IIPR Innovative Industrial Properties, is NYSE-listed, a REIT yielding a 3.6% dividend right now, owns 5 properties that it leases back to licensed medical cannabis producers in the U.S., triple net leases with 15% cap rate on average. Just announced its quarterly dividend of 25 cts/share, or $1.00/share for the year. Just raised $83M in January, 2018 at secondary offering of $26/share. Will use proceeds to buy/lease-back more stand-alone properties related to medical marijuana use. The chairman of IIPR sold his prior company, a biotech/life science R.E. company, to Blackrock for $8 billion, in 2015. Might be a sleeper.
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