Innovative Industrial Properties (IIPR) Expected to Announce Earnings on Wednesday

Innovative Industrial Properties (NYSE:IIPR) is expected to be posting its quarterly earnings results after the market closes on Wednesday, February 19th. Analysts expect Innovative Industrial Properties to post earnings of $2.22 per share and revenue of $76.21 million for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Innovative Industrial Properties Stock Performance

IIPR opened at $74.30 on Wednesday. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 13.22 and a beta of 1.40. Innovative Industrial Properties has a fifty-two week low of $62.45 and a fifty-two week high of $138.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53. The company has a fifty day moving average of $77.39 and a 200 day moving average of $106.80.

Innovative Industrial Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.90 per share. The ex-dividend date was Tuesday, December 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 10.23%. Innovative Industrial Properties’s payout ratio is 135.23%.

Analysts Set New Price Targets

A number of brokerages recently commented on IIPR. JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. Compass Point cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $78.00 in a report on Friday, December 20th. Alliance Global Partners lowered shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, December 23rd. Piper Sandler downgraded shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $118.00 to $70.00 in a research note on Friday, December 20th. Finally, BTIG Research lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Innovative Industrial Properties currently has a consensus rating of “Hold” and a consensus price target of $104.50.

About Innovative Industrial Properties

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.