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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