Shares of Innovative Industrial Properties Inc (NYSE:IIPR) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Analysts have set a one year consensus target price of $34.00 for the company, according to Zacks. Zacks has also assigned Innovative Industrial Properties an industry rank of 239 out of 265 based on the ratings given to related companies.
IIPR has been the topic of a number of analyst reports. Ladenburg Thalmann Financial Services set a $23.00 price objective on shares of Innovative Industrial Properties and gave the company a “buy” rating in a research note on Wednesday, November 29th. Zacks Investment Research upgraded shares of Innovative Industrial Properties from a “sell” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, December 25th.
Several large investors have recently modified their holdings of IIPR. Macquarie Group Ltd. bought a new stake in shares of Innovative Industrial Properties in the fourth quarter worth $174,000. Virtu Financial LLC bought a new stake in shares of Innovative Industrial Properties in the fourth quarter worth $255,000. Acadian Asset Management LLC bought a new stake in shares of Innovative Industrial Properties in the fourth quarter worth $261,000. PVG Asset Management Corp bought a new stake in shares of Innovative Industrial Properties in the fourth quarter worth $559,000. Finally, Symmetry Peak Management LLC bought a new stake in shares of Innovative Industrial Properties in the fourth quarter worth $565,000. Institutional investors and hedge funds own 10.44% of the company’s stock.
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Innovative Industrial Properties Company Profile
Innovative Industrial Properties, Inc is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases.
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