Innovative Industrial Properties, Inc. (NYSE:IIPR) Chairman Alan D. Gold sold 566 shares of the stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $35.80, for a total value of $20,262.80. Following the completion of the transaction, the chairman now owns 42,011 shares of the company’s stock, valued at approximately $1,503,993.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Innovative Industrial Properties stock opened at $191.26 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 280.52 and a quick ratio of 280.52. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 53.88 and a beta of 1.44. Innovative Industrial Properties, Inc. has a fifty-two week low of $85.40 and a fifty-two week high of $222.08. The firm has a fifty day moving average price of $181.20.
Innovative Industrial Properties (NYSE:IIPR) last posted its earnings results on Wednesday, May 5th. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.08. Innovative Industrial Properties had a return on equity of 6.11% and a net margin of 57.54%. On average, equities research analysts anticipate that Innovative Industrial Properties, Inc. will post 6.59 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Total Clarity Wealth Management Inc. acquired a new stake in shares of Innovative Industrial Properties during the first quarter valued at $30,000. Inspire Advisors LLC purchased a new position in Innovative Industrial Properties during the fourth quarter worth about $32,000. Cordasco Financial Network purchased a new position in Innovative Industrial Properties during the first quarter worth about $36,000. Rockbridge Investment Management LCC purchased a new position in Innovative Industrial Properties during the first quarter worth about $37,000. Finally, Ameritas Investment Company LLC purchased a new position in Innovative Industrial Properties during the first quarter worth about $38,000. 76.40% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research cut Innovative Industrial Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, March 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $188.63.
Innovative Industrial Properties Company Profile
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 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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