Shares of Innovative Industrial Properties Inc (NYSE:IIPR) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokerages have set a twelve-month consensus price target of $34.00 for the company, according to Zacks. Zacks has also given Innovative Industrial Properties an industry rank of 225 out of 265 based on the ratings given to related companies.
Several research analysts have commented on IIPR shares. Zacks Investment Research raised shares of Innovative Industrial Properties from a “sell” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Monday, December 25th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $34.00 price objective (up from $23.00) on shares of Innovative Industrial Properties in a research note on Wednesday, January 24th.
Innovative Industrial Properties (NYSE:IIPR) last posted its earnings results on Wednesday, March 28th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). The business had revenue of $2.28 million during the quarter. Innovative Industrial Properties had a negative net margin of 1.12% and a negative return on equity of 0.12%. research analysts predict that Innovative Industrial Properties will post 1.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.74%. The ex-dividend date is Wednesday, March 28th. Innovative Industrial Properties’s payout ratio is 149.25%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new stake in shares of Innovative Industrial Properties during the fourth quarter valued at $174,000. Virtu Financial LLC purchased a new stake in shares of Innovative Industrial Properties during the fourth quarter valued at $255,000. Acadian Asset Management LLC purchased a new stake in shares of Innovative Industrial Properties during the fourth quarter valued at $261,000. PVG Asset Management Corp purchased a new stake in shares of Innovative Industrial Properties during the fourth quarter valued at $559,000. Finally, Symmetry Peak Management LLC purchased a new stake in shares of Innovative Industrial Properties during the fourth quarter valued at $565,000. 10.44% of the stock is owned by institutional investors.
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About Innovative Industrial Properties
Innovative Industrial Properties, Inc is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases.
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