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S&P 500   4,298.86
DOW   33,876.78
QQQ   354.50
MarketBeat Week in Review – 6/4 - 6/9
"Unknown laser company making HUGE profit from Russia-Ukraine War" (Ad)
How major US stock indexes fared Friday 6/9/2023
FuelCell Is Back To Realistic Valuation
Bank Collapse Causes Gold Prices to Soar (Ad)
New Mexico reaches $500M settlement with Walgreens in opioid case
With GM and Ford embracing Tesla's EV charging technology, here's what it means for consumers
The single greatest medical breakthrough of all time? (Ad)
Closing prices for crude oil, gold and other commodities
Nigeria's central bank chief arrested after being suspended by president
S&P 500   4,298.86
DOW   33,876.78
QQQ   354.50
MarketBeat Week in Review – 6/4 - 6/9
"Unknown laser company making HUGE profit from Russia-Ukraine War" (Ad)
How major US stock indexes fared Friday 6/9/2023
FuelCell Is Back To Realistic Valuation
Bank Collapse Causes Gold Prices to Soar (Ad)
New Mexico reaches $500M settlement with Walgreens in opioid case
With GM and Ford embracing Tesla's EV charging technology, here's what it means for consumers
The single greatest medical breakthrough of all time? (Ad)
Closing prices for crude oil, gold and other commodities
Nigeria's central bank chief arrested after being suspended by president
S&P 500   4,298.86
DOW   33,876.78
QQQ   354.50
MarketBeat Week in Review – 6/4 - 6/9
"Unknown laser company making HUGE profit from Russia-Ukraine War" (Ad)
How major US stock indexes fared Friday 6/9/2023
FuelCell Is Back To Realistic Valuation
Bank Collapse Causes Gold Prices to Soar (Ad)
New Mexico reaches $500M settlement with Walgreens in opioid case
With GM and Ford embracing Tesla's EV charging technology, here's what it means for consumers
The single greatest medical breakthrough of all time? (Ad)
Closing prices for crude oil, gold and other commodities
Nigeria's central bank chief arrested after being suspended by president
NYSE:IIPR

Innovative Industrial Properties (IIPR) Stock Forecast, Price & News

$70.61
-0.61 (-0.86%)
(As of 06/9/2023 ET)
Compare
Today's Range
$70.25
$71.43
50-Day Range
$64.22
$75.99
52-Week Range
$63.36
$130.67
Volume
171,171 shs
Average Volume
271,709 shs
Market Capitalization
$1.98 billion
P/E Ratio
12.54
Dividend Yield
10.20%
Price Target
$126.50

Innovative Industrial Properties MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.50 Rating Score
Upside/​Downside
79.2% Upside
$126.50 Price Target
Short Interest
Healthy
8.28% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-1.91
Upright™ Environmental Score
News Sentiment
0.58mentions of Innovative Industrial Properties in the last 14 days
Based on 4 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
4.51%
From $7.98 to $8.34 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.21 out of 5 stars

Finance Sector

515th out of 841 stocks

Real Estate Industry

13th out of 21 stocks


IIPR stock logo

About Innovative Industrial Properties (NYSE:IIPR) Stock

Innovative Industrial Properties, Inc. is a prominent player in the cannabis industry, operating as a real estate investment trust (REIT). The company primarily focuses on acquiring and managing specialized properties used for cultivating and processing medical-use cannabis. With a mission to be the leading real estate capital provider for the medical-use cannabis industry, the company has established itself as a key player in this rapidly growing sector.

Headquartered in San Diego, California, Innovative Industrial Properties, Inc. operates across the United States. The company strategically acquires properties in states where medical-use cannabis is legal, leasing them to licensed operators in the cannabis industry. By specializing in real estate, Innovative Industrial Properties, Inc. provides an essential service to cannabis operators, allowing them to focus on their core business while relying on Innovative Industrial Properties, Inc. for their facility needs.

Innovative Industrial Properties, Inc. offers a range of products and services tailored to the unique requirements of the cannabis industry. The company provides state-of-the-art cultivation facilities, processing and distribution centers, and other cannabis-related infrastructure. These properties are equipped with advanced lighting, irrigation, climate control, and security systems, ensuring optimal conditions for cannabis cultivation and production.

In recent years, Innovative Industrial Properties, Inc. has achieved notable milestones and received recognition for its contributions to the cannabis industry. The company has been recognized as the first and only NYSE-listed cannabis REIT and has experienced significant growth since its inception. Its ability to generate substantial revenue and deliver consistent returns to investors has positioned it as a trusted player in the cannabis real estate sector.

Under the leadership of an experienced management team, Innovative Industrial Properties, Inc. has thrived in the complex and evolving cannabis industry. The team is composed of individuals with diverse backgrounds and expertise, ensuring a comprehensive approach to the company's operations. Chief Executive Officer Paul Smithers brings extensive experience in real estate, finance, and legal matters, while Chief Financial Officer Catherine Hastings oversees the company's financial strategy and performance.

Innovative Industrial Properties, Inc. has demonstrated impressive growth in recent years. The company has experienced a steady increase in revenue, driven by the expansion of its property portfolio and long-term lease agreements with cannabis operators. Additionally, Innovative Industrial Properties, Inc. has maintained solid earnings and profit margins, reflecting the efficiency of its operations and the demand for specialized real estate services.

Examining market performance, Innovative Industrial Properties, Inc. has experienced significant stock price movements and changes in trading volume in recent times. The company's share price has been influenced by a variety of factors, including market sentiment toward the cannabis industry, regulatory developments, and company-specific news. Notably, positive news related to the expansion of cannabis legalization and the company’s acquisition of new properties has often resulted in upward movements in the stock price.

The cannabis industry has been subject to various trends, challenges, and regulatory changes. In this context, Innovative Industrial Properties, Inc. operates within a competitive landscape. The broader industry analysis reveals that the cannabis market is experiencing significant growth driven by increasing acceptance of medical-use cannabis and the legalization of recreational cannabis in some jurisdictions. However, the industry also faces regulatory and political uncertainties as laws and regulations surrounding cannabis continue to evolve.

Innovative Industrial Properties, Inc. has a distinct advantage as a specialized cannabis REIT. The company's focus on providing tailored real estate solutions for cannabis operators sets it apart from traditional REITs. By understanding the unique needs and compliance requirements of the cannabis industry, Innovative Industrial Properties, Inc. can offer properties and services that cater specifically to the cultivation and processing of medical-use cannabis.

Innovative Industrial Properties, Inc. is well-positioned to capitalize on growth opportunities in the cannabis industry. As more states and countries legalize medical and recreational cannabis, the demand for specialized real estate solutions is expected to increase. The company can seize these opportunities by expanding its property portfolio, forging new partnerships, and diversifying into emerging markets.

Innovative Industrial Properties, Inc. faces certain risks and challenges along with growth opportunities. One significant risk is the evolving regulatory landscape surrounding cannabis. Changes in legislation or new regulations could impact the company's ability to lease properties or operate within specific jurisdictions. Innovative Industrial Properties, Inc. must actively monitor and adapt to regulatory changes to mitigate potential disruptions to its operations.

Additionally, competition within the cannabis real estate market is intensifying as more players recognize the industry's potential. Increased competition may lead to pricing pressures and a potential decline in profit margins. To address this, Innovative Industrial Properties, Inc. must continue to differentiate itself by providing exceptional service, maintaining strong relationships with tenants, and leveraging its industry expertise.

Regarding risk management strategies, Innovative Industrial Properties, Inc. maintains a rigorous due diligence process when evaluating potential tenants. The company thoroughly assesses the financial stability and compliance track record of cannabis operators to mitigate the risk of tenant defaults or regulatory non-compliance. Innovative Industrial Properties, Inc. also maintains a balanced and diversified property portfolio to minimize concentration risks.

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IIPR Stock News Headlines

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See More Headlines

IIPR Price History

IIPR Company Calendar

Ex-Dividend for 4/14 Dividend
3/30/2023
Dividend Payable
4/14/2023
Last Earnings
5/08/2023
Today
6/10/2023
Next Earnings (Estimated)
8/02/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Real estate
Sub-Industry
Cannabis
Sector
Finance
Previous Symbol
NASDAQ:IIPR
Fax
N/A
Employees
18
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$126.50
High Stock Price Forecast
$179.00
Low Stock Price Forecast
$80.00
Forecasted Upside/Downside
+79.2%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.50
Research Coverage
6 Analysts

Profitability

Net Income
$154.39 million
Pretax Margin
55.72%

Debt

Sales & Book Value

Annual Sales
$276.36 million
Cash Flow
$7.62 per share
Book Value
$69.65 per share

Miscellaneous

Free Float
27,614,000
Market Cap
$1.98 billion
Optionable
Not Optionable
Beta
1.59

Key Executives

  • Paul E. SmithersPaul E. Smithers
    President, Chief Executive Officer & Director
  • Catherine HastingsCatherine Hastings
    Chief Operating Officer
  • David J. Smith
    Chief Financial Officer & Treasurer
  • Brian J. Wolfe
    Secretary, Vice President & General Counsel
  • Andy Phuong Bui
    Chief Accounting Officer & Vice President













IIPR Stock - Frequently Asked Questions

Should I buy or sell Innovative Industrial Properties stock right now?

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Innovative Industrial Properties in the last twelve months. There are currently 3 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" IIPR shares.
View IIPR analyst ratings
or view top-rated stocks.

What is Innovative Industrial Properties' stock price forecast for 2023?

6 Wall Street analysts have issued 12-month price targets for Innovative Industrial Properties' shares. Their IIPR share price forecasts range from $80.00 to $179.00. On average, they predict the company's stock price to reach $126.50 in the next twelve months. This suggests a possible upside of 79.2% from the stock's current price.
View analysts price targets for IIPR
or view top-rated stocks among Wall Street analysts.

How have IIPR shares performed in 2023?

Innovative Industrial Properties' stock was trading at $101.35 at the beginning of 2023. Since then, IIPR stock has decreased by 30.3% and is now trading at $70.61.
View the best growth stocks for 2023 here
.

Are investors shorting Innovative Industrial Properties?

Innovative Industrial Properties saw a decline in short interest in the month of May. As of May 15th, there was short interest totaling 2,320,000 shares, a decline of 15.9% from the April 30th total of 2,760,000 shares. Based on an average trading volume of 324,100 shares, the short-interest ratio is presently 7.2 days.
View Innovative Industrial Properties' Short Interest
.

When is Innovative Industrial Properties' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 2nd 2023.
View our IIPR earnings forecast
.

How were Innovative Industrial Properties' earnings last quarter?

Innovative Industrial Properties, Inc. (NYSE:IIPR) announced its quarterly earnings data on Monday, May, 8th. The company reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.89 by $0.46. The firm earned $76.07 million during the quarter, compared to analyst estimates of $70.80 million. Innovative Industrial Properties had a net margin of 55.72% and a trailing twelve-month return on equity of 8.22%.

How often does Innovative Industrial Properties pay dividends? What is the dividend yield for Innovative Industrial Properties?

Innovative Industrial Properties announced a quarterly dividend on Wednesday, March 15th. Shareholders of record on Friday, March 31st will be given a dividend of $1.80 per share on Friday, April 14th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 10.20%. The ex-dividend date is Thursday, March 30th.
Read our dividend analysis for IIPR
.

Is Innovative Industrial Properties a good dividend stock?

Innovative Industrial Properties (NYSE:IIPR) pays an annual dividend of $7.20 per share and currently has a dividend yield of 10.11%. IIPR has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 5 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 127.89%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, IIPR will have a dividend payout ratio of 86.33% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for IIPR.

What other stocks do shareholders of Innovative Industrial Properties own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Innovative Industrial Properties investors own include NVIDIA (NVDA), Alibaba Group (BABA), Aurora Cannabis (ACB), AbbVie (ABBV), PayPal (PYPL), Cronos Group (CRON), Micron Technology (MU), AT&T (T) and Walt Disney (DIS).

When did Innovative Industrial Properties IPO?

(IIPR) raised $176 million in an IPO on Thursday, December 1st 2016. The company issued 8,800,000 shares at a price of $20.00 per share. Ladenburg Thalmann and Compass Point served as the underwriters for the IPO.

What is Innovative Industrial Properties' stock symbol?

Innovative Industrial Properties trades on the New York Stock Exchange (NYSE) under the ticker symbol "IIPR."

Who are Innovative Industrial Properties' major shareholders?

Innovative Industrial Properties' stock is owned by many different retail and institutional investors. Top institutional investors include BlackRock Inc. (17.49%), Zimmer Partners LP (6.69%), State Street Corp (5.69%), ETF Managers Group LLC (1.35%), Charles Schwab Investment Management Inc. (1.25%) and Bank of New York Mellon Corp (1.14%). Insiders that own company stock include Alan D Gold, Andy Bui, Brian J Wolfe, Catherine Hastings, Gary A Kreitzer, Gary A Kreitzer, Mary A Curran, Paul E Smithers and Scott Shoemaker.
View institutional ownership trends
.

How do I buy shares of Innovative Industrial Properties?

Shares of IIPR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Innovative Industrial Properties' stock price today?

One share of IIPR stock can currently be purchased for approximately $70.61.

How much money does Innovative Industrial Properties make?

Innovative Industrial Properties (NYSE:IIPR) has a market capitalization of $1.98 billion and generates $276.36 million in revenue each year. The company earns $154.39 million in net income (profit) each year or $5.63 on an earnings per share basis.

How can I contact Innovative Industrial Properties?

Innovative Industrial Properties' mailing address is 1389 CENTER DRIVE SUITE 200, PARK CITY UT, 84098. The official website for the company is www.innovativeindustrialproperties.com. The company can be reached via phone at (858) 997-3332 or via email at ir@iipreit.com.

This page (NYSE:IIPR) was last updated on 6/10/2023 by MarketBeat.com Staff

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