Innovative Industrial Properties (IIPR) Set to Announce Quarterly Earnings on Wednesday

Innovative Industrial Properties (NYSE:IIPR) will be releasing its earnings data after the market closes on Wednesday, May 8th. Analysts expect Innovative Industrial Properties to post earnings of $2.10 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Innovative Industrial Properties (NYSE:IIPR) last issued its earnings results on Monday, February 26th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.62). Innovative Industrial Properties had a return on equity of 8.54% and a net margin of 53.50%. The business had revenue of $79.16 million for the quarter, compared to the consensus estimate of $76.55 million.

Innovative Industrial Properties Trading Up 1.1 %

NYSE:IIPR opened at $109.48 on Monday. The firm has a 50-day simple moving average of $99.17 and a 200-day simple moving average of $92.03. Innovative Industrial Properties has a one year low of $65.16 and a one year high of $111.71. The firm has a market cap of $3.09 billion, a P/E ratio of 18.97 and a beta of 1.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 14.22 and a current ratio of 14.22.

Innovative Industrial Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date was Wednesday, March 27th. Innovative Industrial Properties’s dividend payout ratio (DPR) is 126.17%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TheStreet upgraded Innovative Industrial Properties from a “c+” rating to a “b-” rating in a research note on Wednesday, January 10th. Piper Sandler lifted their price objective on shares of Innovative Industrial Properties from $85.00 to $103.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $92.67.

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.