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Innovative Industrial Properties, Inc. (NYSE:IIPR) Receives Consensus Recommendation of "Buy" from Analysts

Last updated on Tuesday, February 23, 2021 | 2021 MarketBeat

Innovative Industrial Properties, Inc. (NYSE:IIPR) has been assigned a consensus rating of "Buy" from the eight analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $207.17.

IIPR has been the topic of a number of research reports. Compass Point raised their price objective on Innovative Industrial Properties from $180.00 to $220.00 and gave the company a "buy" rating in a report on Friday, December 18th. JMP Securities raised their price target on shares of Innovative Industrial Properties from $185.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, January 29th. LADENBURG THALM/SH SH cut shares of Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a research note on Wednesday, December 23rd. They noted that the move was a valuation call. Roth Capital upped their price objective on shares of Innovative Industrial Properties from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, November 5th. Finally, Zacks Investment Research cut shares of Innovative Industrial Properties from a "hold" rating to a "sell" rating in a research note on Tuesday, February 9th.

Several institutional investors have recently bought and sold shares of IIPR. BlackRock Inc. grew its stake in shares of Innovative Industrial Properties by 19.2% in the 3rd quarter. BlackRock Inc. now owns 3,561,140 shares of the company's stock valued at $441,973,000 after buying an additional 573,754 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of Innovative Industrial Properties by 1,165.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 433,488 shares of the company's stock valued at $15,977,000 after buying an additional 399,236 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Innovative Industrial Properties in the 4th quarter valued at approximately $30,996,000. Caas Capital Management LP purchased a new stake in shares of Innovative Industrial Properties in the 4th quarter valued at approximately $29,363,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Innovative Industrial Properties by 1,149.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 128,851 shares of the company's stock valued at $23,596,000 after buying an additional 118,536 shares during the period. 74.85% of the stock is owned by institutional investors and hedge funds.

Shares of IIPR stock opened at $211.57 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 458.27 and a quick ratio of 458.27. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 68.47 and a beta of 1.52. The stock has a 50 day simple moving average of $197.13 and a 200-day simple moving average of $153.98. Innovative Industrial Properties has a 1-year low of $40.21 and a 1-year high of $221.03.

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 medical-use 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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Analyst Recommendations for Innovative Industrial Properties (NYSE:IIPR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]


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