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NYSE:IIPR

Innovative Industrial Properties - IIPR Stock Forecast, Price & News

$102.05
-0.73 (-0.71%)
(As of 08/18/2022 03:52 PM ET)
Add
Compare
Today's Range
$101.31
$107.55
50-Day Range
$89.04
$130.43
52-Week Range
$88.38
$288.02
Volume
9,324 shs
Average Volume
299,978 shs
Market Capitalization
$2.85 billion
P/E Ratio
20.09
Dividend Yield
6.69%
Price Target
$151.60

Innovative Industrial Properties MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.67 Rating Score
Upside/​Downside
48.4% Upside
$151.60 Price Target
Short Interest
Bearish
8.08% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
N/A
News Sentiment
1.11mentions of Innovative Industrial Properties in the last 14 days
Based on 4 Articles This Week
Insider Trading
Acquiring Shares
$94,220 Bought Last Quarter
Proj. Earnings Growth
12.15%
From $7.82 to $8.77 Per Share

Overall MarketRank

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

3.19 out of 5 stars

Finance Sector

26th out of 932 stocks

Real Estate Industry

1st out of 25 stocks

IIPR stock logo

About Innovative Industrial Properties (NYSE:IIPR) Stock

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.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IIPR shares. Piper Sandler decreased their price target on shares of Innovative Industrial Properties from $160.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, August 8th. BTIG Research decreased their price target on shares of Innovative Industrial Properties from $290.00 to $248.00 and set a "buy" rating on the stock in a research note on Friday, July 15th. Craig Hallum decreased their price target on shares of Innovative Industrial Properties from $175.00 to $125.00 in a research note on Monday, July 18th. Compass Point downgraded shares of Innovative Industrial Properties from a "buy" rating to a "neutral" rating and set a $100.00 price target on the stock. in a research note on Monday, August 8th. Finally, Wolfe Research downgraded shares of Innovative Industrial Properties from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $151.60.

Innovative Industrial Properties Price Performance

Innovative Industrial Properties stock traded down $1.03 during trading hours on Thursday, reaching $101.75. 7,700 shares of the stock were exchanged, compared to its average volume of 299,978. The company has a market cap of $2.85 billion, a P/E ratio of 20.23 and a beta of 1.63. The company has a current ratio of 55.21, a quick ratio of 55.21 and a debt-to-equity ratio of 0.15. Innovative Industrial Properties has a twelve month low of $88.38 and a twelve month high of $288.02. The stock has a 50 day moving average of $105.16 and a two-hundred day moving average of $147.67.

Innovative Industrial Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $1.75 per share. The ex-dividend date was Wednesday, June 29th. This represents a $7.00 dividend on an annualized basis and a yield of 6.88%. Innovative Industrial Properties's payout ratio is 137.80%.

Insiders Place Their Bets

In related news, Chairman Alan D. Gold purchased 1,000 shares of Innovative Industrial Properties stock in a transaction dated Wednesday, August 10th. The shares were bought at an average cost of $94.22 per share, for a total transaction of $94,220.00. Following the purchase, the chairman now owns 212,308 shares in the company, valued at approximately $20,003,659.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.50% of the company's stock.

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IIPR Stock News Headlines

Innovative Industrial Properties Slips 11%
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IIPR Company Calendar

Last Earnings
11/03/2021
Ex-Dividend for 7/15 Dividend
6/29/2022
Dividend Payable
7/15/2022
Today
8/18/2022
Next Earnings (Estimated)
11/02/2022
Fiscal Year End
12/31/2022

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
$151.60
High Stock Price Forecast
$248.00
Low Stock Price Forecast
$100.00
Forecasted Upside/Downside
+48.6%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.67
Research Coverage
6 Analysts

Profitability

Net Income
$113.99 million
Pretax Margin
54.07%

Debt

Sales & Book Value

Annual Sales
$204.55 million
Cash Flow
$6.02 per share
Book Value
$70.13 per share

Miscellaneous

Free Float
27,553,000
Market Cap
$2.85 billion
Optionable
Not Optionable
Beta
1.63














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 2 hold ratings and 4 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 2022?

6 Wall Street research analysts have issued 1-year target prices for Innovative Industrial Properties' stock. Their IIPR share price forecasts range from $100.00 to $248.00. On average, they anticipate the company's stock price to reach $151.60 in the next twelve months. This suggests a possible upside of 47.5% 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 2022?

Innovative Industrial Properties' stock was trading at $262.91 at the beginning of the year. Since then, IIPR stock has decreased by 60.9% and is now trading at $102.78.
View the best growth stocks for 2022 here
.

Are investors shorting Innovative Industrial Properties?

Innovative Industrial Properties saw a increase in short interest during the month of June. As of June 30th, there was short interest totaling 2,210,000 shares, an increase of 26.3% from the June 15th total of 1,750,000 shares. Based on an average daily trading volume, of 324,100 shares, the days-to-cover ratio is currently 6.8 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, November 2nd 2022.
View our IIPR earnings forecast
.

How were Innovative Industrial Properties' earnings last quarter?

Innovative Industrial Properties, Inc. (NYSE:IIPR) released its quarterly earnings results on Wednesday, November, 3rd. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.04. The business earned $53.86 million during the quarter, compared to analysts' expectations of $52.80 million. Innovative Industrial Properties had a net margin of 54.07% and a trailing twelve-month return on equity of 8.01%.

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

Innovative Industrial Properties declared a quarterly dividend on Wednesday, June 15th. Investors of record on Thursday, June 30th will be paid a dividend of $1.75 per share on Friday, July 15th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date is Wednesday, June 29th.
Read our dividend analysis for IIPR
.

Is Innovative Industrial Properties a good dividend stock?

Innovative Industrial Properties (NYSE:IIPR) pays an annual dividend of $7.00 per share and currently has a dividend yield of 6.69%. 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 137.80%. 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 79.82% 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 initial public offering 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 institutional and retail investors. Top institutional investors include State Street Corp (5.84%), Northern Trust Corp (1.25%), Copeland Capital Management LLC (1.07%), Massachusetts Financial Services Co. MA (0.94%), AdvisorShares Investments LLC (0.76%) and Principal Financial Group Inc. (0.63%). 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 $102.78.

How much money does Innovative Industrial Properties make?

Innovative Industrial Properties (NYSE:IIPR) has a market capitalization of $2.87 billion and generates $204.55 million in revenue each year. The company earns $113.99 million in net income (profit) each year or $5.08 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 8/18/2022 by MarketBeat.com Staff

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