Innovative Industrial Properties (NYSE:IIPR) Now Covered by Alliance Global Partners

Equities research analysts at Alliance Global Partners initiated coverage on shares of Innovative Industrial Properties (NYSE:IIPR) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $130.00 price target on the stock. Alliance Global Partners’ target price would indicate a potential upside of 27.24% from the company’s current price.

Several other research firms also recently weighed in on IIPR. Piper Sandler decreased their price target on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Compass Point raised Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Friday, November 8th. Wolfe Research raised shares of Innovative Industrial Properties to a “hold” rating in a research report on Monday, September 23rd. Roth Capital upgraded Innovative Industrial Properties to a “strong-buy” rating in a research note on Monday, November 11th. Finally, JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a report on Monday. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Innovative Industrial Properties has a consensus rating of “Moderate Buy” and a consensus price target of $128.25.

Innovative Industrial Properties Trading Down 2.4 %

NYSE IIPR opened at $102.17 on Tuesday. The company’s 50-day simple moving average is $117.44 and its two-hundred day simple moving average is $118.44. Innovative Industrial Properties has a one year low of $87.52 and a one year high of $138.35. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 18.18 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.76). Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. The company had revenue of $76.53 million during the quarter, compared to analysts’ expectations of $77.30 million. During the same period in the previous year, the business earned $2.29 earnings per share. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts forecast that Innovative Industrial Properties will post 8.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Innovative Industrial Properties

A number of hedge funds have recently made changes to their positions in the business. Focused Wealth Management Inc boosted its holdings in shares of Innovative Industrial Properties by 2.4% in the second quarter. Focused Wealth Management Inc now owns 3,953 shares of the company’s stock worth $432,000 after buying an additional 93 shares during the period. Bristlecone Advisors LLC grew its holdings in Innovative Industrial Properties by 0.8% during the third quarter. Bristlecone Advisors LLC now owns 12,600 shares of the company’s stock valued at $1,696,000 after purchasing an additional 103 shares during the last quarter. Signaturefd LLC raised its position in shares of Innovative Industrial Properties by 42.3% in the second quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $55,000 after purchasing an additional 150 shares during the period. Dynamic Advisor Solutions LLC boosted its holdings in shares of Innovative Industrial Properties by 3.2% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 5,490 shares of the company’s stock worth $739,000 after buying an additional 168 shares during the period. Finally, USA Financial Formulas acquired a new position in Innovative Industrial Properties in the 3rd quarter valued at $25,000. Institutional investors own 70.58% of the company’s stock.

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 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.