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With a yield of just over 6%, Innovative Industrial Properties (SYM: IIPR) is a commercial mortgage real estate investment trust that provides financing to the cannabis industry. While cannabis is still a controversial investing topic, it's tough to avoid. For one, both presidential candidates support legalization efforts. In fact, Donald Trump just signaled support for reclassifying cannabis as a less dangerous drug. Two, according to the Pew Research Center, nine out of 10 Americans say it should be legalized. 
All of which could have a substantial impact on IIPR and its future dividend payouts. Even more impressive, IIPR's second quarter funds from operations (FFO) of $2.06 beat by six cents. Revenue of $79.8 million, up 4.4% year over year, beat by $2.54 million. Again, should we see further legalization efforts, IIPR could be a prime beneficiary.
At the moment, IIPR owns about 108 properties across 19 states with 8.9 million rentable square feet. Plus, 95.2% of its portfolio is triple-net leased. It also just closed a triple net lease agreement with AYR Wellness in Florida for a 16-acre property, which holds about 145,000 sq. ft. of industrial space in Ocala. Did you miss yesterday's Chart of the Day? Click here to view it now.
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