Innovative Industrial Properties (NYSE:IIPR) Given New $130.00 Price Target at Roth Mkm

Innovative Industrial Properties (NYSE:IIPR) had its price objective cut by Roth Mkm from $140.00 to $130.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

IIPR has been the subject of a number of other reports. BTIG Research lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. Piper Sandler lowered shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $118.00 to $70.00 in a research note on Friday, December 20th. JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. Alliance Global Partners lowered shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. Finally, Roth Capital raised shares of Innovative Industrial Properties to a “strong-buy” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Innovative Industrial Properties has a consensus rating of “Hold” and a consensus price target of $102.00.

Innovative Industrial Properties Trading Up 0.1 %

IIPR stock opened at $72.94 on Friday. The company has a quick ratio of 11.53, a current ratio of 14.32 and a debt-to-equity ratio of 0.16. Innovative Industrial Properties has a twelve month low of $62.45 and a twelve month high of $138.35. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 13.19 and a beta of 1.40. The firm’s fifty day simple moving average is $72.18 and its two-hundred day simple moving average is $104.25.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.22. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. The business had revenue of $76.74 million for the quarter, compared to analysts’ expectations of $76.21 million. As a group, analysts anticipate that Innovative Industrial Properties will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 10.42%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties’s payout ratio is 137.43%.

Institutional Trading of Innovative Industrial Properties

Several hedge funds have recently modified their holdings of the company. Bogart Wealth LLC acquired a new position in shares of Innovative Industrial Properties during the fourth quarter valued at about $27,000. Canton Hathaway LLC purchased a new stake in Innovative Industrial Properties in the 3rd quarter worth approximately $55,000. Loomis Sayles & Co. L P boosted its position in Innovative Industrial Properties by 3,130.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock worth $57,000 after purchasing an additional 407 shares in the last quarter. US Bancorp DE boosted its position in Innovative Industrial Properties by 75.3% in the 3rd quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after purchasing an additional 189 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new stake in Innovative Industrial Properties in the 4th quarter worth approximately $32,000. 70.58% of the stock is owned by hedge funds and other institutional investors.

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.