Brokerages predict that Innovative Industrial Properties, Inc. (NYSE:IIPR – Get Rating) will post $2.02 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Innovative Industrial Properties’ earnings. Innovative Industrial Properties posted earnings of $1.64 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 23.2%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Innovative Industrial Properties will report full-year earnings of $8.44 per share for the current fiscal year. For the next fiscal year, analysts forecast that the company will post earnings of $10.08 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Innovative Industrial Properties.
Innovative Industrial Properties (NYSE:IIPR – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.61). Innovative Industrial Properties had a return on equity of 7.91% and a net margin of 54.43%. The business had revenue of $64.50 million for the quarter, compared to analysts’ expectations of $63.19 million. During the same quarter in the prior year, the firm earned $1.47 earnings per share. Innovative Industrial Properties’s revenue for the quarter was up 50.4% compared to the same quarter last year.
IIPR stock opened at $131.21 on Thursday. The company has a quick ratio of 52.60, a current ratio of 28.15 and a debt-to-equity ratio of 0.19. Innovative Industrial Properties has a 52-week low of $121.03 and a 52-week high of $288.02. The stock’s 50 day moving average is $169.11 and its two-hundred day moving average is $205.92. The company has a market capitalization of $3.67 billion, a PE ratio of 27.17 and a beta of 1.77.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 31st were paid a dividend of $1.75 per share. This is an increase from Innovative Industrial Properties’s previous quarterly dividend of $1.50. This represents a $7.00 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend was Wednesday, March 30th. Innovative Industrial Properties’s dividend payout ratio is presently 144.93%.
In other Innovative Industrial Properties news, Director Gary A. Kreitzer sold 2,200 shares of the business’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $31.52, for a total transaction of $69,344.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary A. Kreitzer sold 1,104 shares of the business’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $31.05, for a total value of $34,279.20. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in Innovative Industrial Properties by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,586 shares of the company’s stock worth $3,140,000 after acquiring an additional 52 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in shares of Innovative Industrial Properties by 1.0% in the fourth quarter. Flagship Harbor Advisors LLC now owns 5,174 shares of the company’s stock valued at $1,360,000 after buying an additional 52 shares during the period. Main Street Financial Solutions LLC lifted its holdings in shares of Innovative Industrial Properties by 2.8% in the fourth quarter. Main Street Financial Solutions LLC now owns 2,073 shares of the company’s stock valued at $545,000 after buying an additional 56 shares during the period. Ninepoint Partners LP lifted its holdings in shares of Innovative Industrial Properties by 5.6% in the fourth quarter. Ninepoint Partners LP now owns 1,328 shares of the company’s stock valued at $349,000 after buying an additional 71 shares during the period. Finally, Cadence Bank NA lifted its holdings in shares of Innovative Industrial Properties by 7.7% in the fourth quarter. Cadence Bank NA now owns 1,029 shares of the company’s stock valued at $270,000 after buying an additional 74 shares during the period. Institutional investors own 66.91% of the company’s stock.
About Innovative Industrial Properties (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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