Innovative Industrial Properties (NYSE:IIPR) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Innovative Industrial Properties (NYSE:IIPR – Get Rating) in a report released on Thursday morning. The firm issued a hold rating on the stock.

Several other equities analysts also recently commented on the stock. Piper Sandler decreased their price objective on shares of Innovative Industrial Properties from $140.00 to $120.00 and set an overweight rating on the stock in a report on Wednesday, March 1st. BTIG Research reduced their target price on shares of Innovative Industrial Properties from $196.00 to $179.00 and set a buy rating for the company in a research report on Tuesday, January 24th. TheStreet cut shares of Innovative Industrial Properties from a b- rating to a c+ rating in a research report on Monday, February 27th. Craig Hallum reduced their target price on shares of Innovative Industrial Properties from $140.00 to $125.00 in a research report on Wednesday, March 1st. Finally, JMP Securities cut shares of Innovative Industrial Properties from an outperform rating to a market perform rating in a research report on Friday, January 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $153.17.

Innovative Industrial Properties Price Performance

NYSE:IIPR opened at $80.26 on Thursday. Innovative Industrial Properties has a one year low of $78.61 and a one year high of $211.17. The company has a market cap of $2.25 billion, a P/E ratio of 14.54 and a beta of 1.60. The firm’s fifty day moving average price is $90.34 and its two-hundred day moving average price is $98.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 27.14 and a quick ratio of 27.14.

Innovative Industrial Properties (NYSE:IIPR – Get Rating) last released its quarterly earnings data on Monday, February 27th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.34). Innovative Industrial Properties had a net margin of 55.86% and a return on equity of 8.24%. The company had revenue of $70.46 million during the quarter, compared to analyst estimates of $68.60 million. Equities analysts expect that Innovative Industrial Properties will post 7.75 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $7.20 annualized dividend and a yield of 8.97%. Innovative Industrial Properties’s dividend payout ratio is 130.43%.

Institutional Investors Weigh In On Innovative Industrial Properties

Institutional investors and hedge funds have recently bought and sold shares of the company. Heritage Wealth Management LLC bought a new stake in Innovative Industrial Properties during the second quarter worth about $25,000. Lazard Asset Management LLC lifted its position in Innovative Industrial Properties by 112.9% during the first quarter. Lazard Asset Management LLC now owns 396 shares of the company’s stock worth $81,000 after purchasing an additional 210 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Innovative Industrial Properties by 4,545.5% in the fourth quarter. CENTRAL TRUST Co now owns 511 shares of the company’s stock worth $52,000 after acquiring an additional 500 shares during the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Innovative Industrial Properties by 61.4% in the first quarter. Centaurus Financial Inc. now owns 649 shares of the company’s stock worth $133,000 after acquiring an additional 247 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Innovative Industrial Properties by 63.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 682 shares of the company’s stock worth $69,000 after acquiring an additional 264 shares during the last quarter. Institutional investors own 73.71% of the company’s stock.

Innovative Industrial Properties Company Profile

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Innovative Industrial Properties, Inc is a real estate investment trust, which engages in the acquisition, ownership, and management of industrial properties. It operates through the following geographical segments: Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington.