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It's rare for a real estate investment trust to trade for anywhere near its tangible book value, but this one is close.
Innovative Industrial Properties (IIPR -0.17%) hasn't exactly been a strong-performing REIT, with tenant troubles and interest rate headwinds contributing to the stock trading for nearly 75% below its 2021 peak. But as Fool.com contributor Tyler Crowe explains in this video, this 9.8%-yielding dividend stock is trading for a remarkably low valuation and is starting to look intriguing.
*Stock prices used were the afternoon prices of June 13, 2023. The video was published on June 14, 2023.
Matthew Frankel, CFP® has no position in any of the stocks mentioned. Tyler Crowe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Innovative Industrial Properties. The Motley Fool has a disclosure policy. Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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