Innovative Industrial Properties - IIPR Stock Forecast, Price & News

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Innovative Industrial Properties in the last year. There are currently 1 hold rating and 5 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" IIPR shares.
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6 analysts have issued 12 month price targets for Innovative Industrial Properties' shares. Their IIPR share price forecasts range from $117.00 to $248.00. On average, they expect the company's share price to reach $166.67 in the next year. This suggests a possible upside of 42.7% from the stock's current price.
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Innovative Industrial Properties' stock was trading at $262.91 at the beginning of the year. Since then, IIPR stock has decreased by 55.6% and is now trading at $116.79.
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Innovative Industrial Properties saw a increase in short interest during the month of October. As of October 31st, there was short interest totaling 2,310,000 shares, an increase of 8.5% from the October 15th total of 2,130,000 shares. Based on an average trading volume of 343,400 shares, the short-interest ratio is presently 6.7 days.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 22nd 2023.
View our IIPR earnings forecast.

Innovative Industrial Properties, Inc. (NYSE:IIPR) posted its earnings results on Wednesday, November, 2nd. The company reported $1.32 earnings per share for the quarter, missing analysts' consensus estimates of $1.92 by $0.60. The business had revenue of $70.88 million for the quarter, compared to analysts' expectations of $68.60 million. Innovative Industrial Properties had a trailing twelve-month return on equity of 7.92% and a net margin of 53.43%.

Innovative Industrial Properties announced a quarterly dividend on Thursday, September 15th. Stockholders of record on Friday, September 30th will be paid a dividend of $1.80 per share on Friday, October 14th. This represents a $7.20 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date of this dividend is Thursday, September 29th. This is an increase from the stock's previous quarterly dividend of $1.75.
Read our dividend analysis for IIPR.

Innovative Industrial Properties (NYSE:IIPR) pays an annual dividend of $7.20 per share and currently has a dividend yield of 6.25%. 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 138.46%. 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 89.55% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for IIPR.

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).

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

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

Innovative Industrial Properties' stock is owned by a number of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (17.29%), Vanguard Group Inc. (15.97%), State Street Corp (5.49%), Nuveen Asset Management LLC (1.14%), Bank of New York Mellon Corp (1.00%) and Bank of New York Mellon Corp (1.00%). 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.
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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.
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One share of IIPR stock can currently be purchased for approximately $116.79.

Innovative Industrial Properties (NYSE:IIPR) has a market capitalization of $3.27 billion and generates $204.55 million in revenue each year. The company earns $113.99 million in net income (profit) each year or $5.20 on an earnings per share basis.

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.