Standard & Poors said it will be adding cannabis REIT Innovative Industrial Properties (NYSE:IIPR) to the 600 SmallCap Index next week.
Innovative Industrial Properties (IIPR) is a real estate investment trust (REIT) that focuses on the acquisition, ownership and management of specialized industrial properties. IIPR is also an industry leader in providing real estate capital for the medical cannabis sector.
Headquartered in San Diego, CA, the company will be added to the S&P SmallCap 600 GICS Industrial REITs Sub-Industry index. Innovative Industrial has a market cap of just $600 million.