Innovative Industrial Properties (NYSE:IIPR) Lifted to “Buy” at Zacks Investment Research

Innovative Industrial Properties (NYSE:IIPR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, January 9th. The firm currently has a $33.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.09% from the stock’s previous close.

According to Zacks, “Innovative Industrial Properties, Inc. is a real estate investment trust. It focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for medical-use cannabis facilities. Innovative Industrial Properties, Inc. is based in San Diego, United States. “

Separately, Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Innovative Industrial Properties in a research note on Friday, October 20th.

Shares of Innovative Industrial Properties (NYSE IIPR) opened at $30.25 on Tuesday. Innovative Industrial Properties has a 1-year low of $15.45 and a 1-year high of $36.88. The stock has a market capitalization of $105.91 and a price-to-earnings ratio of -10.02.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The business had revenue of $1.56 million during the quarter. Innovative Industrial Properties had a negative return on equity of 8.09% and a negative net margin of 108.39%. equities analysts expect that Innovative Industrial Properties will post 0.18 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Innovative Industrial Properties stock. NBW Capital LLC raised its holdings in Innovative Industrial Properties Inc (NYSE:IIPR) by 8.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,160 shares of the company’s stock after acquiring an additional 3,479 shares during the period. NBW Capital LLC owned approximately 1.29% of Innovative Industrial Properties worth $756,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.60% 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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