Innovative Industrial Properties (NYSE:IIPR) Trading 5.8% Higher

Innovative Industrial Properties Inc (NYSE:IIPR)’s stock price traded up 5.8% during trading on Wednesday . The stock traded as high as $91.20 and last traded at $90.87, 408,114 shares were traded during trading. A decline of 12% from the average session volume of 462,097 shares. The stock had previously closed at $85.90.

A number of equities research analysts recently weighed in on the stock. BTIG Research boosted their price target on shares of Innovative Industrial Properties to $148.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. ValuEngine lowered Innovative Industrial Properties from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. TheStreet cut Innovative Industrial Properties from a “b-” rating to a “c” rating in a research report on Wednesday, August 7th. Finally, Zacks Investment Research raised Innovative Industrial Properties from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $105.67.

The company has a market cap of $964.91 million, a PE ratio of 67.81 and a beta of 2.12. The stock has a 50 day simple moving average of $100.14 and a two-hundred day simple moving average of $95.68. The company has a debt-to-equity ratio of 0.53, a current ratio of 51.96 and a quick ratio of 51.96.



Innovative Industrial Properties (NYSE:IIPR) last announced its earnings results on Wednesday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.18). The business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.37 million. Innovative Industrial Properties had a return on equity of 5.17% and a net margin of 47.83%. The business’s revenue was up 160.0% on a year-over-year basis. During the same quarter last year, the business posted $0.31 earnings per share. As a group, equities analysts anticipate that Innovative Industrial Properties Inc will post 2.58 EPS for the current fiscal year.

In other Innovative Industrial Properties news, Chairman Alan D. Gold purchased 300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $84.23 per share, for a total transaction of $25,269.00. Following the purchase, the chairman now directly owns 318,089 shares in the company, valued at $26,792,636.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. ETF Managers Group LLC purchased a new stake in shares of Innovative Industrial Properties in the second quarter valued at about $32,784,000. Vanguard Group Inc. increased its position in Innovative Industrial Properties by 15.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,172,681 shares of the company’s stock valued at $144,896,000 after acquiring an additional 160,642 shares during the period. River & Mercantile Asset Management LLP acquired a new position in Innovative Industrial Properties in the 2nd quarter valued at about $17,235,000. Sheaff Brock Investment Advisors LLC purchased a new stake in Innovative Industrial Properties during the 2nd quarter valued at approximately $7,086,000. Finally, Penserra Capital Management LLC purchased a new stake in Innovative Industrial Properties during the 1st quarter valued at approximately $4,807,000. 57.81% of the stock is currently owned by institutional investors.

Innovative Industrial Properties Company Profile (NYSE:IIPR)

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 has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.

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