Innovative Industrial Properties Inc (NYSE:IIPR) Chairman Alan D. Gold purchased 300 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $84.23 per share, for a total transaction of $25,269.00. Following the acquisition, the chairman now owns 318,089 shares of the company’s stock, valued at $26,792,636.47. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Shares of IIPR stock traded down $4.95 during mid-day trading on Friday, reaching $83.30. 995,926 shares of the company’s stock traded hands, compared to its average volume of 462,434. Innovative Industrial Properties Inc has a 12 month low of $39.45 and a 12 month high of $139.53. The company has a market cap of $1.02 billion, a P/E ratio of 62.16 and a beta of 2.12. The company has a quick ratio of 51.96, a current ratio of 51.96 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $104.15 and its 200-day moving average price is $95.13.
Innovative Industrial Properties (NYSE:IIPR) last announced its earnings results on Wednesday, August 7th. The company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.18). Innovative Industrial Properties had a net margin of 47.83% and a return on equity of 5.17%. The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.37 million. During the same quarter last year, the firm posted $0.31 EPS. The business’s quarterly revenue was up 160.0% on a year-over-year basis. Equities analysts predict that Innovative Industrial Properties Inc will post 2.58 earnings per share for the current year.
Several analysts recently weighed in on the stock. ValuEngine cut shares of Innovative Industrial Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BTIG Research lifted their price target on shares of Innovative Industrial Properties to $148.00 and gave the company a “buy” rating in a report on Thursday, June 20th. TheStreet cut shares of Innovative Industrial Properties from a “b-” rating to a “c” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded shares of Innovative Industrial Properties from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $91.25.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use 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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