Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Get Free Report) have been given an average rating of "Hold" by the eight research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $102.00.
IIPR has been the subject of a number of recent analyst reports. Roth Capital upgraded Innovative Industrial Properties to a "strong-buy" rating in a report on Monday, November 11th. Roth Mkm decreased their target price on Innovative Industrial Properties from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Friday. BTIG Research lowered Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a research report on Monday, December 23rd. JMP Securities reissued a "market perform" rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Finally, Piper Sandler cut shares of Innovative Industrial Properties from a "neutral" rating to an "underweight" rating and dropped their target price for the company from $118.00 to $70.00 in a report on Friday, December 20th.
View Our Latest Report on IIPR
Institutional Trading of Innovative Industrial Properties
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Innovative Industrial Properties by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 4,423,736 shares of the company's stock valued at $294,798,000 after buying an additional 64,908 shares during the period. Pacer Advisors Inc. bought a new position in shares of Innovative Industrial Properties in the fourth quarter worth about $42,006,000. Wellington Management Group LLP lifted its position in shares of Innovative Industrial Properties by 48.6% during the 3rd quarter. Wellington Management Group LLP now owns 568,280 shares of the company's stock valued at $76,490,000 after buying an additional 185,855 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Innovative Industrial Properties by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,553 shares of the company's stock valued at $30,958,000 after acquiring an additional 7,179 shares during the period. Finally, Northern Trust Corp increased its holdings in Innovative Industrial Properties by 20.6% in the 4th quarter. Northern Trust Corp now owns 435,879 shares of the company's stock worth $29,047,000 after acquiring an additional 74,342 shares in the last quarter. 70.58% of the stock is currently owned by institutional investors.
Innovative Industrial Properties Trading Up 0.1 %
Innovative Industrial Properties stock traded up $0.07 during trading hours on Thursday, reaching $72.94. The stock had a trading volume of 580,672 shares, compared to its average volume of 288,285. The company has a fifty day simple moving average of $72.18 and a 200-day simple moving average of $104.38. Innovative Industrial Properties has a 52 week low of $62.45 and a 52 week high of $138.35. The stock has a market cap of $2.07 billion, a PE ratio of 13.19 and a beta of 1.40. 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 (NYSE:IIPR - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.22. Innovative Industrial Properties had a return on equity of 8.37% and a net margin of 52.40%. The company had revenue of $76.74 million for the quarter, compared to analysts' expectations of $76.21 million. Analysts forecast that Innovative Industrial Properties will post 8.28 EPS for the current fiscal year.
Innovative Industrial Properties Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 10.42%. The ex-dividend date of this dividend was Tuesday, December 31st. Innovative Industrial Properties's dividend payout ratio is currently 137.43%.
Innovative Industrial Properties Company Profile
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Get Free ReportInnovative 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.
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