Innovative Industrial Properties (NYSE:IIPR - Get Free Report) is set to post its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Innovative Industrial Properties to post earnings of $2.10 per share for the quarter. Investors interested in listening to the company's conference call can do so using this link.
Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.62). Innovative Industrial Properties had a return on equity of 8.54% and a net margin of 53.50%. The firm had revenue of $79.16 million for the quarter, compared to analysts' expectations of $76.55 million.
Innovative Industrial Properties Stock Up 2.0 %
Innovative Industrial Properties stock traded up $2.10 during midday trading on Wednesday, hitting $105.50. 630,782 shares of the stock were exchanged, compared to its average volume of 226,169. Innovative Industrial Properties has a 1 year low of $65.16 and a 1 year high of $108.11. The firm has a market cap of $2.98 billion, a P/E ratio of 18.29 and a beta of 1.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.22 and a quick ratio of 14.22. The company has a 50 day moving average price of $98.14 and a two-hundred day moving average price of $91.39.
Innovative Industrial Properties Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 6.90%. The ex-dividend date was Wednesday, March 27th. Innovative Industrial Properties's payout ratio is currently 126.17%.
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Innovative Industrial Properties from $85.00 to $103.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. TheStreet upgraded shares of Innovative Industrial Properties from a "c+" rating to a "b-" rating in a report on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $92.67.
Read Our Latest Analysis on IIPR
About Innovative Industrial Properties
(
Get Free Report)
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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