Innovative Industrial Properties: A Hidden Gem in Oversold Territory
Investors Keep an Eye on Unique Opportunities
The DividendRank formula at Dividend Channel evaluates thousands of dividend stocks, aiming to discover those with strong fundamentals and appealing valuations. Currently, Innovative Industrial Properties Inc (Symbol: IIPR) stands out with an impressive rank within the top 10% of its coverage universe, indicating it could be a prime investment option worth exploring.
In a notable development, shares of IIPR traded at a low of $105.86 on Thursday, pushing the stock into oversold territory. This status is determined by the Relative Strength Index (RSI), a technical analysis tool measuring momentum on a scale from 0 to 100. A stock is classified as oversold when its RSI falls below 30.
As of now, IIPR has an RSI value of 22.8, significantly lower than the average RSI of 56.8 for all dividend stocks in the Dividend Channel database. When stock prices decline, dividend investors often see this as an opportunity to secure higher yields. Given that IIPR offers an annualized dividend of $7.6 per share—distributed quarterly—this results in an attractive annual yield of 6.18% based on a recent share price of $123.00.
For bullish investors, the current RSI of 22.8 may signal that the recent sell-off is beginning to stabilize, creating potential entry points for buying. To better evaluate whether to invest in IIPR, examining its historical dividend performance is essential.
While dividends can be unpredictable, reviewing the dividend history chart below can provide insights into the likelihood of future dividend payments.
Click here to discover 9 other oversold dividend stocks investors should watch »
Also see:
Low PE Ratios
Top Ten Hedge Funds Holding PVTD
JHG Earnings History
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
