Innovative Industrial Properties (NYSE:IIPR) Earns "Sell" Rating from Compass Point

Compass Point reissued their sell rating on shares of Innovative Industrial Properties (NYSE:IIPR - Free Report) in a research note published on Monday, Marketbeat Ratings reports. They currently have a $50.00 price target on the stock, down from their prior price target of $60.00.

A number of other equities analysts have also recently weighed in on the company. BTIG Research cut Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a report on Monday, December 23rd. Alliance Global Partners cut shares of Innovative Industrial Properties from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 23rd. Piper Sandler reduced their target price on Innovative Industrial Properties from $70.00 to $60.00 and set an "underweight" rating for the company in a report on Monday, March 17th. Industrial Alliance Securities set a $60.00 price objective on Innovative Industrial Properties in a research note on Tuesday, March 18th. Finally, JMP Securities reiterated a "market perform" rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $85.00.

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Innovative Industrial Properties Stock Up 1.5 %

IIPR stock traded up $0.83 during trading on Monday, hitting $56.67. 376,937 shares of the company's stock traded hands, compared to its average volume of 255,881. Innovative Industrial Properties has a 1 year low of $49.51 and a 1 year high of $138.35. The business has a fifty day simple moving average of $69.50 and a two-hundred day simple moving average of $93.77. The firm has a market capitalization of $1.61 billion, a P/E ratio of 10.25 and a beta of 1.49. The company has a quick ratio of 11.53, a current ratio of 14.32 and a debt-to-equity ratio of 0.16.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 EPS for the quarter, meeting the consensus estimate of $2.22. The business had revenue of $76.74 million during the quarter, compared to analyst estimates of $76.21 million. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. Sell-side analysts anticipate that Innovative Industrial Properties will post 8.28 EPS for the current year.

Innovative Industrial Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 13.41%. The ex-dividend date of this dividend is Monday, March 31st. Innovative Industrial Properties's dividend payout ratio (DPR) is 137.43%.

Insider Activity

In other Innovative Industrial Properties news, Director David Stecher sold 7,599 shares of Innovative Industrial Properties stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $70.55, for a total transaction of $536,109.45. Following the sale, the director now directly owns 1,346 shares in the company, valued at $94,960.30. The trade was a 84.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bogart Wealth LLC acquired a new stake in Innovative Industrial Properties during the fourth quarter worth about $27,000. Compass Financial Services Inc bought a new stake in shares of Innovative Industrial Properties during the fourth quarter valued at approximately $32,000. GF Fund Management CO. LTD. acquired a new position in shares of Innovative Industrial Properties during the fourth quarter worth approximately $34,000. Smartleaf Asset Management LLC increased its position in Innovative Industrial Properties by 182.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the company's stock valued at $43,000 after acquiring an additional 417 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Innovative Industrial Properties during the 4th quarter worth $50,000. Institutional investors own 70.58% of the company's stock.

Innovative Industrial Properties Company Profile

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.