Innovative Industrial Properties, Inc. (NYSE:IIPR - Get Free Report) has been given an average recommendation of "Hold" by the nine research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $78.67.
Several research firms have issued reports on IIPR. Wolfe Research lowered Innovative Industrial Properties from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, July 2nd. Compass Point reaffirmed a "sell" rating and set a $50.00 target price (down previously from $60.00) on shares of Innovative Industrial Properties in a report on Monday, March 31st. Piper Sandler decreased their price target on Innovative Industrial Properties from $55.00 to $45.00 and set an "underweight" rating for the company in a report on Tuesday, April 15th. Finally, Industrial Alliance Securities restated a "neutral" rating on shares of Innovative Industrial Properties in a research report on Tuesday, April 1st.
View Our Latest Analysis on IIPR
Innovative Industrial Properties Price Performance
IIPR stock opened at $52.42 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 10.73 and a quick ratio of 10.73. Innovative Industrial Properties has a one year low of $45.44 and a one year high of $138.35. The stock has a market cap of $1.47 billion, a PE ratio of 10.08 and a beta of 1.69. The firm has a 50 day simple moving average of $56.08 and a two-hundred day simple moving average of $61.07.
Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). Innovative Industrial Properties had a return on equity of 8.01% and a net margin of 50.30%. The firm had revenue of $71.72 million during the quarter, compared to analysts' expectations of $72.20 million. During the same period in the prior year, the company posted $2.21 earnings per share. The company's revenue was down 5.7% compared to the same quarter last year. On average, analysts predict that Innovative Industrial Properties will post 8.28 EPS for the current fiscal year.
Innovative Industrial Properties Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $1.90 per share. The ex-dividend date was Monday, June 30th. This represents a $7.60 annualized dividend and a yield of 14.50%. Innovative Industrial Properties's dividend payout ratio (DPR) is currently 146.15%.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Flaharty Asset Management LLC bought a new position in Innovative Industrial Properties during the 1st quarter worth about $27,000. AdvisorNet Financial Inc raised its holdings in Innovative Industrial Properties by 50.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 559 shares of the company's stock valued at $31,000 after acquiring an additional 187 shares during the period. PSI Advisors LLC raised its holdings in Innovative Industrial Properties by 454.5% in the 1st quarter. PSI Advisors LLC now owns 610 shares of the company's stock valued at $33,000 after acquiring an additional 500 shares during the period. SSA Swiss Advisors AG bought a new position in Innovative Industrial Properties in the 1st quarter valued at about $33,000. Finally, GF Fund Management CO. LTD. bought a new position in Innovative Industrial Properties in the 4th quarter valued at about $34,000. Institutional investors own 70.58% of the company's stock.
Innovative Industrial Properties Company Profile
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Get Free ReportInnovative 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.
Further Reading
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