No. of Recommendations: 1
I was looking around last year for a cannabis stock which wouldn't burn me if the bubble burst and came across this article from TMF so took a small starter position back in mid October when it was trading at around $43.
https://www.fool.com/premium/marijuana-masters/coverage/4092...
Since then I added at $52 and again at $55 bringing it to a 4% position. Currently trades at $66.
Brief description:
Buys real estate for growing medical marijuana and then leases it back to growers for recurring revenues.
Co-Founder led.
YoIC of 15.7%
Dividend yield of around 2.5%
Forward P/E of around 33 (yikes!)
Investor page:
http://investors.innovativeindustrialproperties.com/company-...
There are definitely risks:
https://www.fool.com/investing/2019/02/12/this-top-marijuana...
Q3 revenue was up by 152% year over year, EPS up by 133% and AFFO per share was up 81%.
My question is: Is this a bubble stock or a genuine growth stock and am I mad to hold it?
Thanks for any advice.
Cheers, PB.
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