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

Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) have earned an average rating of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $104.50.

A number of brokerages have recently issued reports on IIPR. Alliance Global Partners downgraded Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, December 23rd. JMP Securities reiterated a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. Piper Sandler lowered shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $118.00 to $70.00 in a research report on Friday, December 20th. BTIG Research downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Monday, December 23rd. Finally, Compass Point cut shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating and decreased their target price for the company from $125.00 to $78.00 in a research report on Friday, December 20th.

Innovative Industrial Properties Stock Performance

IIPR stock opened at $72.99 on Friday. Innovative Industrial Properties has a 1-year low of $62.45 and a 1-year high of $138.35. The business has a 50-day moving average price of $83.13 and a 200 day moving average price of $109.60. The company has a market capitalization of $2.07 billion, a P/E ratio of 12.99 and a beta of 1.39. 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 (NYSE:IIPR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). The business had revenue of $76.53 million for the quarter, compared to the consensus estimate of $77.30 million. Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. Innovative Industrial Properties’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.29 earnings per share. As a group, equities research analysts forecast that Innovative Industrial Properties will post 8.36 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 10.41%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 135.23%.

Institutional Investors Weigh In On Innovative Industrial Properties

A number of large investors have recently made changes to their positions in IIPR. USA Financial Formulas acquired a new position in Innovative Industrial Properties in the 3rd quarter worth approximately $25,000. Bogart Wealth LLC purchased a new position in shares of Innovative Industrial Properties during the fourth quarter worth $27,000. Compass Financial Services Inc acquired a new position in Innovative Industrial Properties during the fourth quarter valued at $32,000. Canton Hathaway LLC purchased a new stake in Innovative Industrial Properties in the third quarter valued at $55,000. Finally, Loomis Sayles & Co. L P boosted its holdings in Innovative Industrial Properties by 3,130.8% in the third quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock valued at $57,000 after purchasing an additional 407 shares during the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.

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.