While publicly-traded Innovative Industrial Properties wasn't the first Real Estate Investment Trust (REIT) focused on the cannabis industry, it was the first to go public and remains the only one at this time. The company conducted an IPO in late November 2017 at $20 per share and listed on the New York Stock Exchange with the symbol "IIPR", and it traded below that price for more than a year. The IPO itself, while not particularly successful given that the company fell far short of its goals, was truly a milestone for the cannabis industry, and, fifteen months later, IIPR looks to be on track to grow its portfolio of cannabis cultivation and production properties.
Read more at Forbes.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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