Timothy Lutts — a leading growth stock expert — is the chief analyst and editor of the speciality newsletter advisory, Cabot Marijuana Investor. Here's his top pick in the cannabis sector.

Innovative Industrial Properties (IIPR) is a real estate investment trust (REIT) dedicated to the cannabis industry — which is the fastest-growing industry in the U.S.

The stocks in the cannabis industry are notoriously volatile, in part because they’re often low-priced and thinly traded, but IIPR is far less volatile, while still holding the promise of great growth.

The company has eleven properties in nine states (Arizona, Colorado, Illinois, Maryland, Massachusetts, Michigan, Minnesota, New York and Pennsylvania), totaling more than a million rentable square feet. All properties are currently leased with a weighted-average remaining lease term of approximately 14.7 years.

Dividends are paid quarterly, and currently yield 2.8%. Analysts are projecting earnings of $0.76 per share in 2018 and then $1.97 per share in 2019. And the stock is currently on a normal correction, having pulled back 24% from its November high.

Subscribe to Cabot Marijuana Investor here…