Shares of Innovative Industrial Properties Inc (NYSE:IIPR) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus price objective of $47.50 for the company, according to Zacks. Zacks has also given Innovative Industrial Properties an industry rank of 157 out of 255 based on the ratings given to related companies.
Several research firms recently issued reports on IIPR. Zacks Investment Research raised shares of Innovative Industrial Properties from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $48.00 price target on shares of Innovative Industrial Properties in a research report on Monday.
NYSE:IIPR traded down $0.17 during mid-day trading on Tuesday, hitting $42.33. The company’s stock had a trading volume of 246 shares, compared to its average volume of 154,363. Innovative Industrial Properties has a fifty-two week low of $17.21 and a fifty-two week high of $46.27. The firm has a market capitalization of $283.99 million, a PE ratio of 63.43 and a beta of -0.46.
Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings results on Friday, August 10th. The company reported $0.17 earnings per share (EPS) for the quarter. Innovative Industrial Properties had a net margin of 31.15% and a return on equity of 3.13%. The firm had revenue of $3.31 million during the quarter. equities research analysts expect that Innovative Industrial Properties will post 1.19 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Innovative Industrial Properties during the second quarter worth approximately $105,000. IFP Advisors Inc increased its holdings in shares of Innovative Industrial Properties by 306.3% during the first quarter. IFP Advisors Inc now owns 6,135 shares of the company’s stock worth $164,000 after buying an additional 4,625 shares in the last quarter. Van Hulzen Asset Management LLC acquired a new stake in shares of Innovative Industrial Properties during the second quarter worth approximately $205,000. Rhumbline Advisers acquired a new stake in shares of Innovative Industrial Properties during the second quarter worth approximately $229,000. Finally, Element Capital Management LLC acquired a new stake in shares of Innovative Industrial Properties during the first quarter worth approximately $204,000. 51.11% of the stock is owned by institutional investors.
Innovative Industrial Properties Company Profile
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 intends to elect to be taxed as a real estate investment trust.
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