Innovative Industrial Properties (IIPR) Projected to Post Earnings on Wednesday

Innovative Industrial Properties (NYSE:IIPR) is projected to issue its quarterly earnings data after the market closes on Wednesday, February 19th. Analysts expect the company to announce earnings of $2.22 per share and revenue of $76.21 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Innovative Industrial Properties Trading Down 1.9 %

Shares of IIPR stock opened at $73.17 on Monday. Innovative Industrial Properties has a 1 year low of $62.45 and a 1 year high of $138.35. The firm’s fifty day simple moving average is $75.38 and its 200 day simple moving average is $105.75. The firm has a market capitalization of $2.07 billion, a P/E ratio of 13.02 and a beta of 1.40. The company has a current ratio of 11.53, a quick ratio of 11.53 and a debt-to-equity ratio of 0.15.

Innovative Industrial Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 10.39%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 135.23%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on IIPR shares. 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. JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a report on Monday, December 16th. BTIG Research lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Piper Sandler lowered shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $118.00 to $70.00 in a report on Friday, December 20th. Finally, Compass Point lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating and lowered their price target for the company from $125.00 to $78.00 in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $104.50.

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.