Innovative Industrial Properties (NYSE:IIPR) Receives “Sell” Rating from Compass Point

Innovative Industrial Properties (NYSE:IIPR)‘s stock had its “sell” rating reiterated by research analysts at Compass Point in a research report issued on Monday,Benzinga reports. They presently have a $50.00 price target on the stock, down from their previous price target of $60.00. Compass Point’s target price points to a potential downside of 21.60% from the stock’s current price.

IIPR has been the subject of several other research reports. BTIG Research cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a report on Monday, December 16th. Alliance Global Partners cut shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. Roth Mkm decreased their target price on shares of 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. Finally, Piper Sandler dropped their price target on shares of Innovative Industrial Properties from $70.00 to $60.00 and set an “underweight” rating on the stock in a research report on Monday, March 17th. Two analysts have rated the stock with a sell rating, four have assigned 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $85.00.

Innovative Industrial Properties Price Performance

Shares of NYSE IIPR opened at $63.77 on Monday. Innovative Industrial Properties has a 52 week low of $56.78 and a 52 week high of $138.35. The company has a quick ratio of 11.53, a current ratio of 14.32 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.81 billion, a P/E ratio of 11.53 and a beta of 1.49. The business’s 50 day moving average price is $70.26 and its 200 day moving average price is $95.06.

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, hitting analysts’ consensus estimates of $2.22. The firm had revenue of $76.74 million for the quarter, compared to analyst estimates of $76.21 million. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. On average, sell-side analysts expect that Innovative Industrial Properties will post 8.28 earnings per share for the current year.

Insider Buying and Selling at Innovative Industrial Properties

In other Innovative Industrial Properties news, Director David Stecher sold 7,599 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $70.55, for a total transaction of $536,109.45. Following the completion of the sale, the director now directly owns 1,346 shares in the company, valued at approximately $94,960.30. The trade was a 84.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Trading of Innovative Industrial Properties

A number of institutional investors have recently made changes to their positions in IIPR. Bogart Wealth LLC acquired a new position in Innovative Industrial Properties in the 4th quarter valued at $27,000. Compass Financial Services Inc acquired a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at about $32,000. GF Fund Management CO. LTD. purchased a new position in shares of Innovative Industrial Properties in the fourth quarter worth about $34,000. Smartleaf Asset Management LLC boosted its position in Innovative Industrial Properties by 182.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the company’s stock worth $43,000 after acquiring an additional 417 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at approximately $50,000. 70.58% of the stock is owned by institutional investors and hedge funds.

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.