Innovative Industrial Properties, Inc. (NYSE:IIPR – Get Free Report) has been given an average rating of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $102.00.
Several brokerages recently weighed in on IIPR. Roth Mkm cut their price target on Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, February 21st. 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. Alliance Global Partners lowered Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note 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. Finally, Piper Sandler lowered Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $118.00 to $70.00 in a research note on Friday, December 20th.
Insider Transactions at Innovative Industrial Properties
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC acquired a new position in shares of Innovative Industrial Properties during the 4th quarter worth approximately $27,000. Compass Financial Services Inc acquired a new position in Innovative Industrial Properties in the fourth quarter valued at approximately $32,000. GF Fund Management CO. LTD. acquired a new position in Innovative Industrial Properties in the fourth quarter valued at approximately $34,000. Smartleaf Asset Management LLC lifted its holdings in Innovative Industrial Properties by 182.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the company’s stock valued at $43,000 after acquiring an additional 417 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Innovative Industrial Properties in the fourth quarter valued at approximately $50,000. 70.58% of the stock is currently owned by institutional investors and hedge funds.
Innovative Industrial Properties Stock Performance
NYSE IIPR opened at $69.64 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32. Innovative Industrial Properties has a fifty-two week low of $62.45 and a fifty-two week high of $138.35. The stock has a 50-day simple moving average of $70.56 and a two-hundred day simple moving average of $99.19. The firm has a market capitalization of $1.97 billion, a P/E ratio of 12.59 and a beta of 1.49.
Innovative Industrial Properties (NYSE:IIPR – Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, meeting the consensus estimate of $2.22. Innovative Industrial Properties had a return on equity of 8.39% and a net margin of 52.40%. The firm had revenue of $76.74 million during the quarter, compared to analyst estimates of $76.21 million. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 10.91%. The ex-dividend date is Monday, March 31st. Innovative Industrial Properties’s dividend payout ratio is currently 137.43%.
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.
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