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BUZZ-Weed REIT Innovative Industrial Properties getting smoked

Fri 30th August, 2019 8:26pm
** Innovative Industrial Properties Inc  IIPR.N  shares dive
Fri on no apparent catalyst
    ** IIPR recently down 12.9% at $88.50 and biggest S&P
SmallCap 600 index  .SPCY  loser; ~970k shares have traded,
triple the 10-DMA
    ** Stock has now fallen ~37% from Jul 11 record high since
co priced equity follow-on at $126 to invest in specialized
properties for regulated medical-use cannabis cultivation and
processing  urn:newsml:reuters.com:*:nL2N24C1S6  urn:newsml:reuters.com:*:nBwbPT5Lga
    ** On Aug 15, IIPR filed for mixed shelf offering with SEC
for up to $250 mln. Filing https://www.sec.gov/Archives/edgar/data/1677576/000114420419040291/tv527718_s3.htm
    ** Just 3 analysts cover IIPR: 2 rate "strong buy" the other
has "hold"; median PT is $164 (Refinitiv data)
    ** Fri decline cutting IIPR YTD gain to 95%

 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))
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