Innovative Industrial Properties Inc (NYSE:IIPR) declared a quarterly dividend on Tuesday, September 15th, Zacks reports. Investors of record on Wednesday, September 30th will be paid a dividend of 1.17 per share on Thursday, October 15th. This represents a $4.68 annualized dividend and a yield of 3.72%. The ex-dividend date is Tuesday, September 29th. This is an increase from Innovative Industrial Properties’s previous quarterly dividend of $1.06.
Shares of IIPR stock opened at $125.85 on Wednesday. Innovative Industrial Properties has a fifty-two week low of $40.21 and a fifty-two week high of $126.92. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 45.27 and a beta of 1.37. The company has a quick ratio of 115.43, a current ratio of 115.43 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average price is $116.39 and its two-hundred day moving average price is $90.99.
Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.49). The business had revenue of $24.35 million for the quarter, compared to analysts’ expectations of $25.40 million. Innovative Industrial Properties had a return on equity of 6.01% and a net margin of 55.69%. On average, equities analysts forecast that Innovative Industrial Properties will post 4.65 EPS for the current fiscal year.
Several brokerages have issued reports on IIPR. LADENBURG THALM/SH SH upped their price objective on Innovative Industrial Properties from $83.50 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Compass Point upped their price target on Innovative Industrial Properties from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Roth Capital lifted their price objective on shares of Innovative Industrial Properties from $110.00 to $120.00 in a report on Monday, July 6th. JMP Securities increased their target price on shares of Innovative Industrial Properties from $120.00 to $140.00 in a report on Monday, August 17th. Finally, Zacks Investment Research lowered shares of Innovative Industrial Properties from a “hold” rating to a “sell” rating in a report on Friday, September 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $114.00.
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 has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.
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