Innovative Industrial Properties, Inc. (NYSE:IIPR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $127.67.

IIPR has been the topic of several research reports. Roth Mkm lifted their target price on Innovative Industrial Properties from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Roth Capital upgraded Innovative Industrial Properties to a “strong-buy” rating in a report on Monday. Compass Point raised Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Friday. Piper Sandler cut their target price on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating for the company in a report on Friday. Finally, Wolfe Research upgraded shares of Innovative Industrial Properties to a “hold” rating in a research report on Monday, September 23rd.

Institutional Trading of Innovative Industrial Properties

Institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC lifted its stake in Innovative Industrial Properties by 1,465.1% in the first quarter. Tidal Investments LLC now owns 236,929 shares of the company’s stock worth $24,532,000 after purchasing an additional 221,791 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Innovative Industrial Properties by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 328,344 shares of the company’s stock valued at $35,862,000 after acquiring an additional 45,779 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in Innovative Industrial Properties by 279.1% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 47,343 shares of the company’s stock valued at $5,171,000 after acquiring an additional 34,854 shares during the period. Russell Investments Group Ltd. grew its position in Innovative Industrial Properties by 253.7% in the 1st quarter. Russell Investments Group Ltd. now owns 44,038 shares of the company’s stock valued at $4,560,000 after acquiring an additional 31,587 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Innovative Industrial Properties by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,410,907 shares of the company’s stock worth $456,705,000 after purchasing an additional 28,111 shares during the period. 70.58% of the stock is currently owned by institutional investors.

Innovative Industrial Properties Stock Up 1.3 %

NYSE IIPR opened at $107.79 on Tuesday. Innovative Industrial Properties has a 12 month low of $73.04 and a 12 month high of $138.35. The company has a current ratio of 11.53, a quick ratio of 18.06 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.05 billion, a PE ratio of 19.18 and a beta of 1.37. The stock’s 50 day moving average is $129.41 and its 200 day moving average is $118.70.

Innovative Industrial Properties (NYSE:IIPR) last released its earnings results on Wednesday, November 6th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.76). Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. The company had revenue of $76.53 million during the quarter, compared to analysts’ expectations of $77.30 million. During the same period last year, the firm posted $2.29 EPS. Innovative Industrial Properties’s quarterly revenue was down 1.7% compared to the same quarter last year. Research analysts predict that Innovative Industrial Properties will post 8.47 EPS for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 7.05%. The ex-dividend date of this dividend was Monday, September 30th. Innovative Industrial Properties’s payout ratio is 135.23%.

Innovative Industrial Properties Company Profile

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.