5 Best Hemp Stocks To Buy Now

3. Innovative Industrial Properties, Inc. (NYSE:IIPR)

Number of Hedge Fund Holders: 16      

Innovative Industrial Properties, Inc. (NYSE:IIPR) is a real estate investment trust that runs medical-use cannabis facilities. Innovative Industrial Properties, Inc. (NYSE:IIPR) has consistently paid a growing dividend to shareholders for the past five years. On December 15, the firm declared a quarterly dividend of $1.82 per share, a 1.1% increase from the previous payment. 

At the end of the third quarter of 2023, 16 hedge funds in the database of Insider Monkey held stakes worth $127 million in Innovative Industrial Properties, Inc. (NYSE:IIPR), the same as in the preceding quarter worth $122 million.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Zimmer Partners is a leading shareholder in Innovative Industrial Properties, Inc. (NYSE:IIPR) with 1.1 million shares worth more than $86 million.