Innovative Industrial Properties, Inc. (NYSE:IIPR – Free Report) – Research analysts at Wolfe Research cut their Q3 2026 earnings per share estimates for shares of Innovative Industrial Properties in a research note issued on Friday, October 16th. Wolfe Research analyst A. Rosivach now expects that the company will post earnings per share of $1.58 for the quarter, down from their prior estimate of $1.84. The consensus estimate for Innovative Industrial Properties’ current full-year earnings is $6.68 per share. Wolfe Research also issued estimates for Innovative Industrial Properties’ Q4 2026 earnings at $1.68 EPS, FY2026 earnings at $6.79 EPS, Q2 2027 earnings at $1.76 EPS, Q3 2027 earnings at $1.95 EPS, Q4 2027 earnings at $1.99 EPS, FY2027 earnings at $7.36 EPS and FY2028 earnings at $7.90 EPS.
Innovative Industrial Properties (NYSE:IIPR – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.34. Innovative Industrial Properties had a net margin of 52.27% and a return on equity of 7.73%. The business had revenue of $63.31 million during the quarter, compared to the consensus estimate of $67.09 million.
IIPR has been the subject of a number of other reports. Piper Sandler decreased their price target on shares of Innovative Industrial Properties from $51.00 to $44.00 and set an “underweight” rating for the company in a report on Monday, October 12th. Weiss Ratings lowered Innovative Industrial Properties from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Stifel Nicolaus initiated coverage on Innovative Industrial Properties in a research report on Wednesday, October 14th. They set a “buy” rating and a $56.25 price objective for the company. Finally, Huntington started coverage on Innovative Industrial Properties in a research note on Friday, October 2nd. They set an “outperform” rating and a $60.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.31.
Innovative Industrial Properties Stock Performance
Shares of IIPR opened at $52.61 on Thursday. The company has a market capitalization of $1.45 billion, a PE ratio of 7.23 and a beta of 1.37. Innovative Industrial Properties has a one year low of $44.58 and a one year high of $65.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 24.51 and a quick ratio of 24.51. The company’s fifty day moving average price is $54.82 and its 200 day moving average price is $56.98.
Innovative Industrial Properties Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $1.90 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 14.4%. Innovative Industrial Properties’s dividend payout ratio is currently 172.34%.
Insider Activity
In related news, Director Scott Shoemaker sold 611 shares of Innovative Industrial Properties stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $56.36, for a total transaction of $34,435.96. Following the sale, the director directly owned 2,000 shares of the company’s stock, valued at $112,720. This trade represents a 23.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce Ives purchased 528 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average price of $56.70 per share, for a total transaction of $29,937.60. Following the completion of the purchase, the director directly owned 3,180 shares of the company’s stock, valued at approximately $180,306. This trade represents a 19.91% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.30% of the stock is owned by company insiders.
Institutional Trading of Innovative Industrial Properties
A number of hedge funds have recently modified their holdings of IIPR. CWA Asset Management Group LLC lifted its stake in Innovative Industrial Properties by 14.0% during the third quarter. CWA Asset Management Group LLC now owns 34,959 shares of the company’s stock worth $1,842,000 after purchasing an additional 4,301 shares during the period. Retirement Planning Co of New England Inc. boosted its holdings in Innovative Industrial Properties by 9.4% during the third quarter. Retirement Planning Co of New England Inc. now owns 4,579 shares of the company’s stock valued at $241,000 after purchasing an additional 395 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Innovative Industrial Properties in the 3rd quarter valued at approximately $26,000. Focus Financial Network Inc. grew its stake in shares of Innovative Industrial Properties by 4.6% in the 3rd quarter. Focus Financial Network Inc. now owns 4,602 shares of the company’s stock valued at $242,000 after purchasing an additional 204 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Innovative Industrial Properties by 26.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,833 shares of the company’s stock valued at $97,000 after purchasing an additional 382 shares during the period. Institutional investors own 70.58% of the company’s stock.
Innovative Industrial Properties Company Profile
Innovative Industrial Properties, Inc (NYSE:IIPR) is a real estate investment trust focused on the regulated cannabis industry in the United States. The company acquires, owns and manages specialized industrial properties, including cultivation, processing and manufacturing facilities used by state-licensed cannabis operators.
Innovative Industrial Properties generally leases its properties to cannabis companies under long-term, typically triple-net lease agreements. Under these arrangements, tenants are generally responsible for property-level operating expenses, while the company provides real estate capital and manages its portfolio as a landlord.
Founded in 2016, Innovative Industrial Properties has expanded through property acquisitions, sale-leaseback transactions and investments in the development or redevelopment of cannabis facilities.
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