Roth Mkm Issues Pessimistic Forecast for Innovative Industrial Properties (NYSE:IIPR) Stock Price

Innovative Industrial Properties (NYSE:IIPR) had its price target dropped by research analysts at Roth Mkm from $140.00 to $130.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s target price points to a potential upside of 78.23% from the stock’s previous close.

A number of other brokerages have also recently weighed in on IIPR. Roth Capital upgraded Innovative Industrial Properties to a “strong-buy” rating in a research report on Monday, November 11th. Compass Point cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $78.00 in a research report on Friday, December 20th. BTIG Research cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Monday, December 23rd. Piper Sandler cut Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $118.00 to $70.00 in a research report on Friday, December 20th. Finally, JMP Securities restated a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Innovative Industrial Properties currently has a consensus rating of “Hold” and an average price target of $102.00.

Innovative Industrial Properties Trading Up 0.1 %

NYSE:IIPR opened at $72.94 on Friday. The company has a quick ratio of 11.53, a current ratio of 14.32 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $72.18 and its two-hundred day moving average is $104.31. Innovative Industrial Properties has a 52 week low of $62.45 and a 52 week high of $138.35. The company has a market cap of $2.07 billion, a PE ratio of 13.19 and a beta of 1.40.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.22. The business had revenue of $76.74 million for the quarter, compared to analysts’ expectations of $76.21 million. Innovative Industrial Properties had a return on equity of 8.39% and a net margin of 52.40%. On average, analysts predict that Innovative Industrial Properties will post 8.28 EPS for the current year.

Institutional Trading of Innovative Industrial Properties

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Innovative Industrial Properties by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,423,736 shares of the company’s stock valued at $294,798,000 after purchasing an additional 64,908 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Innovative Industrial Properties during the 4th quarter valued at $42,006,000. Wellington Management Group LLP increased its position in shares of Innovative Industrial Properties by 48.6% during the 3rd quarter. Wellington Management Group LLP now owns 568,280 shares of the company’s stock valued at $76,490,000 after purchasing an additional 185,855 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Innovative Industrial Properties by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 464,553 shares of the company’s stock valued at $30,958,000 after purchasing an additional 7,179 shares during the period. Finally, Northern Trust Corp increased its position in shares of Innovative Industrial Properties by 20.6% during the 4th quarter. Northern Trust Corp now owns 435,879 shares of the company’s stock valued at $29,047,000 after purchasing an additional 74,342 shares during the period. 70.58% of the stock is currently owned by institutional investors and hedge funds.

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.