Roth Capital Issues Negative Estimate for IIPR Earnings

Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) - Research analysts at Roth Capital lowered their Q1 2025 earnings per share (EPS) estimates for Innovative Industrial Properties in a research report issued to clients and investors on Monday, March 31st. Roth Capital analyst W. Kirk now anticipates that the company will earn $1.91 per share for the quarter, down from their prior forecast of $1.93. The consensus estimate for Innovative Industrial Properties' current full-year earnings is $8.28 per share. Roth Capital also issued estimates for Innovative Industrial Properties' Q2 2025 earnings at $1.76 EPS.

Several other research firms have also commented on IIPR. BTIG Research lowered Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a research report on Monday, December 23rd. Industrial Alliance Securities set a $60.00 target price on Innovative Industrial Properties in a report on Tuesday, March 18th. Compass Point reiterated a "sell" rating and set a $50.00 price target (down from $60.00) on shares of Innovative Industrial Properties in a research note on Monday. Piper Sandler dropped their price objective on shares of Innovative Industrial Properties from $60.00 to $55.00 and set an "underweight" rating for the company in a report on Monday. Finally, JMP Securities reiterated a "market perform" rating on shares of Innovative Industrial Properties in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $85.00.

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Innovative Industrial Properties Trading Up 1.5 %

Shares of Innovative Industrial Properties stock traded up $0.83 on Tuesday, reaching $56.67. The company had a trading volume of 376,937 shares, compared to its average volume of 255,881. The firm's 50 day moving average price is $69.50 and its two-hundred day moving average price is $93.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32. Innovative Industrial Properties has a 52-week low of $49.51 and a 52-week high of $138.35. The firm has a market cap of $1.61 billion, a PE ratio of 10.25 and a beta of 1.49.

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 for the quarter, meeting the consensus estimate of $2.22. The company had revenue of $76.74 million for 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%.

Institutional Trading of Innovative Industrial Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in IIPR. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Innovative Industrial Properties in the fourth quarter valued at approximately $1,820,000. Montchanin Asset Management LLC raised its position in Innovative Industrial Properties by 39.8% in the 4th quarter. Montchanin Asset Management LLC now owns 10,530 shares of the company's stock valued at $702,000 after purchasing an additional 3,000 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Innovative Industrial Properties during the 4th quarter worth $34,000. Sunbelt Securities Inc. grew its position in Innovative Industrial Properties by 4.2% during the 4th quarter. Sunbelt Securities Inc. now owns 14,854 shares of the company's stock worth $1,000,000 after purchasing an additional 604 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its stake in Innovative Industrial Properties by 2,683.2% in the fourth quarter. Voloridge Investment Management LLC now owns 97,494 shares of the company's stock valued at $6,497,000 after purchasing an additional 93,991 shares during the period. Institutional investors and hedge funds own 70.58% of the company's stock.

Insider Activity at Innovative Industrial Properties

In related news, Director David Stecher sold 7,599 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $70.55, for a total value of $536,109.45. Following the transaction, the director now directly owns 1,346 shares of the company's stock, valued at $94,960.30. This trade represents a 84.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Innovative Industrial Properties Announces Dividend

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

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.