Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR – Get Free Report) have been given a consensus recommendation of “Hold” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $104.50.
IIPR has been the subject of a number of research reports. Alliance Global Partners downgraded Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 23rd. Roth Capital upgraded Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. BTIG Research lowered shares of 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 research report on Monday, December 16th. Finally, Compass Point downgraded Innovative Industrial Properties from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $78.00 in a research report on Friday, December 20th.
Read Our Latest Analysis on IIPR
Institutional Trading of Innovative Industrial Properties
Innovative Industrial Properties Price Performance
Shares of NYSE:IIPR opened at $67.98 on Friday. The company has a market cap of $1.93 billion, a P/E ratio of 12.10 and a beta of 1.39. The business has a fifty day simple moving average of $84.56 and a 200-day simple moving average of $110.16. Innovative Industrial Properties has a 52 week low of $62.45 and a 52 week high of $138.35. The company has a quick ratio of 11.53, a current ratio of 11.53 and a debt-to-equity ratio of 0.15.
Innovative Industrial Properties (NYSE:IIPR – Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.76). Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. The company had revenue of $76.53 million during the quarter, compared to analyst estimates of $77.30 million. During the same period in the prior year, the business posted $2.29 earnings per share. Innovative Industrial Properties’s revenue was down 1.7% on a year-over-year basis. Equities research analysts forecast that Innovative Industrial Properties will post 8.36 EPS for the current year.
Innovative Industrial Properties Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 11.18%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio is currently 135.23%.
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.
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