company released its third-quarter results, more positive behavior is expected. According to Wall Street’s forecasts, a $14.37 million revenue was estimated for growth of more than 200%, based on the company’s recent acquisitions. When the third-quarter results were announced, the stock’s value increased by 10%, and investors are expecting to see a repeat after this next quarter figures are published.