Innovative Industrial Properties, Inc. (NYSE:IIPR) Receives $78.67 Consensus PT from Analysts

Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) have earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $78.6667.

Separately, Weiss Ratings upgraded Innovative Industrial Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IIPR. Flaharty Asset Management LLC purchased a new position in shares of Innovative Industrial Properties during the first quarter valued at about $27,000. West Oak Capital LLC purchased a new position in shares of Innovative Industrial Properties during the third quarter valued at about $27,000. AdvisorNet Financial Inc grew its position in shares of Innovative Industrial Properties by 50.3% during the second quarter. AdvisorNet Financial Inc now owns 559 shares of the company’s stock valued at $31,000 after purchasing an additional 187 shares in the last quarter. SSA Swiss Advisors AG bought a new position in shares of Innovative Industrial Properties in the 1st quarter valued at about $33,000. Finally, Signaturefd LLC lifted its holdings in shares of Innovative Industrial Properties by 49.7% in the 1st quarter. Signaturefd LLC now owns 756 shares of the company’s stock valued at $41,000 after acquiring an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Trading Down 1.2%

Shares of IIPR stock opened at $49.54 on Tuesday. Innovative Industrial Properties has a 52-week low of $45.44 and a 52-week high of $134.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.30 and a current ratio of 10.30. The firm has a market capitalization of $1.39 billion, a PE ratio of 10.72 and a beta of 1.64. The stock has a fifty day simple moving average of $54.77 and a two-hundred day simple moving average of $54.63.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Monday, November 3rd. The company reported $1.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.02). Innovative Industrial Properties had a return on equity of 7.26% and a net margin of 47.71%.During the same period in the previous year, the business posted $2.25 earnings per share. The company’s quarterly revenue was down 15.4% on a year-over-year basis. On average, analysts predict that Innovative Industrial Properties will post 8.28 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.90 per share. The ex-dividend date was Tuesday, September 30th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 15.3%. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 164.50%.

About Innovative Industrial Properties

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 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.