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

Innovative Industrial Properties, Inc. (NYSE:IIPR) has been assigned an average rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $88.00.

Several equities research analysts have weighed in on the stock. Roth Mkm lowered 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. Industrial Alliance Securities set a $60.00 price target on shares of Innovative Industrial Properties in a report on Tuesday. BTIG Research cut shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Compass Point decreased their price target on shares of Innovative Industrial Properties from $78.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Innovative Industrial Properties in a report on Monday, December 16th.

Innovative Industrial Properties Price Performance

Shares of IIPR opened at $63.44 on Monday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 11.47 and a beta of 1.49. Innovative Industrial Properties has a twelve month low of $61.72 and a twelve month 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 company has a 50 day moving average of $70.42 and a two-hundred day moving average of $97.45.

Innovative Industrial Properties (NYSE:IIPR) last announced its earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, meeting the consensus estimate of $2.22. The company had revenue of $76.74 million during the quarter, compared to the consensus estimate of $76.21 million. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. As a group, analysts predict that Innovative Industrial Properties will post 8.28 earnings per share for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $1.90 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.60 annualized dividend and a dividend yield of 11.98%. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 137.43%.

Insider Buying and Selling

In related news, Director David Stecher sold 7,599 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $70.55, for a total transaction of $536,109.45. Following the completion of the transaction, the director now owns 1,346 shares of the company’s stock, valued at $94,960.30. This trade represents a 84.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC acquired a new stake in Innovative Industrial Properties during the fourth quarter valued at $27,000. Compass Financial Services Inc acquired a new stake in Innovative Industrial Properties during the fourth quarter valued at $32,000. GF Fund Management CO. LTD. acquired a new stake in Innovative Industrial Properties during the fourth quarter valued at $34,000. Smartleaf Asset Management LLC grew 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 valued at $43,000 after buying an additional 417 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Innovative Industrial Properties during the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 70.58% of the company’s stock.

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.