JMP Securities Reiterates Market Perform Rating for Innovative Industrial Properties (NYSE:IIPR)

Innovative Industrial Properties (NYSE:IIPR)‘s stock had its “market perform” rating reiterated by stock analysts at JMP Securities in a research note issued to investors on Monday,Benzinga reports.

IIPR has been the topic of a number of other research reports. Roth Capital raised Innovative Industrial Properties to a “strong-buy” rating in a research report on Monday, November 11th. Wolfe Research raised shares of Innovative Industrial Properties to a “hold” rating in a research report on Monday, September 23rd. Piper Sandler decreased their price objective on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Finally, Compass Point raised shares of Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.67.

Innovative Industrial Properties Trading Down 0.4 %

IIPR stock traded down $0.41 during midday trading on Monday, reaching $104.31. The company’s stock had a trading volume of 17,246 shares, compared to its average volume of 201,800. The business’s 50-day simple moving average is $117.98 and its 200-day simple moving average is $118.48. The stock has a market cap of $2.96 billion, a PE ratio of 18.56 and a beta of 1.30. Innovative Industrial Properties has a 52 week low of $87.52 and a 52 week high of $138.35. The company has a quick ratio of 11.53, a current ratio of 11.53 and a debt-to-equity ratio of 0.15.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). The business had revenue of $76.53 million during the quarter, compared to analyst estimates of $77.30 million. Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. Innovative Industrial Properties’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the business earned $2.29 earnings per share. As a group, sell-side analysts expect that Innovative Industrial Properties will post 8.36 EPS for the current year.

Institutional Investors Weigh In On Innovative Industrial Properties

Hedge funds and other institutional investors have recently made changes to their positions in the stock. USA Financial Formulas bought a new stake in shares of Innovative Industrial Properties during the third quarter worth $25,000. Blue Trust Inc. boosted its holdings in shares of Innovative Industrial Properties by 2,085.7% during the 2nd quarter. Blue Trust Inc. now owns 459 shares of the company’s stock valued at $48,000 after acquiring an additional 438 shares in the last quarter. Signaturefd LLC grew its position in Innovative Industrial Properties by 42.3% during the 2nd quarter. Signaturefd LLC now owns 505 shares of the company’s stock worth $55,000 after acquiring an additional 150 shares during the last quarter. Canton Hathaway LLC bought a new position in Innovative Industrial Properties in the 3rd quarter valued at approximately $55,000. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Innovative Industrial Properties by 3,130.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock valued at $57,000 after purchasing an additional 407 shares during the period. 70.58% of the stock is owned by institutional investors.

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.