Innovative Industrial Properties (IIPR) Set to Announce Earnings on Wednesday

Innovative Industrial Properties (NYSE:IIPRGet Rating) is scheduled to release its earnings data after the market closes on Wednesday, May 4th. Analysts expect Innovative Industrial Properties to post earnings of $1.93 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Innovative Industrial Properties (NYSE:IIPRGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The company reported $1.14 earnings per share for the quarter. The company had revenue of $58.94 million during the quarter, compared to analysts’ expectations of $57.92 million. Innovative Industrial Properties had a net margin of 55.73% and a return on equity of 7.48%. The business’s quarterly revenue was up 58.9% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. On average, analysts expect Innovative Industrial Properties to post $8 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Shares of IIPR opened at $147.46 on Wednesday. The stock has a market capitalization of $4.06 billion, a P/E ratio of 32.34 and a beta of 1.63. Innovative Industrial Properties has a twelve month low of $146.38 and a twelve month high of $288.02. The company has a 50 day moving average of $186.47 and a 200-day moving average of $220.51. The company has a quick ratio of 52.60, a current ratio of 52.60 and a debt-to-equity ratio of 0.20.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were paid a dividend of $1.75 per share. This is a boost from Innovative Industrial Properties’s previous quarterly dividend of $1.50. This represents a $7.00 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Wednesday, March 30th. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 153.51%.

In other Innovative Industrial Properties news, Director Gary A. Kreitzer sold 2,200 shares of Innovative Industrial Properties stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $31.52, for a total value of $69,344.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary A. Kreitzer sold 1,104 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $31.05, for a total transaction of $34,279.20. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Several large investors have recently made changes to their positions in IIPR. Morgan Stanley grew its position in shares of Innovative Industrial Properties by 18.2% during the 2nd quarter. Morgan Stanley now owns 215,594 shares of the company’s stock worth $41,181,000 after purchasing an additional 33,134 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Innovative Industrial Properties by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 14,279 shares of the company’s stock worth $3,754,000 after purchasing an additional 693 shares in the last quarter. Barclays PLC grew its position in shares of Innovative Industrial Properties by 53.5% during the 4th quarter. Barclays PLC now owns 32,705 shares of the company’s stock worth $8,598,000 after purchasing an additional 11,398 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Innovative Industrial Properties by 55.6% during the 4th quarter. Advisors Asset Management Inc. now owns 1,153 shares of the company’s stock worth $303,000 after purchasing an additional 412 shares in the last quarter. Finally, Colony Group LLC acquired a new position in shares of Innovative Industrial Properties during the 4th quarter worth approximately $552,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Several equities research analysts have recently commented on IIPR shares. Piper Sandler cut their price objective on Innovative Industrial Properties from $290.00 to $285.00 in a report on Friday, January 14th. StockNews.com started coverage on Innovative Industrial Properties in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research raised Innovative Industrial Properties from a “sell” rating to a “hold” rating in a report on Monday. Finally, BTIG Research reissued a “buy” rating and issued a $290.00 price objective on shares of Innovative Industrial Properties in a report on Friday, April 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Innovative Industrial Properties presently has an average rating of “Buy” and an average price target of $266.43.

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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Earnings History for Innovative Industrial Properties (NYSE:IIPR)

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