IIPR stock news

Innovative Industrial Properties, Inc. (NYSE: IIPR ) said Wednesday it has finalized the acquisition of a property in Richmond, Virginia, which should account for 82,000 sq. feet of industrial space. The purchase price for the property was set to around $11.8 million without transaction expenses. In addition, the company signed a long term, triple-net lease agreement with a Green Leaf Medical subsidiary, which should run the property as a licensed cannabis cultivation, processing and dispensing facility. Innovative Industrial Properties will also grant compensations for the completion of the property’s development in the amount of up to $8 million. With full compensation, the company’s investment in … Full story available on Benzinga.com Read more
While cannabis investors lost a lot of wealth last year, one stock continued to deliver staggering returns—Innovative Industrial Properties (IIPR). Read more
Innovative Industrial Properties, Inc. (NYSE: IIPR ) said Tuesday it has hired Mary Allis Curran to its board of directors. Curran has 25 years of professional experience at MUFG Union Bank, N.A., where she occupied various executive-level roles, such as Executive Vice President and Head of the Private Bank at Union Bank. During her time at Union Bank, she helped boost the performance of Union Bank’s Wealth Management. At the moment, Curran is also on the Board of Directors, Audit Committee, and Enterprise Risk Committee of Banc of California, … Full story available on Benzinga.com Read more
2019 has been an extremely tough year for the cannabis sector. We have seen the strongest and longest pullback in its entire history. Luckily for a select few companies, their businesses have continued to flourish and 2020 is looking even… Read more › Read more
Innovative Industrial Properties, Inc . (NYSE: IIPR ) said Monday it finalized two sale-leaseback transactions with GR Companies Inc. subsidiaries for two properties in Pennsylvania and North Dakota. These two properties combined cover around 105,000 sq. feet of industrial space, and the purchase price was set to around $24.1 million in total. At the same time, Innovative Industrial Properties signed a long-term, triple-net lease agreement for each property with Grassroots subsidiary, which would persist to run the properties as cannabis cultivation and processing facilities. Grassroots should finish additional tenant improvements for the properties, such as 35,000 sq. foot renovation at the … Full story available on Benzinga.com Read more
The Zacks Analyst Blog Highlights: Innovative Industrial Properties, Aphria, Square and GW Pharmaceuticals Read more
Gainers Columbia Care (OTC: CCHWF ) shares increased by 4.11% to close at $2.28. Innovative Industrial (NYSE: IIPR ) shares rose 0.39%, to close at $77.71. Akerna (NASDAQ: KERN ) shares rose 21.45%, to close at $9.06. KushCo Holdings (OTC: KSHB ) shares rose 0.56%, to close at $1.78. Supreme Cannabis Co (OTC: SPRWF ) shares rose 0.35%, to close at $0.51. Trulieve Cannabis (OTC: TCNNF ) shares gained 1.63%, closing at $13.13. Losers Aurora Cannabis (NYSE: ACB ) shares dropped by 2.4%, to close at $2.44. Aphria (NYSE: APHA ) shares dropped by 2.0%, to close at $4.64 amid news of securing an additional $80 million in financing . Canopy Growth (NYSE: CGC ) shares tumbled by 2.47%, eventually closing at $18.13. Cresco Labs (OTC: CRLBF ) shares dropped by 3.44%, to close at $5.33. Cronos Group (NASDAQ: CRON ) shares fell 5.11% to close at $6.50. CannTrust Holdings (NYSE: Full story available on Benzinga.com Read more
The vertically integrated cannabis company Cresco Labs (CSE: CL) (OTC: CRLBF ) reported Tuesday that it has entered a binding agreement for the sale-and-leaseback of two properties for total non-dilutive funding of around $38 million. One property, Yellow Springs, is located in Ohio, and the other is in Marshall, Michigan. The company will sell these properties to Innovative Industrial Properties, Inc. (NYSE: IIPR ). In addition, Cresco Labs also disclosed the termination of the equity purchase agreement under which its subsidiary would have obtained the ownership interests of the assets of the medical cannabis … Full story available on Benzinga.com Read more
Gainers Canopy Growth (NYSE: CGC ) shares gained 0.05%, closing at $18.42. Cresco Labs (OTC: CRLBF ) shares gained 0.7%, closing at $5.75. CannTrust Holdings (NYSE: CTST ) shares rose 0.71%, to close at $0.91. HEXO (NYSE: HEXO ) shares rose 1.86%, to close at $2.19. Innovative Industrial (NYSE: IIPR ) shares increased by 0.05% to close at $77.97. Planet 13 Holdings (OTC: PLNHF ) shares rose 1.16%, to close at $1.75. Pyxus International (NYSE: PYX ) shares rose 6.03%, to close at $8.44. Therapix Biosciences (NASDAQ: TRPX ) shares gained 3.18%, closing at $1.62. Zynerba Pharmaceuticals (NASDAQ: ZYNE ) shares increased by 3.8% to close at $6.55. Losers Aurora Cannabis (NYSE: ACB ) shares fell 6.67% to close at $2.52. Aphria (NYSE: APHA ) shares fell 2.25% to close at $4.57. Columbia … Full story available on Benzinga.com Read more
Gainers Greenlane Holdings (NASDAQ: GNLN ) shares gained 1.19% , closing at $3.40 . Innovative Industrial (NYSE: IIPR ) shares gained 0.7% , closing at $82.55 . Akerna (NASDAQ: KERN ) shares rose 5.56% , to close at $3.80 . Alcanna (OTC: LQSIF ) shares increased by 4.1% to close at $3.35 . MedMen Enterprises (OTC: MMNFF ) shares rose 0.46% , to close at $1.02 . Losers Aurora Cannabis (NYSE: ACB ) shares dropped by 7.04% , to close at $3.30 . Aphria (NYSE: APHA ) shares fell 1.12% to close at $4.41 . Columbia Care (OTC: CCHWF ) shares dropped by 6.98% , to close at $2.72 . Canopy Growth (NYSE: CGC ) shares dropped by 14.43% , to close at $15.83 after missing revenue and EPS estimates . Cresco Labs (OTC: CRLBF ) shares tumbled by 6.59% , eventually closing at $5.53 . Cronos Group (NASDAQ: CRON ) shares tumbled by 6.06% , eventually closing at $6.82 . CannTrust Holdings (NYSE: … Full story available on Benzinga.com Read more
Gainers Columbia Care (OTC: CCHWF ) shares gained 0.58%, closing at $2.93. Greenlane Holdings (NASDAQ: GNLN ) shares rose 1.2%, to close at $3.36. GW Pharmaceuticals (NASDAQ: GWPH ) shares gained 1.49%, closing at $111.03 after announcing its recommendation for NHS to cover prescriptions . Innovative Industrial (NYSE: IIPR ) shares rose 2.4%, to close at $81.95 amid the closure of its sale-leaseback transaction with Green Thumb Industries . Therapix Biosciences (NASDAQ: TRPX ) shares gained 19.44%, closing at $1.72. Valens Groworks (OTC: VGWCF ) shares rose 4.07%, to close at $2.41. Losers Aurora Cannabis (NYSE: ACB ) shares fell 0.56% to close at $3.55. Aphria (NYSE: APHA ) shares dropped by 6.11%, to close at $4.46. Canopy Growth (NYSE: CGC ) shares dropped by 3.9%, to close at $18.50. Cresco Labs (OTC: CRLBF ) shares tumbled by 6.19%, eventually closing … Full story available on Benzinga.com Read more
The cannabis REIT Innovative Industrial Properties, Inc . (NYSE: IIPR ) said Tuesday it has closed on a sale-leaseback transaction with Green Thumb Industries Inc. (CSE: GTII) (OTC: GTBIF ) for its Pennsylvania facility. Innovative Industrial Properties will buy the Danville facility for $20.3 million less transaction expenses. The REIT will reimuburse Green Thumb in the amount of up to $19.3 million for certain enhancements of the property to be made by GTI for the purpose of increasing production capacity. With full reimbursement, the company’s total investment in the property will reach $39.6 million, according to Tuesday's announcement. “GTI has distinguished itself … Full story available on Benzinga.com Read more
Expansion of Pennsylvania portfolio and lease with subsidiary of Green Thumb Industries to help Innovative Industrial (IIPR) bank on the favorable trends as well as drive top-line growth. Read more
Gainers Aurora Cannabis (NYSE: ACB ) shares gained 6.31% , closing at $3.81 . Aphria (NYSE: APHA ) shares gained 5.19% , closing at $5.07 . Canopy Growth (NYSE: CGC ) shares increased by 12.53% to close at $21.47 . Cresco Labs (OTC: CRLBF ) shares increased by 0.07% to close at $6.50 . Cronos Group (NASDAQ: CRON ) shares gained 7.44% , closing at $8.52 . CannTrust Holdings (NYSE: CTST ) shares gained 1.46% , closing at $1.04 . Fire & Flower Holdings (OTC: FFLWF ) shares increased by 3.08% to close at $0.75 . GW Pharmaceuticals (NASDAQ: GWPH ) shares gained 0.34% , closing at $109.41 . HEXO (NYSE: HEXO ) shares gained 6.25% , closing at $2.35 . Harvest Health (OTC: HRVSF ) shares gained 12.66% , closing at $2.82 . Innovative Industrial (NYSE: IIPR ) shares rose 6.74% , to close at $85.21 . Akerna (NASDAQ: KERN ) shares rose 0.47% , to close at $4.24 . KushCo Holdings (OTC: KSHB ) shares rose 11.59% , to close at $1.83, … Full story available on Benzinga.com Read more
Welcome to Cultivated, our weekly newsletter where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global cannabis boom. Sign up here to get it in your inbox every week . Happy Friday everyone, The only constant in cannabis right now is that things move quickly — and what a week it's been. There was a slew of earnings this week, including Kush Bottles, a maker of cannabis packaging, and Innovative Industrial Properties (IIPR), a cannabis-focused real estate investment trust, or REIT. Their earnings were two bright spots among a backdrop of slumping cannabis stocks, many of which have lost over 50% this year. IIPR operates on a sale-leaseback model, which in turn, helps cash-starved cannabis companies with capital. That's a good business to be in right now — the stock gained over 10% after it reported Q3 earnings on Wednesday, and continues to climb. For Kush Bottles, Cowen analyst Vivien Azer maintained her outperform rating, citing the company's 186% revenue growth and growing CBD business. Read more

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