Innovative Industrial Properties - IIPR Stock Forecast, Price & News

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Innovative Industrial Properties in the last year. 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.
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6 Wall Street analysts have issued 12-month price targets for Innovative Industrial Properties' shares. Their IIPR share price forecasts range from $120.00 to $179.00. On average, they expect the company's stock price to reach $153.17 in the next twelve months. This suggests a possible upside of 101.6% from the stock's current price.
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Innovative Industrial Properties' stock was trading at $101.35 at the start of the year. Since then, IIPR shares have decreased by 25.0% and is now trading at $75.99.
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Innovative Industrial Properties saw a decrease in short interest in the month of March. As of March 15th, there was short interest totaling 2,600,000 shares, a decrease of 5.8% from the February 28th total of 2,760,000 shares. Based on an average trading volume of 363,400 shares, the short-interest ratio is presently 7.2 days.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023.
View our IIPR earnings forecast.

Innovative Industrial Properties, Inc. (NYSE:IIPR) released its quarterly earnings results on Monday, February, 27th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by $0.34. The business earned $70.46 million during the quarter, compared to the consensus estimate of $68.60 million. Innovative Industrial Properties had a net margin of 55.86% and a trailing twelve-month return on equity of 8.24%.

Innovative Industrial Properties declared a quarterly dividend on Wednesday, March 15th. Stockholders of record on Friday, March 31st will be paid a dividend of $1.80 per share on Friday, April 14th. This represents a $7.20 annualized dividend and a dividend yield of 9.47%. The ex-dividend date of this dividend is Thursday, March 30th.
Read our dividend analysis for IIPR.

ETFs with the largest weight of Innovative Industrial Properties (NYSE:IIPR) stock in their portfolio include ETFMG U.S. Alternative Harvest ETF (MJUS), Global X Cannabis ETF (POTX), AdvisorShares Pure Cannabis ETF (YOLO), Cambria Cannabis ETF (TOKE), Amplify Seymour Cannabis ETF (CNBS), NETLease Corporate Real Estate ETF (NETL), Invesco KBW Premium Yield Equity REIT ETF (KBWY) and ALPS REIT Dividend Dogs ETF (RDOG).

Innovative Industrial Properties (NYSE:IIPR) pays an annual dividend of $7.20 per share and currently has a dividend yield of 9.42%. 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 130.43%. 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 88.45% 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 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 acted as the underwriters for the IPO.

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

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 $75.99.

Innovative Industrial Properties (NYSE:IIPR) has a market capitalization of $2.13 billion and generates $276.36 million in revenue each year. The company earns $154.39 million in net income (profit) each year or $5.52 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.