Innovative Industrial Properties (NYSE:IIPR) Given New $130.00 Price Target at Roth Mkm

Innovative Industrial Properties (NYSE:IIPR) had its price target decreased by Roth Mkm from $140.00 to $130.00 in a research report report published on Friday,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

IIPR has been the subject of a number of other research reports. JMP Securities reiterated a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. BTIG Research lowered Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. Roth Capital upgraded Innovative Industrial Properties to a “strong-buy” rating in a research note on Monday, November 11th. Piper Sandler lowered Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and cut their price target for the company from $118.00 to $70.00 in a research note on Friday, December 20th. Finally, Compass Point lowered Innovative Industrial Properties from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $78.00 in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have given 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.00.

Innovative Industrial Properties Stock Performance

NYSE IIPR opened at $72.94 on Friday. The stock has a 50-day simple moving average of $72.18 and a two-hundred day simple moving average of $104.38. The firm has a market capitalization of $2.07 billion, a P/E ratio of 13.19 and a beta of 1.40. Innovative Industrial Properties has a fifty-two week low of $62.45 and a fifty-two week high of $138.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings data on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.22. The business had revenue of $76.74 million during the quarter, compared to analyst estimates of $76.21 million. Innovative Industrial Properties had a return on equity of 8.37% and a net margin of 52.40%. On average, equities analysts forecast that Innovative Industrial Properties will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.90 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $7.60 annualized dividend and a dividend yield of 10.42%. Innovative Industrial Properties’s dividend payout ratio is presently 137.43%.

Institutional Investors Weigh In On Innovative Industrial Properties

Institutional investors have recently bought and sold shares of the company. Bogart Wealth LLC acquired a new stake in Innovative Industrial Properties in the 4th quarter worth about $27,000. Canton Hathaway LLC acquired a new stake in Innovative Industrial Properties in the 3rd quarter worth about $55,000. Loomis Sayles & Co. L P boosted its holdings in Innovative Industrial Properties by 3,130.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock worth $57,000 after buying an additional 407 shares during the last quarter. US Bancorp DE boosted its holdings in Innovative Industrial Properties by 75.3% in the 3rd quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after buying an additional 189 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new stake in Innovative Industrial Properties in the 4th quarter worth about $32,000. 70.58% of the stock is currently owned by institutional investors and hedge funds.

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.