Analysts Set Innovative Industrial Properties, Inc. (NYSE:IIPR) Price Target at $102.00

Innovative Industrial Properties, Inc. (NYSE:IIPR - Get Free Report) has been assigned an average recommendation of "Hold" from the eight brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $88.00.

A number of equities analysts recently commented on IIPR shares. Industrial Alliance Securities set a $60.00 target price on Innovative Industrial Properties in a report on Tuesday. Alliance Global Partners downgraded Innovative Industrial Properties from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 23rd. BTIG Research lowered Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a research note on Monday, December 23rd. Piper Sandler decreased their target price on Innovative Industrial Properties from $70.00 to $60.00 and set an "underweight" rating on the stock in a research note on Monday. Finally, Roth Mkm dropped their price target on Innovative Industrial Properties from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, February 21st.

Insider Activity at Innovative Industrial Properties

In related news, Director David Stecher sold 7,599 shares of Innovative Industrial Properties stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $70.55, for a total transaction of $536,109.45. Following the completion of the transaction, the director now directly owns 1,346 shares of the company's stock, valued at approximately $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 accessible through the SEC website. 1.50% of the stock is currently owned by insiders.

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Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Bogart Wealth LLC purchased a new position in shares of Innovative Industrial Properties during the fourth quarter valued at $27,000. Compass Financial Services Inc bought a new stake in shares of Innovative Industrial Properties in the 4th quarter valued at about $32,000. GF Fund Management CO. LTD. bought a new position in Innovative Industrial Properties in the fourth quarter worth approximately $34,000. Smartleaf Asset Management LLC lifted its holdings in Innovative Industrial Properties by 182.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the company's stock worth $43,000 after buying an additional 417 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Innovative Industrial Properties during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 70.58% of the company's stock.

Innovative Industrial Properties Stock Performance

IIPR stock traded down $0.48 during trading on Monday, reaching $63.40. The stock had a trading volume of 333,858 shares, compared to its average volume of 323,482. The firm has a market cap of $1.80 billion, a PE ratio of 11.46 and a beta of 1.49. The company has a current ratio of 14.32, a quick ratio of 11.53 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average is $70.45 and its two-hundred day moving average is $98.12. Innovative Industrial Properties has a 52 week low of $62.45 and a 52 week high of $138.35.

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

Innovative Industrial Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.90 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 11.99%. Innovative Industrial Properties's payout ratio is currently 137.43%.

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.