COMPASS POINT SAYS INNOVATIVE INDUSTRIAL NEEDS ‘CREATIVITY’ AFTER TENANT DEFAULT
https://media.zenfs.com/en/tipranks_452/f14a5ea5a67f18327071bb27a8214363
✍️ Compass Point analyst Merrill Ross downgraded Innovative Industrial Properties to Neutral from Buy due to a default by PharmaCann on all leases, citing uncertainty and a need for creative negotiation.
👉 Merrill Ross downgraded IIPR to Neutral from Buy 👉 PharmaCann defaulted on all leases 👉 IIPR needs to collect 17% of its revenue to maintain its dividend 👉 The 'clock is ticking' for both companies 👉 Innovative Industrial is 'wielding a big stick' in the cross-default provision
-- #MerrillRoss #Warren #business
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