Research Analysts’ Recent Ratings Updates for Innovative Industrial Properties (IIPR)

Innovative Industrial Properties (NYSE: IIPR) has recently received a number of price target changes and ratings updates:

• 12/20/2024 – Innovative Industrial Properties was downgraded by analysts at Piper Sandler from a “neutral” rating to an “underweight” rating. They now have a $70.00 price target on the stock, down previously from $118.00.
• 12/20/2024 – Innovative Industrial Properties was downgraded by analysts at Compass Point from a “buy” rating to a “neutral” rating. They now have a $78.00 price target on the stock, down previously from $125.00.
• 12/17/2024 – Innovative Industrial Properties is now covered by analysts at Alliance Global Partners. They set a “buy” rating and a $130.00 price target on the stock.
• 12/16/2024 – Innovative Industrial Properties had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 11/11/2024 – Innovative Industrial Properties was upgraded by analysts at Roth Capital to a “strong-buy” rating.
• 11/8/2024 – Innovative Industrial Properties had its price target lowered by analysts at Piper Sandler from $120.00 to $118.00. They now have a “neutral” rating on the stock.
• 11/8/2024 – Innovative Industrial Properties was upgraded by analysts at Compass Point from a “neutral” rating to a “buy” rating. They now have a $125.00 price target on the stock.

Innovative Industrial Properties Stock Down 22.7 %

NYSE IIPR opened at $73.66 on Monday. Innovative Industrial Properties, Inc. has a 12 month low of $70.88 and a 12 month high of $138.35. The company has a current ratio of 11.53, a quick ratio of 11.53 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.09 billion, a PE ratio of 13.11 and a beta of 1.30. The stock’s 50 day moving average is $114.40 and its 200 day moving average is $117.98.

Innovative Industrial Properties (NYSE:IIPR) last issued its earnings results on Wednesday, November 6th. The company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). The company had revenue of $76.53 million for the quarter, compared to the consensus estimate of $77.30 million. Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. Innovative Industrial Properties’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 EPS. Research analysts predict that Innovative Industrial Properties, Inc. will post 8.36 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 10.32%. The ex-dividend date is Tuesday, December 31st. Innovative Industrial Properties’s payout ratio is presently 135.23%.

Institutional Trading of Innovative Industrial Properties

Several hedge funds have recently modified their holdings of IIPR. Wellington Management Group LLP grew its holdings in shares of Innovative Industrial Properties by 48.6% in the third quarter. Wellington Management Group LLP now owns 568,280 shares of the company’s stock valued at $76,490,000 after purchasing an additional 185,855 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Innovative Industrial Properties by 1,054.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,065 shares of the company’s stock worth $8,354,000 after buying an additional 56,689 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 buying an additional 45,779 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Innovative Industrial Properties by 279.1% in 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 last quarter. Finally, Barclays PLC increased its stake in Innovative Industrial Properties by 187.5% during the third quarter. Barclays PLC now owns 47,988 shares of the company’s stock worth $6,459,000 after acquiring an additional 31,295 shares during the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.

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.