Innovative Industrial Properties Inc (NYSE:IIPR) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12 month consensus price objective of $34.00 for the company, according to Zacks. Zacks has also given Innovative Industrial Properties an industry rank of 228 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently issued reports on the company. Zacks Investment Research cut Innovative Industrial Properties from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $34.00 price target (up from $23.00) on shares of Innovative Industrial Properties in a research note on Wednesday, January 24th.
Shares of Innovative Industrial Properties (IIPR) traded up $0.75 during mid-day trading on Tuesday, hitting $26.64. The company had a trading volume of 12,705 shares, compared to its average volume of 342,520. The company has a market capitalization of $168.53, a PE ratio of -8.72 and a beta of -4.52. Innovative Industrial Properties has a fifty-two week low of $15.45 and a fifty-two week high of $36.88.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $0.25 dividend. This is a boost from Innovative Industrial Properties’s previous quarterly dividend of $0.15. This represents a $1.00 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, December 28th. Innovative Industrial Properties’s payout ratio is -33.11%.
Innovative Industrial Properties Company Profile
Innovative Industrial Properties, Inc is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases.
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