Benzinga | Sep 25, 2021 05:00PM EDT

This Cannabis Stock Has A Better 1-Year Return Than Tesla, Nio, GM, Apple, Disney And Microsoft

Investors who added Innovative Industrial Properties Inc (NYSE:IIPR) to their portfolio one year ago are living the high life.

Since September 2020, Innovative Industrial stock's 1-year return has outperformed a number of the world's most popular tech, clean energy and entertainment companies: Tesla Inc (NASDAQ:TSLA), Nio Inc - ADR (NYSE:NIO), General Motors Company (NYSE:GM), Apple Inc (NASDAQ:AAPL), Walt Disney Co (NYSE:DIS) and Microsoft Corporation (NASDAQ:MSFT).

For the uninitiated- Innovative Industrial is a real estate investment trust engaged in the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities.

Innovative Industrial mainly targets medical-use cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers under long-term, triple-net leases.

Here's how the returns break down from September 2020 to present:

* Tesla is up from $407.34 a share to $774.39 for a return of 90.11%

* Nio is up from $18.32 a share to $35.38 for a return of 93.12%

* GM is up from $29.00 a share to $52.23 for a return of 80.10%

* Apple is up from $112.28 a share to $146.92 for a return of 30.85%

* Disney is up from $124.00 a share to $176.00 for a return of 41.94%

* Microsoft is up from $207.82 a share to $299.34 for a return of 44.04%

* And finally, Innovative Industrial is up from $123.36 a share to $244.88 for a return of 98.51%

Related Link: Cannabis REIT Innovative Industrial Properties Enters Missouri Via $28.3M Deal With Calyx Peak's Subsidiary