Reported 3 days ago
Compass Point analyst Merrill Ross has downgraded Innovative Industrial Properties (IIPR) to Neutral after PharmaCann defaulted on all leases, raising concerns over the firm's revenue and dividend sustainability. Ross believes the default may be a negotiation tactic aimed at exiting a specific lease, but warns that both parties need to act quickly to avoid financial fallout. The situation calls for 'creativity' in negotiations as Innovative Industrial faces the challenge of maintaining a critical revenue stream.
Source: YAHOO