Analysts Anticipate Innovative Industrial Properties, Inc. (NYSE:IIPR) to Post $2.01 EPS

Brokerages predict that Innovative Industrial Properties, Inc. (NYSE:IIPRGet Rating) will post $2.01 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Innovative Industrial Properties’ earnings. Innovative Industrial Properties reported earnings per share of $1.47 during the same quarter last year, which would suggest a positive year-over-year growth rate of 36.7%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Innovative Industrial Properties will report full-year earnings of $8.71 per share for the current financial year. For the next year, analysts expect that the business will report earnings of $11.01 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Innovative Industrial Properties.

Innovative Industrial Properties (NYSE:IIPRGet Rating) last issued its earnings results on Wednesday, February 23rd. The company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.75 by ($0.61). Innovative Industrial Properties had a return on equity of 7.48% and a net margin of 55.73%. The firm had revenue of $58.94 million during the quarter, compared to analysts’ expectations of $57.92 million. During the same quarter in the prior year, the company posted $1.29 earnings per share. Innovative Industrial Properties’s quarterly revenue was up 58.9% compared to the same quarter last year.

Several equities research analysts have weighed in on the company. StockNews.com assumed coverage on Innovative Industrial Properties in a report on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler decreased their price objective on Innovative Industrial Properties from $290.00 to $285.00 in a research note on Friday, January 14th. Zacks Investment Research cut Innovative Industrial Properties from a “hold” rating to a “sell” rating in a research note on Monday. Finally, BTIG Research restated a “buy” rating and set a $290.00 price objective on shares of Innovative Industrial Properties in a research note on Friday, April 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $266.43.

Shares of IIPR stock traded down $2.12 during mid-day trading on Friday, hitting $184.63. The stock had a trading volume of 6,293 shares, compared to its average volume of 259,880. Innovative Industrial Properties has a 12-month low of $162.81 and a 12-month high of $288.02. The firm has a market capitalization of $5.09 billion, a P/E ratio of 41.33 and a beta of 1.63. The firm’s 50-day moving average is $192.01 and its two-hundred day moving average is $225.38. The company has a debt-to-equity ratio of 0.20, a current ratio of 52.60 and a quick ratio of 52.60.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st will be issued a $1.75 dividend. The ex-dividend date of this dividend is Wednesday, March 30th. This is a positive change from Innovative Industrial Properties’s previous quarterly dividend of $1.50. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.79%. Innovative Industrial Properties’s dividend payout ratio is currently 153.51%.

In other Innovative Industrial Properties news, Director Gary A. Kreitzer sold 1,104 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $31.05, for a total value of $34,279.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary A. Kreitzer sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $31.52, for a total value of $69,344.00. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd acquired a new stake in Innovative Industrial Properties in the fourth quarter valued at approximately $25,000. Wagner Wealth Management LLC purchased a new position in shares of Innovative Industrial Properties in the third quarter valued at approximately $33,000. Level Financial Advisors Inc. purchased a new position in shares of Innovative Industrial Properties in the fourth quarter valued at approximately $33,000. PSI Advisors LLC purchased a new position in shares of Innovative Industrial Properties in the third quarter valued at approximately $35,000. Finally, Cornerstone Advisory LLC purchased a new position in shares of Innovative Industrial Properties in the fourth quarter valued at approximately $35,000. 71.55% of the stock is currently owned by institutional investors.

Innovative Industrial Properties Company Profile (Get Rating)

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 medical-use 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.

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