Long Position on IIPR @ $83.00 on 4/24/2019 (Momentum)

Innovative Industrial Properties, Inc. (IIPR) is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities.

Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017. 

On March 13th, Innovative Industrial Properties (IIPR) reported 4th Quarter December 2018 earnings of $0.38 per share on revenue of $4.8 million.. Revenue grew 109.6% on a year-over-year basis.

Shares are heading higher in an upward trading channel. The lower boundary of the channel runs parrel to the stock's 50-day moving average (shown in brown). Higher share prices are expected for this stock. The company reports its results on JUne 12th.

Entry Point: $83.00

Stop Loss: $78.85

Trading Range: $31.40 - $93.24

Targt Price: $91.30

Updates

6/6/2019 9:33:18 AM

IIPR closed at $92.80

Position closed on 6/6/2019 at price of $92.80 with a 11.81% gain in 43 days.

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