Trump's Marijuana Support Could Ignite Stock Surge – Are You Positioned To Benefit?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 05 2024
0mins
Source: Benzinga
Trump's Support for Cannabis Legalization: Former President Donald Trump expressed support for cannabis legalization in Florida during a podcast, highlighting the importance of a lawful and regulated framework as the state prepares for a ballot initiative in November.
Market Reactions to Trump's Comments: Following Trump's remarks, cannabis stocks showed mixed reactions, with some companies like AdvisorShares Pure Cannabis ETF gaining while others like Trees Corporation faced significant declines.
Analyst Views on IIPR
Wall Street analysts forecast IIPR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IIPR is 61.33 USD with a low forecast of 44.00 USD and a high forecast of 90.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
1 Buy
2 Hold
1 Sell
Hold
Current: 49.710
Low
44.00
Averages
61.33
High
90.00
Current: 49.710
Low
44.00
Averages
61.33
High
90.00
About IIPR
Innovative Industrial Properties, Inc. is an internally managed real estate investment trust (REIT). The Company is focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. It acquires its properties through sale-leaseback transactions and third-party purchases. The Company owns approximately 109 properties comprising an aggregate of 9.0 million rentable square feet (including 666,000 rentable square feet under development/redevelopment) in 19 states, including Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington. Its subsidiary is IIP Operating Partnership, LP (Operating Partnership).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
