Innovative Industrial Properties, Inc. (IIPR) To Go Ex-Dividend on March 31st

Innovative Industrial Properties, Inc. (NYSE:IIPR) declared a quarterly dividend on Friday, March 13th. Investors of record on Tuesday, March 31st will be given a dividend of 1.90 per share on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 14.9%. The ex-dividend date of this dividend is Tuesday, March 31st.

Innovative Industrial Properties has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Innovative Industrial Properties has a payout ratio of 176.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Innovative Industrial Properties to earn $8.84 per share next year, which means the company should continue to be able to cover its $7.60 annual dividend with an expected future payout ratio of 86.0%.

Innovative Industrial Properties Trading Down 2.2%

Shares of Innovative Industrial Properties stock opened at $50.95 on Friday. Innovative Industrial Properties has a fifty-two week low of $44.58 and a fifty-two week high of $65.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.38 and a current ratio of 4.38. The company has a market capitalization of $1.43 billion, a P/E ratio of 13.00 and a beta of 1.45. The company has a fifty day moving average of $50.47 and a 200 day moving average of $51.60.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings results on Monday, February 23rd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.17. The business had revenue of $66.66 million for the quarter, compared to analysts’ expectations of $66.16 million. Innovative Industrial Properties had a return on equity of 6.43% and a net margin of 44.46%.The business’s quarterly revenue was down 13.1% on a year-over-year basis. During the same period last year, the firm earned $2.03 earnings per share. On average, sell-side analysts anticipate that Innovative Industrial Properties will post 8.28 earnings per share for the current fiscal year.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.