Innovative Industrial Properties (IIPR) to Release Quarterly Earnings on Wednesday

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) is projected to post its quarterly earnings results after the market closes on Wednesday, February 19th. Analysts expect Innovative Industrial Properties to post earnings of $2.22 per share and revenue of $76.21 million for the quarter. Persons that wish to register for the company's earnings conference call can do so using this link.

Innovative Industrial Properties Stock Down 1.9 %

NYSE:IIPR traded down $1.40 during mid-day trading on Friday, reaching $73.17. The stock had a trading volume of 166,436 shares, compared to its average volume of 280,641. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 13.02 and a beta of 1.40. Innovative Industrial Properties has a 1-year low of $62.45 and a 1-year high of $138.35. The stock's 50 day simple moving average is $75.38 and its two-hundred day simple moving average is $105.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.53 and a quick ratio of 11.53.

Innovative Industrial Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.90 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $7.60 dividend on an annualized basis and a yield of 10.39%. Innovative Industrial Properties's dividend payout ratio (DPR) is 135.23%.

Analysts Set New Price Targets

A number of research firms recently commented on IIPR. Piper Sandler downgraded Innovative Industrial Properties from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $118.00 to $70.00 in a research note on Friday, December 20th. Roth Capital upgraded Innovative Industrial Properties to a "strong-buy" rating in a research note on Monday, November 11th. Alliance Global Partners downgraded Innovative Industrial Properties from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 23rd. BTIG Research downgraded Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a research note on Monday, December 23rd. Finally, Compass Point downgraded Innovative Industrial Properties from a "buy" rating to a "neutral" rating and decreased their target price for the company from $125.00 to $78.00 in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $104.50.

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.