Innovative Industrial Properties (IIPR) to Release Quarterly Earnings on Wednesday

Innovative Industrial Properties (NYSE:IIPR) will likely be issuing its quarterly earnings data after the market closes on Wednesday, February 19th. Analysts expect the company to announce earnings of $2.22 per share and revenue of $76.21 million for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Innovative Industrial Properties Stock Up 0.6 %

Shares of NYSE:IIPR opened at $74.30 on Wednesday. The firm has a market capitalization of $2.10 billion, a PE ratio of 13.22 and a beta of 1.40. The business has a 50 day simple moving average of $77.39 and a two-hundred day simple moving average of $106.80. Innovative Industrial Properties has a 1 year low of $62.45 and a 1 year high of $138.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.53 and a quick ratio of 11.53.

Innovative Industrial Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 10.23%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties’s payout ratio is currently 135.23%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IIPR shares. BTIG Research downgraded Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Monday, December 23rd. JMP Securities reiterated a “market perform” rating on shares of Innovative Industrial Properties in a report on Monday, December 16th. Roth Capital raised shares of Innovative Industrial Properties to a “strong-buy” rating in a research report on Monday, November 11th. Piper Sandler lowered shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $118.00 to $70.00 in a research report on Friday, December 20th. Finally, Alliance Global Partners lowered Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Innovative Industrial Properties currently has a consensus rating of “Hold” and an average target price of $104.50.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.