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 twelve months. There are currently 2 hold ratings and 4 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 brokerages have issued twelve-month target prices for Innovative Industrial Properties' stock. Their IIPR share price forecasts range from $117.00 to $179.00. On average, they anticipate the company's stock price to reach $155.17 in the next year. This suggests a possible upside of 80.2% from the stock's current price.
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Innovative Industrial Properties' stock was trading at $101.35 at the beginning of 2023. Since then, IIPR stock has decreased by 15.0% and is now trading at $86.10.
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Innovative Industrial Properties saw a increase in short interest in December. As of December 30th, there was short interest totaling 2,800,000 shares, an increase of 8.5% from the December 15th total of 2,580,000 shares. Based on an average daily trading volume, of 332,200 shares, the days-to-cover ratio is presently 8.4 days.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 22nd 2023.
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Innovative Industrial Properties, Inc. (NYSE:IIPR) posted its quarterly earnings data on Wednesday, November, 2nd. The company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.92 by $0.60. The firm 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 declared a quarterly dividend on Thursday, December 15th. Stockholders of record on Friday, December 30th will be paid a dividend of $1.80 per share on Friday, January 13th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 8.36%. The ex-dividend date is Thursday, December 29th.
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 8.33%. 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 IPO 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 many different institutional and retail investors. Top institutional investors include Peregrine Capital Management LLC (0.42%), Wedge Capital Management L L P NC (0.24%), State of Alaska Department of Revenue (0.12%), Exchange Traded Concepts LLC (0.11%), Yousif Capital Management LLC (0.06%) and TrueWealth Advisors LLC (0.05%). 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 $86.10.

Innovative Industrial Properties (NYSE:IIPR) has a market capitalization of $2.41 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.