5 Extreme Dividend Stocks With Upside Potential

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

Upside Potential as of March 21: 73.43%
Dividend Yield as of March 21: 9.01%

Innovative Industrial Properties, Inc. (NYSE:IIPR) is a California-based real estate investment trust company that provides capital for the medical-use cannabis industry. The company saw a growth in hedge fund positions in Q4 2022, as 14 funds in Insider Monkey’s database owned stakes in the company, up from 12 in the previous quarter. These stakes have a consolidated value of over $298.7 million.

On March 15, Innovative Industrial Properties, Inc. (NYSE:IIPR) declared a quarterly dividend of $1.80 per share, which was consistent with its previous dividend. The company has raised its dividend every year since the initiation of its dividend policy in 2017. The stock has a dividend yield of 9.01%, as of March 21.

Craig-Hallum maintained a Buy rating on Innovative Industrial Properties, Inc. (NYSE:IIPR) in March with a $125 price target.

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