5 Growing Dividend Stocks with Low PE Ratios

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

5-Year Average Annual Revenue Growth Rate: 96.94%
Forward P/E Ratio as of August 11: 13.8

Innovative Industrial Properties, Inc. (NYSE:IIPR) is an American real estate investment trust company that focuses on the medical cannabis industry. The company’s main business is acquiring and managing properties that are used for cultivating and processing medical cannabis.

Innovative Industrial Properties, Inc. (NYSE:IIPR) is one of the best dividend stocks on our list as it has raised its dividends each year since 2017. It currently pays a quarterly dividend of $1.80 per share and has a dividend yield of 8.75%, as recorded on August 11.

Of the 943 hedge funds in Insider Monkey’s database at the end of Q1 2023, 15 hedge funds held stakes in Innovative Industrial Properties, Inc. (NYSE:IIPR), up from 14 in the previous quarter. The collective value of these stakes is over $195 million.

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