Innovative Industrial Properties (NYSE:IIPR) Raised to Strong-Buy at Roth Capital

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) was upgraded by analysts at Roth Capital to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages also recently commented on IIPR. Piper Sandler lowered their target price on Innovative Industrial Properties from $120.00 to $118.00 and set a "neutral" rating on the stock in a research note on Friday. Compass Point raised Innovative Industrial Properties from a "neutral" rating to a "buy" rating and set a $125.00 price target for the company in a report on Friday. Roth Mkm increased their target price on Innovative Industrial Properties from $115.00 to $140.00 and gave the company a "buy" rating in a report on Monday, July 22nd. Finally, Wolfe Research raised Innovative Industrial Properties to a "hold" rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $127.67.

Innovative Industrial Properties Trading Down 4.5 %

IIPR traded down $4.87 during trading on Monday, hitting $102.87. 260,049 shares of the stock were exchanged, compared to its average volume of 200,650. The firm has a 50 day simple moving average of $129.41 and a 200 day simple moving average of $118.70. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 19.18 and a beta of 1.37. Innovative Industrial Properties has a 1 year low of $73.04 and a 1 year high of $138.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 18.06 and a current ratio of 11.53.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.76). The company had revenue of $76.53 million during the quarter, compared to the consensus estimate of $77.30 million. Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. The company's revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 earnings per share. As a group, equities analysts expect that Innovative Industrial Properties will post 8.47 EPS for the current year.

Institutional Trading of Innovative Industrial Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of IIPR. USA Financial Formulas acquired a new stake in shares of Innovative Industrial Properties during the third quarter worth about $25,000. Blue Trust Inc. grew its holdings in shares of Innovative Industrial Properties by 2,085.7% during the second quarter. Blue Trust Inc. now owns 459 shares of the company's stock worth $48,000 after buying an additional 438 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Innovative Industrial Properties by 42.3% during the second quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $55,000 after buying an additional 150 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Innovative Industrial Properties by 138.1% during the second quarter. Federated Hermes Inc. now owns 538 shares of the company's stock worth $59,000 after buying an additional 312 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Innovative Industrial Properties by 75.3% during the third quarter. US Bancorp DE now owns 440 shares of the company's stock worth $59,000 after buying an additional 189 shares during the last quarter. 70.58% of the stock is currently owned by institutional investors and hedge funds.

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.