5 Cheap REITs with Huge Upside

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1. Innovative Industrial Properties, Inc. (NYSE:IIPR)

Number of Hedge Fund Holders: 14

Average Upside Potential Based on Analyst Ratings: 86.26% 

Average Analyst Price Target: $138.80

Innovative Industrial Properties, Inc. (NYSE:IIPR) is a company based in Maryland that specializes in acquiring, owning, and managing properties that are leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. The company has chosen to be taxed as a real estate investment trust since the year ended December 31, 2017. On March 15, Innovative Industrial Properties, Inc. (NYSE:IIPR) declared a $1.80 per share quarterly dividend, in line with previous. The dividend is payable on April 14, to shareholders of record on March 31. 

On March 1, Eric Des Lauriers, an analyst at Craig-Hallum, decreased the company’s price target for Innovative Industrial Properties, Inc. (NYSE:IIPR) from $140 to $125 due to challenges the company is currently facing, including an influx of committed capital that has exceeded initial expectations. Despite this, the analyst still maintained a Buy rating on the shares.

According to Insider Monkey’s fourth quarter database, 14 hedge funds were long Innovative Industrial Properties, Inc. (NYSE:IIPR), compared to 12 funds in the prior quarter. Stuart J. Zimmer’s Zimmer Partners is the largest stakeholder of the company, with 2.4 million shares worth $247.7 million. 

Follow Innovative Industrial Properties Inc (NYSE:IIPR)

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